On Wednesday, February 8, 2023, the prices of cryptocurrencies witnessed a mass rise in their value after Bitcoin began to rise.

The market capitalisation of cryptocurrencies jumped today, Wednesday, February 8, 2023, to reach $1.08 trillion, amid cash flows of $61.33 billion over the last 24 hours, according to Investing platform.

Binance Tax tool

Binance made an important decision to support the cryptocurrency market, launching the world's largest cryptocurrency exchange, a new tool called Binance Tax.

The aim of this new tool is to give users the ability to understand their encrypted tax obligations on up to 100,000 transactions.

Digital currency rates. Crypto awaits the saviour "Binance Tax"

The international exchange announced in a press release that the new feature aims to help customers stay up to date with their tax obligations related to cryptocurrencies.

Binance's actions have made it more legitimised and opens the way for cryptocurrencies to trade freely under legal cover in other countries that have reservations about crypto transactions.

What is the price of Bitcoin today?

The price of Bitcoin (Bitcoin BTC) continued to rise on Wednesday, February 8, 2023 by 1.27% to reach $23,208.3, according to the Invisting platform to monitor cryptocurrency prices.

Bitcoin's market capitalisation jumped to $448.06 billion, compared to $442.57 billion on Tuesday, while the value of transactions on the cryptocurrency today recorded about $27.04 billion during the last 24 hours.

Digital currency rates. Bitcoin leads the crypto market to a "unbridled" drop

What are the prices of cryptocurrencies today?

The price of Ethereum ETH increased by 2.67% today to $1,675.06.

Binance coin BNB increased by 0.97% to $331.50.

The price of XRP also increased by 1.85% of its value to $0.40162.

The price of Cardano increased by 2.81% to $0.3987.

The price of DOGE also increased by 1.43% to reach the level of $0.92138.

The price of Polkadot increased by 4.09% to reach $6,896.