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BTC Surges Above $102K, Virtual Rises 16%, Core Gains 10%

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1 week ago

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The crypto market looks bullish as Bitcoin (BTC) started trading above $102,000. Major altcoins are trading with 2% to 5% gains in the last 24 hours. Virtual Protocol (VIRTUAL) and Core (CORE) emerged as the top gainers, with 16% and 10% surges, respectively.

The global crypto market cap stands at $3.66 trillion, reflecting a 2% gain in the last 24 hours. However, the trading volume is down by 20%, currently at $173 billion. Let’s look at some leading cryptocurrencies by market cap and their price movements today.

Crypto Prices Today: Bitcoin Crossed $100K, ETH and XRP See Gains

Bitcoin (BTC) has surged past the $100K mark again, trading above $102,000. Ethereum (ETH) is up by 2%, while XRP has surged by 5%. Top meme coins have also shown strength, recording gains of 2% to 3% in the last 24 hours. Meanwhile, VanEck predicts new all-time highs for Bitcoin, Ethereum, and Solana by 2025, driven by U.S. adoption, innovations, and AI integration in blockchain technology.

Bitcoin Price Today

Bitcoin (BTC) price was trading at $102,000, marking a 3% rise in the last 24 hours. Its 24-hour low and high were recorded at $99,539 and $102,629, respectively. The cryptocurrency’s market cap reached $2.02 trillion, with a trading volume of $58 billion. Bitcoin’s market dominance stood strong at 55.3%, reflecting its continued leadership in the crypto market.

ETF inflows showed mixed activity as Farside Investor reported a $35 million inflow into BTC ETFs on Friday. Fidelity added $60 million worth of Bitcoin ETFs to its holdings, signaling strong institutional interest. However, Grayscale experienced a significant $100 million outflow, indicating contrasting movements within the ETF space.

In other news, Frank Ahlgren from Austin, Texas, was sentenced to two years in prison for tax fraud. He failed to report $3.7 million in Bitcoin (BTC) gains, highlighting the ongoing challenges of tax compliance in cryptocurrency investments.

Ethereum Price Today

Ethereum (ETH) price was trading at $3,919, reflecting a slight increase from yesterday. Over the past 24 hours, it’s low and high ranged between $3,873 and $3,968. As per the latest crypto prices today, ETH has shown impressive growth over the month, gaining 22% and maintaining strong momentum in the market. Its market cap stood at $472 billion, supported by a trading volume of $34 billion.

ETH ETFs recorded an inflow of $14 million, signaling growing interest from institutional investors. Grayscale and Fidelity contributed equally, each accounting for $7 million in inflows. However, BlackRock’s ETF data remains awaited, leaving market participants eager for further updates.

XRP Price Today

XRP price was trading at $2.44, reflecting a 5% increase over the last 24 hours. Its 24-hour low and high were $2.29 and $2.47, respectively, with a market cap of $140 billion and a trading volume of $9 billion, making it the 4th largest cryptocurrency by market cap. Crypto analyst Dark Defender has highlighted crucial targets to watch out for in the XRP price, following the completion of a bull flag pattern, suggesting further potential upward movement.

Solana Price Today

Solana (SOL) price was trading at $226, reflecting a 1% drop in the last 24 hours. Its 24-hour low and high were $220 and $227, respectively. The market cap stood at $108 billion, with a trading volume of $4 billion. As per the latest crypto prices today, analysts at CoinGape are forecasting a potential surge in Solana price, driven by bullish trends dominating the crypto market. SOL is gaining momentum, attracting developers and investors, with many anticipating a 100% surge in the coming months.

Meme Crypto Prices Today

Meme coins are also showing positive momentum, with Dogecoin (DOGE) up by 2%, trading at $0.41. Shiba Inu (SHIB) gained 3%, reaching $0.00002852. Other notable meme coins like PEPE, BONK, and FLOKI saw increases of 2% to 4% in the last 24 hours, reflecting a broad upward trend in this segment of the market.

Top Crypto Gainers Prices Today

Virtuals Protocol

VIRTUAL price was up by 16%, becoming the top gainer for today, trading at $2.53. It surged by 40% over the past week and 628% over the last month. The price surge followed the announcement that VIRTUAL would be listed on Binance, one of the top exchanges in the world, driving significant investor interest and market momentum.

