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- BTC is currently trading hands at $24,667.26 after a 11.38% increase in price.
- ETH is now up by more than 3% over the last week.
- Several funds or institutions poured almost $1.6 billion into the crypto market.
All eyes are on Bitcoin (BTC) and Ethereum (ETH) today as both cryptos saw big price increases over the last day. According to CoinMakretCap, the crypto market leader BTC is currently trading hands at $24,667.26 after a 11.38% increase in price. This successful daily performance seemed to strengthen the crypto’s weekly performance as BTC is up by more than 9% over the last seven days.
Bitcoin / Tether US 1D (Source: TradingView)
Also in the green zone is BTC’s 24 hour trading volume which currently stands at $36,301,403,972 after a more than 34% increase since yesterday.
ETH is also basking in its success over the last day as the altcoin is now trading at $1,692.34 after a 9.08% increase in price over the last day. This helped ETH’s weekly performance as well as the leading altcoin is now up by more than 3% over the last week.
Ethereum / Tether US 1D (Source: TradingView)
Its 24 hour trading volume also saw a more than 27% increase to now stand at about $11,769,474,574.
The on-chain analysis platform Loononchain took to Twitter earlier this morning to share some of their own data and speculations about why the price of BTC and ETH saw these price increases throughout the last day.
According to the post, Lookonchain found that several funds or institutions poured almost $1.6 billion into the crypto market as early as February 10.
One address in particular caught their attention.The mysterious fund didn’t stop pouring money into the crypto market as BTC/ETH dropped. His address “0x308F” has withdrawn 155M $USDC from Circle and transferred to exchanges since Feb 10.
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