Today’s Crypto Price: Bitcoin, Ethereum, and BNB [February 08 Update]

Today’s Crypto Price: Bitcoin Surges to $44,540.50

As of now, Bitcoin’s price stands at $44,530.92, marking a 0.46% increase since 00:00 UTC. With a circulating supply of 19.63M BTC and a maximum supply of 21.00M BTC, its fully diluted market cap reaches $875.15B. Bitcoin retains its top position in market cap rankings. Stay tuned for real-time updates on the Bitcoin/USD price.”

Crypto Price Today: Ethereum Hits $2,422.72

As of 10:13 p.m., Ethereum is priced at $2,422.20, reflecting a 2.54% increase over the past 24 hours. Its market capitalization is $291.10B, with a year-to-date change of 6.39%. Ethereum, classified as a Smart Contract Platform under CoinDesks Digital Asset Classification Standard (DACS), is a blockchain-based software platform facilitating global value transfers through its native cryptocurrency, ether, without intermediary intervention.

Proposed by Russian-Canadian computer programmer Vitalik Buterin in 2013, Ethereum aims to broaden the scope of cryptocurrencies by enabling developers to create specialized applications. These Ethereum-based applications, known as “decentralized applications” (apps), operate autonomously using smart contracts.

Smart contracts, coded programs stored on the Ethereum blockchain, execute predefined functions automatically upon meeting specific conditions. These functions range from initiating transactions upon event triggers to facilitating fund loans once collateral is deposited into designated wallets. Smart contracts are the foundation for all apps built on Ethereum and other blockchain platforms.

Crypto Price Today: Understanding BNB’s Value Fluctuations

As depicted in the BNB price chart, BNB’s value experiences fluctuations influenced by various factors. These factors include its diverse range of use cases and the speculative nature of the crypto industry. BNB serves various purposes, such as facilitating fee payments on the BNB Chain and functioning as currency through Binance’s payments card. Additionally, BNB serves as the governance asset for BNB Chain.

BNB undergoes burning each quarter according to a predefined formula, with this process expected to continue until BNB’s circulating supply drops below 100 million from its initial count of 200 million.