Core

CORE price became the 2nd highest gainer of the day, with a 10% increase over the last 24 hours. The price was trading at $1.50, with a 24-hour low of $1.368 and a high of $1.511, showing positive momentum in the market. The strong performance aligns with the overall bullish trend seen in crypto prices today.

Movement

MOVE price was up by 8%, trading at $0.6833. Its 24-hour high and low were $0.6891 and $0.5989, respectively. The market cap stood at $1.54 billion, with a trading volume of $539 million, reflecting strong activity in the market.

Top Crypto Losers Prices Today

Aerodrome Finance

AERO price was the weakest performer of the day, with a 4% decline in the last 24 hours. It was trading at $2.09, with a 24-hour low of $1.99 and a high of $2.20. Despite the decline, the overall trend in crypto prices today remains positive for most other tokens.

Lido Dao

LDO price was down by 3%, trading at $2.23. Its market cap stands at $2 billion, with a 24-hour high of $2.347, reflecting a slight decline amid a generally positive market.

Overall, the hourly time frame looks bullish with Bitcoin and major top altcoins showing strength in the hourly chart. XRP is up by 1% in the last 24 hours, contributing to the positive momentum. This aligns with the current trends in crypto prices today, where key cryptocurrencies continue to perform well.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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CryptoQuant Hails Binance Reserve Amid High Leverage Trading

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2 hours ago

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December 23, 2024

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Crypto analytics platform CryptoQuant has conducted a deep dive research into Binance and other centralized exchanges to uncover how susceptible they are to liquidity risks. With the crypto ecosystem trading at a very high premium, exchanges require high liquidity to meet growing demands. Of its findings, CryptoQuant singles out Binance and OKX as platforms to watch out for.

What Makes Binance Stand Out from Centralized Exchanges?

According to CryptoQuant, it analyzed the leverage levels of top centralized exchanges. It conducted this exercise to evaluate their liquidity, default risk and how crypto reserves backs trading activity. The analysis also employs leverage ratio calculation to estimate trader’s exposures.

Based on this, the analytics firm singled out Binance as an exchange with robust reserves. The trading platform maintains this reserve despite the significant growth in open interest this year. This is signficant, considering how Binance Futures list new tokens to fuel this expansion including Solana’s Fartcoin.

“Its reserves in Bitcoin, Ethereum, and USDT comfortably exceed its open interest. Binance also reported the lowest and most stable leverage ratio among major exchanges, with a ratio of 12.8 in December 2023, rising slightly to 13.5 in December 2024,” the CryptoQaunt report reads.

As pointed out, this stability and the 2.6x expansion in Bitcoin open interest on the platform from $4.45 billion to $11.64 billion implies that the exchange can handle unexpected liquidations.

As the report hinted, smaller exchanges like OKX also maintain low leverage ratios.

Centralized Exchanges and Avoiding the FTX Saga

In addition to the Binance spotlight, CryptoQuant also mentioned Gate io, Bybit, and Deribit. However, the report noted that these trading platforms have the highest leverage ratios in the market pegged at 106, 86, and 32, respectively. Notably, this figures show open interests for Bitcoin and Ethereum is higher than the existing reserves available on these centralized exchanges.

The analysis concluded by flagging the impact of high leverage trading, one of the major causes of the FTX Derivatives Exchange collapse. This report serves as an eye opener that can help traders manage risk per platforms they trade on.

Meanwhile, FTX is at the tail end of its bankruptcy proceedings. As Coingape reported earlier, FTX has set January 3 as the date to commence creditor repayment.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Transfers 90M Coins, What’s Happening?

Published

12 hours ago

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December 22, 2024

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XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

Ripple has emerged as one of the top post-election performers, quadrupling in value since November 5. This impressive rally, alongside gains in other cryptocurrencies, has spotlighted digital assets and fueled speculation about their potential trajectory heading into 2025.

XRP Whales Make Massive Moves, Sparking Price Speculation

XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

The unusually large withdrawals, flagged by Whale Alert, have sparked heightened interest among investors and increased speculation about the token’s future price movement.

Whale Alert reveals that the recent XRP transfers consisted of two significant transactions. The largest involved 50 million tokens, valued at approximately $112.5 million, moved to a newly created wallet. The second transaction saw 40 million tokens worth $90 million sent to a recently activated address.

