On Tuesday, February 20, Bitcoin was trading at $51,577 (approximately Rs 42.80 lakh), down 0.88%. Over the past seven days, the value of Bitcoin has fluctuated between $51,000 (roughly Rs. 4.23 million) and $52,500 (roughly Rs. 4.35 million). It took nearly two years for the asset to reach this price point, thanks to the approval of a U.S. ETF and the Bitcoin halving event scheduled to take place later this year.

“Bitcoin’s market capitalization has exceeded one trillion U.S. dollars, firmly ranking among the top ten in global market capitalization, and market sentiment has been significantly boosted. This positive atmosphere is attracting small-scale retail investors, contributing to the optimistic market outlook,” CoinSwitch Markets Desk told Gadgets360.

Ethereum’s profit on Tuesday was a minuscule 0.78%. Currently, Ethereum is trading at $2,907 (roughly Rs. 2.4 lakh).

As of Tuesday, Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Tron were all recording modest gains.

Chainlink, Polkadot, Uniswap, Cosmos, Stellar and Bitcoin SV were also slightly profitable.

In the past 24 hours, the overall cryptocurrency market capitalization has increased by only 0.05%. According to data, the crypto industry is currently valued at $1.97 trillion (approximately Rs 1,63,49,286 crore) coin market cap.

“This positive vibe is attracting small-scale retail investors, contributing to the optimistic market outlook. Tokens such as ADA and TRX have shown considerable gains, driving the overall cryptocurrency market capitalization by 1.92%, WazirX Vice President Rajagopal Menon told Gadgets360 %.

Meanwhile, Solana, Avalanche, Polygon, Shiba Inu, Litecoin and Leo all posted losses on Tuesday.

“Investor attention appears to be increasingly turning to Ethereum spot ETFs as spot BTC ETFs develop. In other news, Japan’s cabinet approved a bill that would allow investment funds and venture capital firms to acquire cryptocurrencies as assets. This It is likely to further boost institutional participation and adoption in the cryptocurrency market,” Coinswitch Markets told Gadgets360.

Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any losses incurred as a result of any investment based on any perceived recommendations, predictions or any other information contained in the article.