As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous bull and bear cycles, and today’s cryptocurrency market is no exception. The surge in Bitcoin above $100,000 and the overall positive momentum across major altcoins are reminiscent of the dot-com bubble days, albeit with a twist of volatility that is uniquely crypto.
Currently, the cryptocurrency market is exhibiting a positive trend, with Bitcoin (BTC) breaking through the $100,000 barrier. The prices of cryptos are displaying robust growth today, following a turbulent spell where BTC dipped to $92,000 after reaching its record high.
After three straight days of decline, Ripple‘s XRP experienced a 6% surge. On the other hand, it’s XDC Network that is leading the pack, seeing a significant 36% increase in its value.
The crypto market rose by over 2%, bringing its total market capitalization to $3.67 trillion. However, trading volume has decreased by 31%, standing at $250 billion.
Today’s snapshot showcases the leading digital currencies ranked by market value along with their price fluctuations for December 7.
Crypto Prices Today: BTC, ETH, SOL, and XRP
The digital currency market has picked up speed lately, boosted by Bitcoin reaching $100,000 again. Most significant alternative coins have shown growth over the past day, barring Solana that dropped by 3%. Even popular meme coins are benefiting from this bullish trend, with gains ranging from 1% to 4% in the same timeframe. The overall mood among investors seems hopeful, as numerous cryptocurrencies show positive trends.
Bitcoin Price Today
The price of Bitcoin (BTC) was currently at approximately $100,101, representing a 3% rise in the past 24 hours. During this period, its lowest and highest prices were recorded as $97,138 and $101,902 respectively. At present, Bitcoin’s market capitalization is estimated to be around $1.98 trillion, with a trading volume of about $86 billion and a market share of 53.87%.
According to SoSo Value’s report, there has been a substantial increase in investments towards Bitcoin ETFs last Friday, with approximately $119 million being added. However, we are still waiting for data from BlackRock. Fidelity contributed $120 million to these Bitcoin ETFs, while Ark Invest and 21Shares together saw inflows worth $24 million.
Moreover, as the value of Bitcoin increases, it’s causing a spike in demand which puts strain on mining processes. This surge in popularity is not only leading to more activity but also higher energy usage, with many national power grids being tapped to keep up with the energy needs for these mining operations.
Ethereum Price Today
At the moment of writing, the value of ETH was around $4,000, representing a roughly 4% rise. Its lowest and highest points over the past 24 hours were $3,831 and $4,087 respectively. The total market capitalization of Ethereum stood at approximately $480 billion, with a trading volume of about $50 billion. At this time, it continues to be the second-largest cryptocurrency, making up 13.11% of the overall market share.
49 million dollars flowed into the ETH ETF, with 47 million of that coming from Fidelity Investments. Bitwise purchased 13 million dollars worth of the ETF, and BlackRock’s involvement is yet to be confirmed by their recent data.
Meanwhile, there’s significant buzz in the Ethereum community about whether to raise or lower the Ethereum gas limit. Galaxy Research is contributing significantly to this discourse by providing meaningful perspectives on the topic.
XRP Price Today
The price of XRP was at approximately $2.428, reaching a peak of $2.497 during the previous 24 hours. This represents an increase of around 6%, placing XRP among the top performing cryptocurrencies in the top 10 list for that period. With a market capitalization of about $139 billion and a trading volume of around $14 billion, XRP retained its position as the third-largest digital currency by market cap.
Furthermore, crypto expert Justin Bennett anticipates that the XRP value may surge towards $3 following a large investor transferring $47 million to the Bitstamp platform. This transaction might indicate a positive trend for XRP over the next few days.
Solana Price Today
Currently, the value of Solana (SOL) is around $235, marking a 3% drop compared to the previous 24-hour period. Over this timeframe, its lowest point was $231 and the highest was $242. At present, the total market capitalization for Solana stands at approximately $111 billion, with trading volume amounting to $5.42 billion within the last day.
The decrease in price can be linked back to the SEC’s refusal of the Solana ETF application. This negative news had an impact on the cryptocurrency, causing a decline in its current value.
Meme Crypto Prices Today
Today, Dogecoin (DOGE) saw a small increase compared to yesterday, currently trading at $0.434 and reaching a 24-hour high of $0.44. Shiba Inu (SHIB) also experienced a slight rise, sitting at $0.0000307. Other meme coins such as PEPE, WIF, and BONK, however, have dipped by 1% to 3% in the last 24 hours. The overall trend in the meme coin market showed a mix of gains and losses, with some coins showing minimal growth while others faced decreases. The cryptocurrency prices today mirror the ongoing volatility within the meme coin sector.
Top Crypto Gainer Prices Today
XDC Network
In the past 24 hours, XDC’s price experienced a notable surge of 36%, currently trading at approximately $0.1031. The day’s lowest and highest prices for XDC were $0.07522 and $0.1037 respectively. The market cap of XDC now stands at around $1.55 billion, underscoring its robust growth during this timeframe. Today’s crypto prices showcase XDC’s impressive performance, drawing attention in the market as it continues to be a standout performer.
Mog Coin
As a researcher, I’m reporting an exciting development in the crypto world: MOG, a digital asset I’ve been tracking, witnessed a substantial surge of 24% today, trading at a price point of $0.00000395 USDT. The day’s peak was even more impressive at $0.00000401 USDT.
Hedera
At this moment, the value of HBAR has risen by 19%, with a 24-hour lowest point of $0.2767 and a peak of $0.3741. Its total market valuation currently stands at an impressive $13 billion. The overall crypto market today mirrors HBAR’s robust growth, demonstrating consistent increases in value across the board.
Top Crypto Loser Prices Today
Jupiter
Among the leading 100 cryptocurrencies, Jupiter experienced the most significant drop over the past 24 hours, decreasing by approximately 4%. Currently, it’s being traded at around $1.33. The lowest it went in the last day was $1.30, while its highest point was $1.394.
Raydium
Today, the value of RAY decreased by 3%, with its current price standing at $4.85. Its lowest and highest points over the past 24 hours were $4.801 and $5.096 respectively. This minor downtrend in cryptocurrency prices indicates a decrease in RAY’s value during this period.
The one-hour graph suggests a bearish movement for Bitcoin, which has dropped by 1%. Other major cryptocurrencies are also mirroring this trend, indicating a minor market-wide dip. Today’s crypto prices suggest a temporary drop due to short-term market pressure.
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2024-12-07 07:10