Cryptocurrency Market Update in December
Release: 2023/12/08 14:34 Reading: 604
With the arrival of December, the bullish sentiment in cryptocurrencies strengthened and this was reflected in the market. The recent price increases have led to unprecedented levels in cryptocurrency prices, including Bitcoin and Ethereum, since 2022 and have revealed increased investment appetite for risky assets among investors.
Current Situation in Cryptocurrencies
As of the morning of December 8th, the price of Bitcoin has increased by 0.29% in the last 24 hours, currently trading at $43,416.34. At the same time, there has been a 4.19% increase in trading volume, raising the volume to $28.34 billion.
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In addition, the price of the king of cryptocurrencies, Ethereum, has reached levels not seen since 2022. Ethereum continues its steady upward trend, with a 1% increase in price to $2,374.98. As a result of the transactions in the last 24 hours, its volume increased by 35.97% to $15.75 billion. The highest price level reached in the last 24 hours was $2,387.51.
The price of XRP, closely followed by cryptocurrency investors, was $0.6467 at the time of writing, with a 0.54% increase. However, the trading volume decreased by an interesting 11.24% to $1.8 billion. Similarly, Solana experienced a 5% increase in price, rising to $71.79. It is thought that the influence of JITO Coin contributed to this increase.
Looking at meme coins, on December 8th, Dogecoin was trading at $0.09668, with a 1% increase in the last 24 hours, but its 24-hour volume decreased by 55% to $1.14 billion. In addition, Shiba Inu saw a noticeable 2.15% increase to $0.00001, finally achieving the long-awaited transfer to 0.
Highlighted Altcoins of the Day
On December 8th, the price of Pepe Coin increased by 1.31% to $0.00000155. Its trading volume decreased by 30.59% to $206.35 million in the last 24 hours. As can be understood from the increase in its price, Pepe Coin has also hosted more visible price increases in recent days. The meme coin recorded a 39% price increase in the last seven days.
Bonk, the first meme coin on the Solana network with a dog theme, has gained attention from investors amid the recent resurgence of the SOL network. At the time of writing, the price of BONK had increased by 12.68% to $0.000011872, with an incredible 115.88% increase in trading volume to $201.77 million in the last 24 hours.
On December 8th, Optimism was among the other rising altcoins. The price of Optimism increased by 0.27% to $2.16 in the last 24 hours, with a 266.64% increase in volume to $620.52 million. Gnosis was one of the most notable altcoins in the cryptocurrency field on Friday. At the time of writing, the price of Gnosis had increased by 1% to $237.83.
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