Cryptocurrencies fell on Tuesday, February 28, reversing gains from last session. The global crypto market capitalisation stood at USD 1.07 trillion, with a volume of nearly USD 45.27 billion in the past 24 hours.
The biggest and most widely used virtual currency in the world Bitcoin saw a 0.5 percent decline to USD 23,448.1. It was worth USD 452.6 billion on the market. The value of the trade was USD 22.5 billion.
Ethereum: With a market capitalization of USD 199.6 billion, Ethererum, also known as Ether, is the second-largest virtual currency. It dropped 0.6 percent to almost USD 1,630.7. In the previous day, Ethereum trades were worth USD 7.2 billion.
Dogecoin: On Tuesday, the meme-based digital currency Dogecoin decreased 0.7 percent. Its market value was 10.8 billion US dollars. The value of the trade was 293.4 million USD.
Solana: Solana's market capitalization decreased by 2.4 percent to USD 22.5. In the past 24 hours, Solana's transaction volume was USD 464.1 million.
Shiba Inu: Shiba Inu's market capitalization decreased by 2.6 percent to USD 6.8 billion. In the past 24 hours, there were USD 197.5 million worth of transactions.
Polygon: With a market capitalization of USD 10.7 billion, Polygon declined 4.2 percent to USD 1.2. In the previous 24 hours, there were USD 545.9 million in transactions.
"The decline on Monday followed the publication of January's US Durable Goods Orders data, which showed a 4.5 percent decline. Despite positive economic indicators for the same period, investors and traders were concerned about inflation and anticipated interest rate increases as a result "said Mudrex's Edul Patel.
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