The destination wallets are not linked to any known cryptocurrency exchanges, leading investors to speculate that high-net-worth individuals or institutional investors may be accumulating Ripple. This has fueled expectations of further price movement. Also, recently, renowned hedge fund manager Scott Melker has revealed that former President Donald Trump is actively accumulating XRP and HBAR tokens.

Crypto analysts think that large transfers to exchanges from unknown wallets are often a bullish indicator. This is a signal that the whales-the major holders-are moving their holdings to cold storage, which typically reflects a long strategy, rather than short-term selling. This can set up a positive outlook for the cryptocurrency’s price. However, the reversal situation results usually with reversal outcome so it’s interesting the price is still on the rise.

This development comes as a US appeals court announces the filing deadlines for the opening and reply briefs by Ripple and its CEO, Brad Garlinghouse.

Holding Steady at Key Support, Awaiting Next Move

XRP and the broader cryptocurrency market have remained relatively flat in recent days, with the token holding critical support levels that could spark a renewed uptrend. At the time of writing, XRP was trading at $2.25, reflecting a slight 0.35% rise over the past 24 hours.

If the bulls stay in control, Ripple may continue its upside, having key resistances between $3.62 and $4.30. A break above such a range could send prices towards $5.73. At 46, though, the RSI rests, showing that sellers have still managed to be at the helm and cap upside momentum. Increased buying pressure will, thus, be critical for resuming the uptrend.

The Awesome Oscillator supports a bullish divergence with the histogram bars turning positive, yet still remaining in negative territory. This indeed would hint at a possible reversal, though additional buying pressure needs to be generated to confirm the uptrend.

The critical support level that traders should watch is at $2.20. A drop below this might set off panic and send prices lower.

In spite of this uncertainty and the possible bearishness of it all, this token is still attracting a great deal of interest from institutional investors-a fact that points to its long-term potential.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of expertise in macroeconomics, technology, and the crypto and blockchain sectors.

She began her career in 2005 as a lifestyle writer for *Cosmopolitan* before transitioning to business and economic reporting for renowned outlets like *Forbes* and *Bloomberg*.

Inspired by thought leaders like Don and Alex Tapscott and Laura Shin, Teuta embraced blockchain’s potential, viewing cryptocurrency as one of humanity’s most transformative innovations.

Since 2014, she has specialized in fintech, focusing on crypto, blockchain, NFTs, and Web3. Known for her strong collaboration and communication skills, Teuta also holds dual MAs in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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How Low Will Ethereum Price Go By The End of December?

Published

15 hours ago

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December 22, 2024

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In a recent analysis, crypto analyst Justin Bennett provided insights into how low the Ethereum price could drop by the end of December. This came as the analyst revealed that buyers need to step or ETH could enter next week with a bearish outlook.

How Low Ethereum Price Can Go By Year-End

In an X post, Justin Bennett suggested that the Ethereum price could drop to as low as $3,027 by year-end. While analyzing ETH’s daily chart, the analyst stated that ETH needs to flip $3,541 as support to turn bullish next week. If that doesn’t happen, he remarked there is a decent chance that Ethereum drops lower. The analyst’s accompanying chart showed that ETH could even drop to as low as $2,560 if it loses the $3,027 support level.

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In an earlier X post, the crypto analyst stated that he is bullish on the Ethereum price based on the overall setup going into 2025. however, he believes that buyers still have work to do. He gave an example of how ETH needs to recover $3,540 on the weekly time frame to look bullish next week.

These buyers already look to be stepping in, as there has been an accumulation trend among ETH whales. Coingape reported that Ethereum whales are buying the dip as ETH eyes a quick rally to $4,000.

These whales have withdrawn 17,698 ETH worth $61.66 million from the crypto exchange Binance. Donald Trump’s World Liberty Financial has also gotten in on the act as the DeFi project accumulated more ETH on this dip.

Correction Might Be Over

In an X post, crypto analyst Titan of Crypto provided a more bullish outlook for the Ethereum price, stating that the correction might be over. The analyst made this statement based on his Ichimoku cloud analysis.

Titan of Crypto stated that Ethereum has retested both Tenkan and Kijun. He added that the worst-case scenario would be a retest of the Kumo Cloud SSB, Ichimoku’s strongest line.

ImageImage

According to a CoinGape market analysis, this might indeed be the last dip before ETH hits five digits. There are predictions that the Ethereum price could hit $15,937 by May 2025.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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