- The global crypto market cap has increased by 1.7% in the last 24 hours.
- Bitcoin rises above the $50,000 mark after a 2.55% increase in price value since yesterday.
- Ethereum turns bullish with the rest of the crypto market, gaining 1.18%.
- Polkadot surged over 9% in the last 24 hours, and Terra reports losses for the first time in a while.
Just yesterday, most of the top cryptocurrencies had experienced drops in their price value, which had investors around the world worried. Today has brought new hope for crypto investors as many cryptocurrencies, including Ethereum and Bitcoin, see green.
In the last 24 hours, the global crypto market capitalization sprung up to $2.39 trillion from $2.35 trillion. Moreover, the trading volume reached as high as $75 billion on December 27 when it was only $72.62 billion just 24 hours ago.
The bullish run has reversed the damage caused by the bearish run, and investors are hopeful that the crypto market will continue to see green for a while. However, knowing the crypto market, we understand that the market is constantly moving, but no one can be sure where the market is headed.
Let’s jump-start the day with a daily round-up of the most exciting cryptocurrencies in the crypto market today.
Bitcoin’s price to skyrocket again?
While Bitcoin is the most popular cryptocurrency worldwide, it is famous for being highly volatile, experiencing huge losses within short periods. Despite all that, Bitcoin has remained the top-performing cryptocurrency for years now.
The price value of Bitcoin continues to fluctuate in December 2021 but now shows signs of improvement. The price value of one Bitcoin was $49,820 just yesterday but today it has reached (at the time of writing) $51,100. This significant increase in price value will definitely cause restlessness amongst investors around the world.
After the crypto market had experienced a bearish run just yesterday, hopes for recovery were slim, but Bitcoin managed to surprise us all. Thanks to this increase in price, Bitcoin’s market cap reached $967 billion.
ETH in green, follows the bullish run
Ethereum, the world’s largest altcoin, managed to stay above the $4,000 mark even during the bearish run yesterday. The cryptocurrency did not hold back when other top cryptocurrencies in the market experienced gains. Ethereum’s price value reached $4,087 after gaining 1.18% in just 24 hours.
The top altcoin had previously shown signs of stability but continues to show changes because of the sudden market movements. Investors hope that the bullish run lasts long enough for Ethereum to strengthen its position above the $4,000 mark.
Ethereum could reach new skies and the next few days could prove to be critical. TAll the investors have a question about whether the cryptocurrency will continue to gain and maintain itself at new heights.
Terra reports losses, Polkadot reports impressive gains
Terra had been moving up in the crypto world and had been reporting massive gains for quite some time now. Terra (LUNA) was amongst the biggest gainers in the crypto market just a few weeks ago. Terra managed to enter into the top 10 cryptocurrencies with its impressive performance.
While the other top cryptocurrencies see green, Terra was forced to report losses. The price value of LUNA fell down to $96.60 after a 2.53% loss in the last 24 hours. However, the cryptocurrency was doing well previously and remained at the number 9 spot, just above Polkadot.
Is Polkadot going to be the next big thing in the crypto market? It seems like it is a real possibility after the price value of the cryptocurrency stirred up excitement when it increased by 9.58% in just 24 hours to reach $32.31.
As you might agree, these are significant gains for any cryptocurrency. The increase in its price value helped Polkadot move into the top 10 cryptocurrencies with its market cap reaching $31,904,793,451.
Polkadot, with their revolutionary blockchain systems, continue to attract investors. The cryptocurrency had suffered huge losses just last week. However, it is safe to say that the damage caused by the bearish market has been overcome and the cryptocurrency is now performing well in the market.
As most of the top cryptocurrencies show improvement, investors continue to wonder whether this bullish run will last and if it will, then for how long?
No one can say for sure where the crypto market is headed right now. With the end of the year fast approaching, many analysts remain convinced that BTC and ETH are still within a long-term bull cycle. However, it is essential to remember that the crypto markets are uncertain and unstable and have continued to surprise us all in the past.