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BTC Hits $97K, HYPE and VIRTUAL Gain 25%

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2 days ago

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Cryptocurrency prices today are showing bullish momentum, with Bitcoin (BTC) rebounding above $97K after touching a low of $92K. Major altcoins like Ethereum (ETH) and XRP also saw gains, reflecting positive market sentiment.

Hyperliquid (HYPE) and Virtual Protocol (VIRTUAL) emerged as top gainers, each rising by 25% in the last 24 hours. Hyperliquid’s price surge follows Bitget’s announcement of listing its token on their exchange, while Virtual Protocol’s increase is attributed to the launch of their GAME SDK.

The global crypto market has also risen, reaching $3.38 trillion, up by approximately 0.5% in the last 24 hours. Trading volume surged by 10%, hitting $301 billion, showcasing increased activity in the market.

Cryptocurrency Prices Today: BTC Above $97K, ETH, XRP, SOL Gain

Cryptocurrency prices today reflect a positive shift, with Bitcoin (BTC) trading above $97K and major altcoins like Ethereum (ETH), XRP, and Solana (SOL) posting gains. Meme coins, including Dogecoin and Shiba Inu, also showed signs of recovery after recent declines.

Bitcoin Price Today

Bitcoin (BTC) price was trading at $97,412, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high were $92,210 and $98,136, respectively. The market cap stood at $1.93 trillion, with a trading volume of $100 billion, while BTC’s market dominance was recorded at 56.83%.

According to SoSo Value, BTC ETFs experienced outflows of $204 million, marking the second consecutive day of outflows after a long period. Additionally, Ark & 21Shares reported outflows of $87 million, while Fidelity recorded $71 million in withdrawals. Data from BlackRock regarding BTC ETF activity is still awaited.

In other news, Michael Saylor unveiled a mechanism demonstrating how the U.S. could generate $81 trillion by establishing a Strategic Bitcoin Reserve. This proposal has sparked discussions on leveraging Bitcoin for national financial strategies.

Ethereum Price Today

Ethereum (ETH) price was trading at $3,466, reflecting a 1% increase in the last 24 hours. Its 24-hour low and high were $3,099 and $3,497, respectively. Cryptocurrency prices today highlight ETH’s market cap at $417 billion, with a trading volume of $62 billion and a market dominance of 12.32%.

ETH ETFs saw an inflow of $28 million, with Fidelity purchasing $13 million worth of ETFs. Grayscale followed closely, buying $15 million in ETFs, while data from BlackRock is still awaited, which could influence cryptocurrency prices today.

In other news, Donald Trump’s World Liberty Financial has reportedly accumulated more ETH during the recent price dip. This development underscores growing institutional interest in Ethereum despite market volatility.

XRP Price Today

XRP price was trading at $2.31, reflecting a 0.5% increase in the last 24 hours. Its 24-hour low and high were $1.97 and $2.338, respectively. Cryptocurrency prices today show XRP’s market cap at $130 billion, with a trading volume of $26 billion. It remains the fourth-largest cryptocurrency by market cap, with a market dominance of 3.86%.

In other news, Ripple, the company behind XRP, has pledged $5 million in its native XRP token to support President-elect Donald Trump’s inauguration. This move highlights Ripple’s strategic initiatives and its commitment to fostering global partnerships.

Solana Price Today

Solana (SOL) price was trading at $193, with a 24-hour low of $175 and a high of $197. Cryptocurrency prices today show SOL’s market cap at $92 billion and a trading volume of $9 billion in the last 24 hours. Meanwhile, crypto analytics platform Glassnode reported significant capital movement across Solana assets, indicating heightened investor activity and interest in the Solana ecosystem.

Meme Cryptocurrency Prices Today

Meme coins have also followed the trend of major altcoins, with Dogecoin (DOGE) up by 1%, trading at $0.32. Similarly, Shiba Inu (SHIB) was also up by approximately 1%, trading at $0.00002259. Other top meme coins like PEPE, BONK, and WIF saw increases ranging from 2% to 9% in the last 24 hours, as cryptocurrency prices today show positive momentum in the meme coin market.

Top Cryptocurrency Gainer Prices Today

Hyperliquid

Hyperliquid (HYPE) price surged by 25% in the last 24 hours, trading at $31.97. Its 24-hour low and high were $22.96 and $32.23, respectively. Cryptocurrency prices today highlight HYPE’s market cap at $8.69 billion, with a trading volume of $583 million.

Virtual Protocol

Virtual Protocol price also saw a 25% gain, trading at $2.734. Its 24-hour low and high were $2.03 and $2.842, respectively. The market cap stands at $2.73 billion.

Ethena

Ethena (ENA) price rose by 16%, trading at $1.16. Its 24-hour low and high were $0.85 and $1.224, respectively. In other news, Ethena Labs has partnered with Trump-backed WLFI to boost stablecoin liquidity and rewards by adding sUSDe as core collateral on Aave.

Top Cryptocurrency Loser Prices Today

Aptos (APT)

Aptos (APT) price became the top loser for today, falling by 13% in the last 24 hours. It was trading at $10.23, with a 24-hour low and high of $9.90 and $11.77, respectively. The price drop is attributed to the resignation of Mo Shaikh, the co-founder and CEO of Aptos Labs, which has caused concerns within the community.

Hedera

Hedera (HBAR) became the second worst performer for today, with a 4% price drop, trading at $0.2688. Its 24-hour low and high were $0.23 and $0.28, respectively, with a market cap of $10 billion. In other news, the Hedera Foundation has announced Charles Adkins as its new CEO, effective January 1, 2025.

Besides this, the hourly chart is showing a rebound in the crypto market after yesterday’s flash crash. Bitcoin (BTC) and major altcoins are showing positive momentum, indicating a recovery in cryptocurrency prices today.

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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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24/7 Cryptocurrency News

CryptoQuant Hails Binance Reserve Amid High Leverage Trading

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3 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.

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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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