Crypto Price Today: BTC Surges Above $43k; PENDLE Up by 16%

Crypto Price Today: BTC surges above the crucial $43,000 mark, PENDLE up by 16%

Crypto Price Today: Bitcoin (BTC) surges above the crucial $43,000 mark, leading the charge for digital assets. As the flows for recently listed spot BTC exchange-traded funds (ETFs) begin to stabilize, optimism pervades the cryptocurrency landscape. Alongside Bitcoin's upward trajectory, other major cryptocurrencies experience varied movements, with some witnessing substantial gains while others navigate slight declines. Amidst this dynamic market environment, Pendle (PENDLE) emerges as a standout performer, experiencing a remarkable surge in price over the past 24 hours.

Bitcoin's Price Surge

The cryptocurrency market has kicked off the day with vigor, witnessing a surge in token prices on Tuesday morning. Bitcoin (BTC) is hovering above $43,000, buoyed by the normalization of flows for recently listed spot BTC exchange-traded funds (ETFs).

According to data from CoinMarketCap, Bitcoin experienced a dip to a low of $41,785 before reversing its course and climbing back above the $43,000-mark. At the time of writing, BTC is trading at $43,625, marking a notable increase of 3.55% on the 24-hour chart.

Source: CoinMarketCap

Renowned macroeconomist and crypto analyst Henrik Zeberg expressed bullish sentiments on Twitter, suggesting that the "greatest #Crypto rally ever" is imminent. He predicted that widespread bullishness and euphoria would return to the market.

BlackRock's Bitcoin ETF Surpasses $2 Billion in AUM

BlackRock's Bitcoin exchange-traded fund (ETF), trading under the ticker IBIT, has surpassed $2 billion in assets under management (AUM) within weeks of its launch. Industry data reveals that IBIT currently holds over 52,000 BTC, valued at more than $2 billion at current market prices. IBIT has witnessed substantial trading volume, rivaling that of the Grayscale Bitcoin Trust (GBTC).

Bloomberg ETF analyst James Seyyfart noted that the newly approved spot ETFs are offsetting the outflows from GBTC, which has experienced significant selling pressure since transitioning into a spot ETF.

First Spot Bitcoin ETF Application in Hong Kong

Reports indicate that Harvest Hong Kong, one of China's largest fund managers, submitted an application for a spot Bitcoin ETF to the Hong Kong Securities and Futures Commission (SFC) on January 26. The SFC is reportedly expediting the approval process to launch the first Hong Kong spot Bitcoin ETF post-Chinese New Year on February 10.

Several existing crypto firms that introduced futures-based crypto ETFs in Hong Kong are expected to file for spot Bitcoin ETFs. Samsung Asset Management, the creator of the Samsung Bitcoin Futures ETF, has expressed interest in exploring the possibility of launching a spot ETF.

Top Gainers in the Cryptocurrency Market

Here's a detailed overview of the top gainers in the cryptocurrency market:

Pendle (PENDLE):

Price: $2.67

24h Change: +16.76%

24h Volume: $71,892,323

Pendle (PENDLE) has experienced a significant surge in price over the past 24 hours, marking an impressive increase of 16.76%. With a price of $2.67 per token, Pendle has captured the attention of investors and traders alike. The substantial trading volume of $71,892,323 indicates heightened activity and interest in this cryptocurrency.

Sui (SUI):

Price: $1.62

24h Change: +14.88%

24h Volume: $784,555,086

Sui (SUI) has witnessed a notable uptick in its price, recording a change of 14.88% within the last 24 hours. Priced at $1.62, Sui has demonstrated strong momentum in the market. The substantial trading volume of $784,555,086 underscores the heightened trading activity surrounding this cryptocurrency.

ORDI (ORDI):

Price: $62.49

24h Change: +12.55%

24h Volume: $278,704,447

ORDI (ORDI) has seen a noteworthy increase in its price, rising by 12.55% over the past 24 hours. With a current price of $62.49 per token, ORDI has displayed positive momentum in the market. The trading volume of $278,704,447 indicates significant investor interest and activity in this cryptocurrency.

Blur (BLUR):

Price: $0.6841

24h Change: +9.99%

24h Volume: $156,302,291

Blur (BLUR) has registered a notable price surge of 9.99% in the last 24 hours, reaching a price of $0.6841 per token. This increase in price reflects positive market sentiment and investor confidence in Blur. The trading volume of $156,302,291 suggests active trading and engagement with this cryptocurrency.

Mina (MINA):

Price: $1.18

24h Change: +9.65%

24h Volume: $51,206,032

Mina (MINA) has experienced a price increase of 9.65% within the past 24 hours, reaching a price of $1.18 per token. This upward movement in price indicates growing interest and demand for Mina in the cryptocurrency market. The trading volume of $51,206,032 reflects significant trading activity surrounding this cryptocurrency.

As the cryptocurrency market continues to evolve, investors and enthusiasts are closely monitoring these developments and the performance of top tokens, anticipating further growth and innovation in the digital asset space.