The uncertainty of the cryptocurrency market has consistently amazed people. Its sudden ups and downs set it apart from other financial markets. Therefore, market volatility has always been an important factor for investors and traders in the cryptocurrency world. With nearly 16,000 crypto tokens and 447 exchanges, the digital asset industry is growing rapidly.
People all over the world treat crypto as an investment grade asset. You invest and trade multiple cryptocurrencies for significant profits. In addition, they use cryptocurrencies for payments and transactions. The total market capitalization of the market reached $3 trillion that year, indicating tremendous growth in the sector. That market cap has been declining lately due to a declining market. However, it grew nearly 5% on the last day to reach $2.38 trillion.
Bitcoin crosses green market $51,000
Bitcoin is very important and important in the field of cryptocurrency. As the oldest, most valuable, and most sought after cryptocurrency asset, Bitcoin maintains an integral position in the industry. Market dynamics may change due to various factors, but the meaning of Bitcoin remains the same. Bitcoin market dominance is currently 40.50% and once again saved the market from crashing.
Bitcoin’s performance has a strong impact on the market. Leading cryptocurrencies have also seen price fluctuations over the years. Similarly, Bitcoin saw new highs and lows in 2021. BTC started the year near $25,000, crossed $63,000, then dropped back into the $30,000 area. However, the coin set a new all-time record of $68,000, but again $45,000. However, the coin regained its lost value and broke another $51,000 margin.
At the time of writing, Bitcoin is worth over $51,100. The coin has seen a 5.50% increase in value over the last 24 hours. Plus, BTC is up nearly 7% in the past week. The coin’s 24-hour trading volume is over $28.50 billion, and its market cap has also exceeded $966 billion. It looks like the coin is recovering from the ongoing bearish trend. Moreover, experts believe that the token could represent the last big pump of the year.
Ethereum is responsible and altcoins follow
Ethereum is the leading altcoin in the cryptocurrency market. It is also the second largest cryptocurrency in terms of market cap. The coin maintains a strong position in the market due to its current dominance of 20.50%. Ethereum’s performance has had a huge impact on the altcoin market, which ETH sees as a leader.
The coin recently hit $5,000. However, with the recent decline, ETH has again consolidated below USD 4,000. However, the token showed positive intent and recorded an increase of 3.50%. Most importantly, the coin has approached $4,100. Market cap and trading volume also held strong positions in the last few hours of trading.
On the other hand, altcoins are also following the path led by Bitcoin and Ethereum. Almost the entire market has gone green and looks like the last pump for 2021. Altcoin traders and investors need this breakthrough to sustain their investments. BNB hit $545, DOT neared $3, VET hit $0.094, and MATIC hit $2.60 in line with ETH growth.
ADA finally exploded, LUNA, SHIB and CRO posted huge profits
Cardanos ADA is one of the best cryptocurrency tokens out there. Not only does it attract big investments, but it also has a strong community that supports the coin. Experts and analysts always praise the coin for its effectiveness, fundamentals, roadmap and project goals. Despite the big gains that year, ADA is set for a rather daunting end to the year. It was stuck in a tight range near $1.30.
However, in the last day or so, the coin has increased by 9%. ADA has closed the $1.50 gap which may be important to the coin’s future price development. Plus, the coin is about 16% higher than its price last week. It also suggests that there may be more profit to be made in the coming days.
On the other hand, XRP is down 2.66% in the last 24 hours. It remains around $0.97, however, up about 20% from the previous week. SOL exceeds $188, up 4%. LTC, UNI, LINK, ICP, EGLD and ALGO also increased significantly. Their trading volume and market cap also show a positive outlook for the coin.
The list of winners on the last day is incomplete if Terra (LUNA) and Shiba Inu (SHIB) are not mentioned. Both posted double-digit gains. Terra increased 12%. Surprisingly, it grew by about 50.50% in the past week or so. LUNA seems ready to break through the three-digit number. It attracts a large consumer audience due to its astonishing price spike.
The Shiba Inu meme coin also saw an 11% increase in its valuation. The SHIB price is over $0.0000039, up 18.50% over the past week. SHIB’s trading volume was also positive as it exceeded $2.20 billion. The coin market cap is over $21.50 billion. CRO also saw its valuation rise 13% to hit $0.61 in the final hours of trading.
MANA and SAND show that metauniverse coins are back
The fourth quarter of this year turned out to be a turning point for coins from the metauniverse. They have accumulated huge gains in their price, trading volume and market cap. Some names like MANA, GALA and SAND are making strong statements in the consumer realm. However, the coin is consolidating amid a downturn in the digital currency market. There is speculation about the presentation of these coins.
However, as the market seems to be recovering, this meta-universal coin is also making a comeback. SAND made a big profit, raking in about 23.20% of $6.30. SAND is up more than 25% in the past week. At the time of writing, the SAND is priced at around $6.15. However, the chart below shows the coin’s performance very well on the last day. SAND also seems poised to see additional gains and benefits for its traders and investors.
MANA Decentraland experienced a staggering 17.30% increase in value. It came to $3.82. Its market cap is nearly $7 billion and its trading volume is over $1.53 billion. It seems that the coin is poised to take additional profits and break the previous high around $3.85.