Crypto
Cryptocurrency Price Today: Bitcoin Briefly Climbs Above $57,000 For The First Time Since 2021
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to climb above the $55,000 mark for the first time since November 2021. It managed to briefly scale the $57,000 mark but later settled down below. It is largely being believed that the recent rally is an outcome of the rising investors’ confidence around BTC exchange-traded funds (ETF). Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board. Memecoin PEPE emerged to be the biggest gainer of the lot, with a 24-hour jump of over 51 percent. Worldcoin (WLD) became the biggest loser, with a 24-hour dip of nearly 14 percent.
The global crypto market cap stood at $2.14 trillion at the time of writing, registering a 24-hour gain of 7.36 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $55,951.66, registering a 24-hour gain of 8.32 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 48.73 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,227.85 marking a 24-hour gain of 3.95 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.82 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 4.74 percent, as per CoinMarketCap data, currently priced at $0.08966. As per WazirX, Dogecoin price in India stood at Rs 7.80.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 6.80 percent. At the time of writing, it was trading at $74.79. LTC price in India stood at Rs 6,470.
Ripple (XRP) Price Today
XRP price stood at $0.5549, seeing a 24-hour jump of 2.67 percent. As per WazirX, Ripple price stood at Rs 48.71.
Solana (SOL) Price Today
Solana price stood at $110.48, marking a 24-hour gain of 6.68 percent. As per WazirX, SOL price in India stood at Rs 9,498.
Top Crypto Gainers Today (February 27)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Pepe (PEPE)
Price: $0.000002086
24-hour gain: 51.07 percent
Theta Network (THETA)
Price: $2.11
24-hour gain: 42.25 percent
Pyth Network (PYTH)
Price: $0.7365
24-hour gain: 32.91 percent
Akash Network (AKT)
Price: $4.92
24-hour gain: 22.41 percent
Stacks (STX)
Price: $3.07
24-hour gain: 22.36 percent
Top Crypto Losers Today (February 27)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Worldcoin (WLD)
Price: $7.68
24-hour loss: 12.89 percent
SingularityNET (AGIX)
Price: $0.7063
24-hour loss: 6.90 percent
The Graph (GRT)
Price: $0.2845
24-hour loss: 4.66 percent
Uniswap (UNI)
Price: $10.70
24-hour loss: 3.47 percent
dYdX (ethDYDX) (ETHDYDX)
Price: $3.36
24-hour loss: 2.44 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin jumped above $57,000 in the last 24 hours, affirming bullish control following a period of tight consolidation. Breaking through the $54,000 mark for the first time since November 2021, Bitcoin’s rise was driven by sustained demand from spot Bitcoin ETFs. MicroStrategy’s acquisition of an additional 3,000 BTC for $155 million contributed to the positive market sentiment. The next hurdles are expected at $57,400 and $60,000. Simultaneously, Ethereum reached a two-year high, surpassing the $3,200 level, propelled by substantial institutional buying. Overall, optimism prevails as the Bitcoin halving approaches.”
CoinSwitch Markets Desk noted, “BTC showed the highest one-day gain since pre-ETF days and the rally continues today with an impressive double-digit gain. Bitcoin is now at a touching distance of INR 50 lakh per coin with investors growing confidence in this rally; for the first time in 2 years. However, it is worthwhile to note that the journey from $57k to $69k (previous all-time high) might not be easy as BTC will face a lot of strong resistance points on the way., starting at $57.5k. With Blackrock’s spot Bitcoin ETF trading volume hitting a record $1.3 billion, and halving coming in the next 50 days, analysts are predicting this is an unprecedented bullish factor causing this gain.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin has finally broken out days after consolidating under its resistance. The cryptocurrency added $100 billion to its market cap by rallying over 10% in a single day. This rally could have been fueled by institutional buying who expected this move in foresight. MicroStrategy bought 3,000 BTC yesterday just before Bitcoin broke the resistance. Ethereum has also broken $3,200 days after breaching $3,000, which could set a new ATH after Bitcoin cools down.”
Rajagopal Menon, Vice President, WazirX, said, “Bitcoin surged past $57,000 on Tuesday, marking its highest level since November 2021, following substantial gains in the U.S. market on Monday. Despite a slight pullback to $56,500, it maintained a 9% gain over the last 24 hours. Monday’s rally saw Bitcoin surpassing key milestones at $53,000, $54,000, $55,000, $56,000, and $57,000, prompting active trading in U.S.-based spot Bitcoin ETFs. The group, excluding Grayscale’s GBTC, recorded a record-high $2.4 billion in trading volume on Monday. GBTC experienced its smallest one-day Bitcoin outflow since the ETF’s January 11 launch, shedding only 921 tokens.”
CoinDCX Research Team told ABP Live, “in the last 24 hours, BTC surged to $57,000 and ETH surpassed $3,200, indicating a bullish market sentiment. Positive flows into BTC Spot ETFs and continued purchases by institutions like Microstrategy fueled the momentum. From a technical perspective, BTC broke out of its range and showed a parabolic rise. Currently, it’s trading below the resistance level at $57,500. Likewise, ETH also broke out of its range, retested, and is now trading below the resistance level at $3,250.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Crypto
British Airline Jet2 Shares Jump 9% After $536M Fuel Hedge Gain Offsets Middle East Travel Fears
Key Takeaways
- Jet2 recorded a $536 million balance sheet windfall on July 8 after locking in low-cost fuel derivatives.
