Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, managed to remain inch closer to the $44,000 mark early Friday as it continues its rally. Popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE) — landed in the greens across the board. NEAR Protocol (NEAR) remained the biggest gainer of the lot, with a 24-hour jump of over 23 percent. ORDI (ORDI) remained the biggest loser as well, with a 24-hour dip of nearly 8 percent.
The global crypto market cap stood at $1.66 trillion at the time of writing, registering a 24-hour jump of 2.19 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $43,998.47, registering a 24-hour jump of 0.76 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 38.11 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,249.52, marking a 24-hour gain of 2.24 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.94 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 2.26 percent, as per CoinMarketCap data, currently priced at $0.0937. As per WazirX, Dogecoin price in India stood at Rs 8.10.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 1.75 percent. At the time of writing, it was trading at $70.92. LTC price in India stood at Rs 6,101.02.
Ripple (XRP) Price Today
XRP price stood at $0.6201, seeing a 24-hour gain of 0.75 percent. As per WazirX, Ripple price stood at Rs 53.65.
Solana (SOL) Price Today
Solana price stood at $98.20, marking a 24-hour jump of 17.97 percent. As per WazirX, SOL price in India stood at Rs 8,100.
Top Crypto Gainers Today (December 22)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
NEAR Protocol (NEAR)
- Price: $3.59
- 24-hour gain: 27.03 percent
Algorand (ALGO)
- Price: $0.2463
- 24-hour gain: 24.70 percent
Oasis Network (ROSE)
- Price: $0.1117
- 24-hour gain: 18.69 percent
Axelar (AXL)
- Price: $1.22
- 24-hour gain: 17.46 percent
Solana (SOL)
- Price: $97
- 24-hour gain: 16.73 percent
Top Crypto Losers (December 22)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
ORDI (ORDI)
- Price: $52.60
- 24-hour loss: 9.96 percent
SATS (1000SATS)
- Price: $0.0006964
- 24-hour loss: 8.68 percent
Stacks (STX)
- Price: $1.39
- 24-hour loss: 3.76 percent
Render (RNDR)
- Price: $4.37
- 24-hour loss: 3.73 percent
Blur (BLUR)
- Price: $0.5117
- 24-hour loss: 3.61 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin has surged past the $44,000 level, propelled by discussions on Bitcoin ETFs involving BlackRock, Nasdaq, and the SEC. Displaying a substantial 16 percent gain this month and an impressive 165 percent surge year-to-date, the market is upbeat following Argentina’s formal adoption of Bitcoin as its official currency. El Salvador’s recent law offering citizenship to foreign Bitcoin investors further contributes to the positive sentiment. BTC faces resistance at $44,300 and finds support at $43,500. The prevailing optimism in the market suggests that Bitcoin may soon reach the $48,000 level if the current momentum persists.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “With an uptrend building up again as some losses are reversed, BTC is back to trading above the $44k mark. Narratives including the expected Spot BTC ETF approval continue to sustain investor confidence. Given the recent price action, however, the market is expecting low volatility for BTC in the coming days. In the altcoin universe, Solana is grabbing investor attention. Shortly after bypassing XRP to become the 5th largest crypto, SOL has now overtaken BNB to become the 4th largest crypto in the world. Currently trading around $93.9, SOL started the year at around $9.96 and has grown over 840 percent in 2023.”
Rajagopal Menon, Vice President, WazirX, said, “The week continued to mark new developments for Solana, Near Protocol as both networks are expected to surge in the coming weeks, according to experts. While the SEC has continued its crackdown on crypto companies in the US, the impact of the same on the ecosystem has been minimised as compared to how it was a year ago. All of these point towards a maturing market. Bitcoin’s dominance has also reached a two-year high which indicates that its rally will be followed by altcoins and memecoins shortly. However, BTC could face resistance in the coming days after a phase of steady increase.”
Shivam Thakral, CEO of BuyUcoin, said, “The overall crypto market cap surged to $1.66 trillion with Bitcoin touching the $44,000 mark just ahead of Christmas. The crucial meeting between Blackrock, Nasdaq, and SEC regarding Bitcoin ETF sent strong positive signals leading to positive market sentiment. Solana is leading the altcoin rally with over 16 percent surge in 24 hours. As we enter the last week of 2023, the crypto market is gathering more steam to sustain the momentum into 2024.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin, the leading cryptocurrency, has seen a slight decline recently but is holding resiliently above $43,500, signalling strong market sentiment. This stability at $43,000 underscores continued investor confidence amid market volatility, a critical indicator for the broader cryptocurrency. Among the key factors driving Bitcoin’s upward trajectory are heightened expectations for the SEC’s approval of a Bitcoin Exchange-Traded Fund (ETF). Endorsements from influential figures like Michael Saylor and Tim Draper, especially their positive views on altcoins like Stacks (STX), add to the positive outlook. Anticipation of the SEC’s decision to approve Bitcoin ETFs is fueling optimism, with Michael Saylor highlighting its potential to democratise access to the crypto market, similar to the transformative impact of the S&P 500 ETF.”
CoinDCX Research Team told ABP Live, “In the last 24 hours, both BTC and ETH maintained positive momentum after the release of weekly jobless claims data and US GDP quarterly growth data. The US market also closed in the green, and the decline in the DXY (dollar index) is viewed positively for the crypto market. BTC is currently positioned near the resistance zone at $44,000-$44,500. On the other hand, ETH is trading between two significant levels at $2,130 (support) and $2,450 (resistance). As it’s the weekend and Christmas, lower market volume is anticipated, possibly leading to sideways movement for a few days. Notably, top altcoins such as Solana, AVAX, and DOT continue to show strength in the market.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Tags: Crypto News, Cryptocurrency, Insights