Hotspot Engine Program
A massive influx of money into Bitcoin's listing** has propelled Bitcoin to a strong **, with the cryptocurrency posting its biggest monthly gain in more than three years on Thursday (Feb. 29) and on track for a new all-time high.
Bitcoin, the largest cryptocurrency by market capitalization, held firm at US$62,000 (S$83,394) in early trading in Asia**, changing hands for as much as US$63,933 overnight. Bitcoin's monthly gain has exceeded 45, the largest since December 2020.
Ether (Ethereum) has also climbed along with Bitcoin, reaching 50 in February.
Data from market analysis firm LSEG showed that on Tuesday (27th) alone, the inflow of funds into the top 10 spot bitcoin exchanges** (ETFs) reached $420 million, the most in nearly two weeks. The three most popular spot bitcoin exchanges** (ETFs), issued by Grayscale, Fidelity and BlackRock, saw a surge in trading volume.
After Bitcoin topped $60,000 on Wednesday (28th), cryptocurrency exchange Coinbase's platform malfunctioned, causing some users' account balances to show zero.
Coinbase CEO Brian Armstrong posted on Social Media that they are dealing with a surge in traffic.
On the same day, Coinbase noted that all services on ** had been restored, adding in a post on X: "A very small number of customers are still seeing inaccurate account balances. Our team is working on this issue. ”