The global cryptocurrency market capitalisation rose 5.28 percent over the last 24 hours to $2.01 trillion while the trading volumes were up 51.50 percent to $95.02 billion.

While decentralized finance (DeFi) accounted for 12.64 percent of the 24-hour cryptocurrency trading volume at $12.01 billion, stablecoin was at 78.54 percent at $74.63 billion. Bitcoin's market dominance fell by 0.04 percent to 41.42 percent and the currency was trading at $43,923.06 on the morning of February 8.

In rupee terms, Bitcoin rose 4.99 percent to trade at Rs 34,63,627, while Ethereum rose 4.71 percent to Rs 2,47,353.5

Cardano rose 9.56 percent to Rs 97.77 and Avalanche rose 5.06 percent to Rs 6,518.7. Polkadot gained 4.03 percent to Rs 1,768.09 and Litecoin was up 10 percent to Rs 10,800.1 in the last 24 hours. Tether rose 0.43 percent to Rs 78.6

Memecoin SHIB rose 12.75 percent, while Dogecoin increased 5.43 percent to trade at Rs 12.86. Terra (LUNA) rose by 8.25 percent to Rs 4,675.15

Valkyrie Capital’s Bitcoin Mining ETF focused on renewable energy has been approved by the US Securities and Exchange Commission, and it's set to go live Tuesday on the Nasdaq under the ticker "WGMI"—a crypto community acronym for “We're gonna make it". The Valkyrie Bitcoin Mining ETF primarily is focused on companies that use at least 77% renewable energy.

Also, KPMG Canada announced it has directly invested in Bitcoin and Ethereum—the two largest cryptocurrencies by market cap. The move is the latest among a growing trend of large institutional players to add cryptocurrency to their balance sheets, including MicroStrategy, Square, and Tesla.