- The Middle East conflict triggered a 67% decline in annual cash inflows as travelers delayed holiday bookings.
- CEO Steve Heapy announced a $335 million buyback program and expanding operations at London Gatwick Airport.
Sector Resilience Amid Fuel Volatility
British airline and package holiday provider Jet2 defied intense geopolitical instability and travel sector panic triggered by the Middle East war by reporting a more than $500 million balance sheet boost, fueled by the rising price of jet fuel.
As the conflict in the Middle East escalated, spiking fuel rates caused the value of the company’s fuel derivatives to soar. According to Jet2’s full financial results released July 8, an extra $536 million in income was primarily driven by these favorable fair value movements.
The financial buffer comes after widespread fears earlier this year that rising energy costs could push airlines into bankruptcy and force massive summer holiday cancellations. In the United States, higher fuel prices contributed to the collapse of low-budget airline Spirit in May. The United Kingdom had been labeled as the nation “most exposed” to the jet fuel crisis, forcing government ministers to scramble to protect airline fuel access and temporarily suspend airport capacity rules.
While Jet2 was able to mitigate the price shock, the broader conflict still took a toll on booking behaviors. The airline conceded that ongoing travel uncertainty from the war caused holidaymakers to delay their trips and book much closer to their departure dates than usual. As a result, Jet2’s cash inflow plummeted by 67% to approximately $103 million for the fiscal year ending March 31.
Financially, Jet2 reported mixed full-year results. Group revenue climbed 4% to $10.05 billion, but pre-tax profit slipped 7% to $738.6 million, hit hard by lower income earned on its cash deposits.
Despite the profit dip, operational metrics showed strong consumer demand. Jet2 increased its total seat capacity by 8% to 24 million and flew 20.8 million passengers — a 5% increase year-over-year. The company also announced a new $335 million share buyback program, pointing to robust liquidity and confidence in its midterm outlook.
On the stock market, shares of the AIM-listed company jumped 9% to $19.92 at Wednesday’s opening bell, leaving the stock up 5% for the year.
Chief Executive Issues Tax Warning
The financial report coincided with an aggressive political warning from Jet2 Chief Executive Steve Heapy. Speaking to shareholders, Heapy cautioned political figures — specifically naming prominent politician Andy Burnham — against treating the aviation and holiday industry as a “cash cow.”
Burnham is widely anticipated to enter Downing Street later this month following recent political shifts.
“Don’t treat the aviation or holiday industry as a cash cow, because taxes increase the price of flying,” Heapy said, pointing out that Jet2 had to absorb $67 million in additional regulatory and tax costs over the last year. “I think, you know, enough is enough.”
Operationally, Jet2 is pushing a major expansion strategy designed to challenge the UK’s dominant legacy carriers. In March, the airline launched a six-aircraft hub at London Gatwick Airport, signaling an aggressive move out of its traditional northern England strongholds. The company notes it now operates within a 90-minute drive of more than 90% of the UK population.
Key Takeaways
- LAB token cratered 90% over 48 hours, wiping out billions in market cap.
- ZachXBT slammed top centralized exchanges for failing to halt the July manipulation.
- Investors surged to avoid trading LAB as team token unlocks are set for later in July 2026.
LAB Trade Blames ‘Large Market Participants’
LAB, the native token of the multi-chain trading platform LAB Trade, suffered a catastrophic collapse this week, plunging from just over $7 to $1.25 on Wednesday—a staggering 80% decline in under 24 hours. This crash followed an equally brutal sell-off on Tuesday, which saw the token slide from nearly $17. In total, LAB wiped out nearly 90% of its value in just 48 hours.
The financial fallout was swift: a market capitalization that exceeded $5 billion on Tuesday morning evaporated to just $390 million by 3:30 p.m. EST on Wednesday. The freefall prompted the LAB Trade team to address the panic on X, where they expressed disappointment and deflected blame toward external heavy-sellers:
“While today’s market activity is disappointing, our product roadmap and long-term focus remain unchanged. We’re seeing significant selling pressure from large market participants. Several independent trading firms also hold substantial LAB positions that are not affiliated with our team. We’re working closely with our liquidity partners and continue to monitor market conditions,” the team said on X.
With this crash, LAB joins a notorious lineup of volatile tokens, such as RAVE, RIVER and SIREN. Each of these projects experienced meteoric rises followed by near-instantaneous erasures, sparking widespread “pump-and-dump” allegations against their respective teams and murky distribution networks.
Crypto Sleuth Slams Centralized Exchanges
Prominent on-chain detective ZachXBT, who previously flagged suspicious insider loans and market-maker coordination back in May, blasted major centralized exchanges ( CEXs) for failing to protect retail investors. Taking to X, ZachXBT criticized the lack of proactive intervention:
“Disappointing to see how no action was taken by Binance, Bitget, and Gate earlier to prevent it. If CEXs cared, profits from the accounts manipulating the price would be distributed to users at a minimum. Unlocks for investors were scheduled to begin later this month, however, multiple late vesting changes occurred in the past.”
ZachXBT reiterated his previous warnings that insiders have effectively controlled the entire circulating supply, allowing market makers to orchestrate extreme price manipulation on major exchanges. His final advice to the community was blunt: avoid trading LAB under any circumstances.
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud
Blockchain investigator ZachXBT has renewed his assault on Bitget, accusing the exchange of knowingly enabling market makers to run supply…
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