The top cryptocurrencies traded in the green on February 16. Bitcoin’s value increased 11.81 percent to $24,737.57, its highest level in six months since August 2022.

The tech-heavy Nasdaq Composite and the S&P 500 index both saw gains on Wednesday, with the U.S. equities markets trading in the green. Indeed, the market on Thursday benefited from yesterday’s advances.

The market capitalization of all cryptocurrencies rose by 8.80% to $1.12T. The overall volume of the cryptocurrency market increased by 23.05 percent to $71.95B.

“Despite widespread risk aversion to U.S. data that indicates the economy could absorb much more Fed tightening, Bitcoin is initially trading higher today. According to Edward Moya, a senior market analyst at OANDA, cryptocurrency traders are also learning more about planned rule changes that would affect which crypto businesses could store customer money.

From $1,400, the price of Ethereum increased by 9 percent to $1,689.36. The cryptocurrency industry expanded despite legal restrictions on stablecoins and potential Fed actions to reduce inflation. In light of this, the cost of XRP rose by 5.31% to $0.400732. This improvement was further shown in Polygon, which increased by 9.41% to $1.36. To $0.410546, Cardano’s value increased by 6.28 percent.

At this point, Solana and Dash increased by 10% to $23.76 and 10.24% to $75.63, respectively. BNB increased 8.25% to $321.35. The prices of Monero and Avalache also increased by 4.98 percent to $165.75 and 10.86 percent to $20.00, respectively, during this period.

The top gainers, according to CoinMarketCap, were OKB, Render Token, Optimism, and Flow. On the other hand, Pax Dollar, TrueUSD, Tether, and Pax Gold were the top losers.