The valuation of the crypto sector stands at $1.97 trillion as of February 20
Photo Credit: Pixabay/ Elvind Pedersen
Bitcoin on Tuesday, February 20 reflected a loss of 0.88 percent to trade at the price point of $51,577 (roughly Rs. 42.8 lakh). In the last seven days, the value of Bitcoin has fluctuated within the range of $51,000 (roughly Rs. 42.3 lakh) and $52,500 (roughly Rs. 43.5 lakh). The asset has managed to reach this price point after almost two years, owing to the ETF approvals in the US and the Bitcoin halving event that is slated for later this year.
“Bitcoin has surpassed the trillion-dollar market cap, securing its spot among the top ten companies by market cap globally, and significantly uplifting market sentiment. This positive atmosphere is drawing in small-scale retail investors, contributing to an optimistic market outlook,” the CoinSwitch Markets Desk told Gadgets360.
Ether saw a negligible profit of 0.78 percent on Tuesday. Currently, Ether is trading at $2,907 (roughly Rs. 2.4 lakh).
In the last 24 hours, the overall crypto market cap only managed to grow by 0.05 percent. The present valuation of the crypto sector stands at $1.97 trillion (roughly Rs. 1,63,49,286 crore) as per CoinMarketCap.
“This positive atmosphere is drawing in small-scale retail investors, contributing to an optimistic market outlook. Tokens like ADA and TRX have shown considerable gains, contributing to the overall crypto market cap's +1.92 percent increase,” Rajagopal Menon, Vice President, WazirX told Gadgets360.
“As the spot BTC ETF narrative plays out, investor focus seems to be gaining momentum towards spot ETFs for Ethereum. In other news, Japan's cabinet approved a bill allowing investment funds and venture capital firms to acquire cryptos as assets. This is likely to further institutional participation and adoption within the crypto market,” the Coinswitch markets desk told Gadgets360.
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Crypto Price Today: Bitcoin Steady at $83,000, Altcoins See Mixed Moves Amid Market Fluctuations19 March 2025
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