2024-12-2 09:22 |
The cryptocurrency market is witnessing a surge in bullish sentiment as Bitcoin (BTC) edges closer to the $100K milestone, while altcoins like XRP and Hedera (HBAR) record staggering gains.
Over the past 24 hours, XRP surged by 30%, reclaiming its position as the third-largest cryptocurrency by market cap, while Hedera skyrocketed by 44%, making it the top gainer.
With the global crypto market capitalization surpassing $3.49 trillion and trading volumes rising sharply, investors remain optimistic about the market’s momentum.
Here’s a detailed breakdown of today’s key crypto price movements and trends.
Bitcoin inches toward $100KBitcoin (BTC) continues its steady climb, trading at $96,200—a 2% increase in the last 24 hours.
The flagship cryptocurrency fluctuated between $96,253 and $98,152, reflecting sustained investor interest. BTC’s market capitalization stands at $1.93 trillion, accounting for 55.4% of the total market.
However, Bitcoin’s dominance has slightly declined as altcoins attract more attention.
Source: CoinMarketcap
XRP surges by 30%, reclaims third spot by market capXRP has emerged as the star performer, surging 30% to reach $2.42, with a daily range between $1.85 and $2.49.
This remarkable rally has pushed XRP’s market cap to $137 billion, surpassing Tether and Solana.
XRP now holds a 4% market dominance, showcasing its growing influence in the crypto ecosystem.
Hedera leads the charge with a 44% rallyHedera (HBAR) recorded the highest gains among cryptocurrencies, surging by 44% to $0.25.
The altcoin’s 24-hour low and high were $0.16 and $0.24, respectively.
Analysts predict further upside potential for HBAR, with some forecasting a possible 192% rally shortly.
Hedera’s rapid growth underscores increasing confidence in its blockchain technology and market potential.
Source: CoinMarketcap
Ethereum and Solana show modest gainsEthereum (ETH) climbed 2% to trade at $3,751, with its market cap reaching $452 billion.
ETH’s trading range for the day was $3,679 to $3,761, reflecting stable growth.
Solana (SOL), on the other hand, saw a slight dip of 1%, trading at $234.
Despite minor fluctuations, Solana has maintained a strong position in the market, with a market cap of $111 billion.
Its trading volume of $3.91 billion highlights continued investor interest.
Meme coins rebound with significant gainsMeme coins are back in the spotlight, with Dogecoin (DOGE) and Shiba Inu (SHIB) posting impressive gains.
DOGE rose by 8%, trading at $0.45, while SHIB climbed to $0.00003108.
Other meme tokens like PEPE and BONK also recorded gains between 3% and 8%, reflecting renewed interest among retail investors.
Top losers: Core and Ethena face setbacksNot all cryptocurrencies rode the bullish wave.
Core (CORE) dropped by 12% to $1.57, while Ethena (ENA) fell by 6%, trading at $0.82.
These declines highlight the mixed performance of certain altcoins amidst an overall bullish market trend.
The Fear and Greed Index stands at 82, signaling extreme greed as investors pour into the market.
The global crypto market cap rose by 3%, while trading volume increased by 10% to $170 billion.
Analysts attribute the bullish momentum to strong altcoin performances and Bitcoin’s approach to the $100K psychological level.
As the market remains optimistic, all eyes are on whether Bitcoin can break the $100K barrier and if altcoins can sustain their rally. The coming days will likely set the tone for the next phase of the crypto market’s growth.
The post Crypto market snapshot Dec 2: BTC at $96K as XRP and Hedera lead market rally with double-digit gains appeared first on Invezz
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