Cryptocurrency Market Rises Again with Increased ETF Expectations
Release: 2023/12/21 14:04 Reading: 785
The cryptocurrency market has entered an uptrend following the increased expectations for ETFs. As of today, cryptocurrency prices were seen trading in the positive territory. Data expected to be released later today in the US could shed light on the current state of the economy and may also provide insights into the potential moves of the Federal Reserve in 2024.
Current Status of Bitcoin and Altcoins
Particularly, if we talk about the latest market conditions, Bitcoin‘s price has started to rise again, showing a 2.64% increase to $43,684.64. During this period, Bitcoin’s trading volume rose by 41% to $29.25 billion. Meanwhile, Bitcoin’s several attempts to surpass the $44,000 mark but its inability to maintain it has revived rumors that the cryptocurrency will reach a new high for the year as 2023 draws to a close.
On the other hand, Ethereum’s price saw a 0.31% increase, trading at $2,200.87. Its trading volume rose by 29.57% to $12.98 billion during this time frame. Concurrently, BNB‘s price found buyers at $258.15 with a 2.33% increase on December 21st, while its trading volume decreased by 22.36% to $1 billion.
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Despite Bitcoin’s modest rise, Solana’s price surged by 11.7% to $83.87. There was also a significant increase in trading volume, which rose by 112.01% to $4.05 billion. During this period, SOL overtook XRP on December 20th, climbing to the 5th spot in market cap ranking. It defied predictions of its demise following the FTX events and pleased its investors. XRP’s price at the time of writing increased by 0.90% to $0.6155.
When examining memecoins, Dogecoin, which is at the top of the list, saw a slight increase of 0.47%, trading at $0.0915. Its trading volume rose by 35.01% to $595.39 million during this period. Dogecoin’s biggest competitor, Shiba Inu’s price also increased by 0.61% to $0.00001023, reflecting a modest gain.
Despite the positive market sentiment, Pepe Coin, considered the biggest follower of Doge and SHIB, continued its decline, which was interpreted as a reflection of how investors are cautiously trading ahead of the critical weeks to come. Meanwhile, as of Thursday, Pepe Coin’s price fell by 0.34% to $0.00000126, while its trading volume increased by 10.54% to $76.52 million.
Today’s Best Crypto Prices
IoTeX’s price experienced a 32.61% increase and was trading at $0.06468 at the time of writing. This surge placed the altcoin at the top of the list of the day’s biggest percentage gainers. Its trading volume also saw a noticeable increase, rising by 54.32% to $116.77 million. Even more remarkable was the cryptocurrency’s value jump of over 160% in the last 30 days.
Lastly, ORDI has maintained its status as one of the most talked-about altcoins of recent times. As the latest rally shows, it has consistently been under the intense scrutiny of traders. At the time of writing, ORDI’s price had increased by 12.26% to $57.07. Yesterday, the altcoin’s trading volume rose by 40.63% to $517.04 million.
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