The cryptocurrency has added $40 overnight and is currently trading at above $1,100.

The growth of bitcoin price began at around 22.00 UTC on 20 February. In a few hours, the cryptocurrency gained more than $25 as it rose from $1,058 to about $1,085. On 21 February, by 6.00 UTC bitcoin made another leap and surpassed $1,094.

On the US-based crypto exchange platform Coinbase, bitcoin was trading at higher than $1,110 for about an hour. At press time, the exchange rate on Poloniex is hovering around $1,105.

The total market capitalisation of bitcoin has exceeded 17.91 billion. The total number of cryptocoins currently in the system is 16,175,400.

Within the last 24 hours, the bulk of trading has been done on the Japanese exchange Bitflyer. Its current world trade share amounts to 19.23% or 19,500 BTC. BitFinex is the second best with a market share of 16.25% or 16,500 BTC. The Chinese cryptocurrency exchanges OKCoin and Huobi, former leaders of the global bitcoin trading, now have the fifth and the tenth place with shares of 9.48% and 5.18% respectively.

According to Coin Dance, the weekly trading volume on LocalBitcoins US as of 18 February amounted to $8.057 million or 6,312 BTC.

As the result of the Chinese regulation tightening on bitcoin trade, trading activity is moving to the American market, which is awaiting the verdict of the Securities and Exchange Commission on bitcoin ETF of Tyler and Cameron Winklevoss, due in March. If approved, the Winklevoss Bitcoin Trust would be the first crypto ETF licensed by a US regulatory body. SEC approval would strengthen the position of the ETF shares on the traditional financial market.

Elena Platonova

Image via Flickr