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Bitcoin Hits Monthly Low, Altcoins Extend Losses
Today, crypto prices remained under pressure as Bitcoin (BTC) fell near its monthly low. Altcoins also continued to face declines, reflecting a bearish trend across the crypto market.
Tether (USDT), the largest stablecoin by market capitalization, may face removal from European exchanges due to non-compliance with new Markets in Crypto-Assets (MiCA) regulations. The compliance deadline of December 30, 2024, has raised uncertainty among market participants.
FTX Token (FTT) emerged as a top gainer today, with a 7% surge in its price. This development follows FTX’s announcement that claims processing will begin on January 3 next year, with $16 billion in cash expected to be repaid.
The global crypto market has declined by approximately 1.5% over the last 24 hours, standing at $3.29 trillion. However, trading volume saw a 12% rise, reaching $90 billion.
Here’s a brief overview of some leading cryptocurrencies by market cap and their crypto prices today, December 30.
Crypto Prices Today: BTC Falls Below $94K, XRP, and SOL Drop Amid Market Pressure
Crypto prices today saw Bitcoin (BTC) falling below $94,000, marking a sharp decline. Michael Saylor hinted at buying more Bitcoin through his recent post on X, sparking investor interest. Ethereum (ETH) was the only coin in green, registering a 1% price surge amid the market downturn.
Bitcoin Price Today
Bitcoin price was trading at $93,400, with a 1.3% drop in the last 24 hours. Its 24-hour low and high were $93,079 and $95,341, respectively. However, trading volume surged by 40%, reaching $32 billion.
According to SoSo Value, BTC ETF recorded a weekly inflow of $387 million last week, indicating renewed institutional interest. In other news, Bitcoin’s clean energy usage has exceeded 50%, highlighting its progress in sustainability. Elon Musk had previously stated he might accept BTC for payments, leaving the community eager for updates.
Ethereum Price Today
Ethereum (ETH) price was trading at $3,421, reflecting a 1% surge in the last 24 hours. Its 24-hour low and high were $3,327 and $3,434, respectively. ETH ETFs saw a weekly inflow of $349 million, second only to BTC ETFs.
However, concerns loom as Coingape analysts warn of a potential $2,600 crash. This follows a massive inflow of 110K ETH into exchanges, signaling possible sell pressure.
XRP Price Today
XRP price was trading at $2.12, marking an approximate 3% drop in the last 24 hours. Its 24-hour low and high were $2.076 and $2.197, respectively.
Solana Price Today
Solana (SOL) price was trading at $192, reflecting a 1% drop in the last 24 hours. The crypto prices today for SOL revealed a 24-hour low of $188.73 and a high of $197.59, showcasing slight volatility.
Top Crypto Gainer Prices Today
FTX Token
FTX Token (FTT) price was trading at $3.75, showing a 10% rise in the last 24 hours. The crypto prices today for FTT recorded a 24-hour low of $3.416 and a high of $3.826, reflecting strong upward momentum.
Ethena
Ethena (ENA) price was trading at $1, showing an approximate 6% price surge in the last 24 hours. Its 24-hour low and high were $0.91 and $1.01, respectively. Trading volume surged by 45%, reaching $352 million, indicating increased market activity.
Moreover, KuCoin Token (KCS) and Virtuals Protocols (VIRTUAL) have seen gains of 1% to 3% in the last 24 hours. This indicates a positive trend amid the ongoing market fluctuations.
Top Crypto Loser Prices Today
Bitget Token
BGB token became the top loser for today, with an approximate 20% loss in the last 24 hours. Its 24-hour low and high were $6.01 and $7.85, respectively, while trading volume surged by 47%, reaching $1.34 billion.
Pudgy Penguins
PENGU price dropped by 10% and is currently trading at $0.032. Its 24-hour low and high were $0.031 and $0.036, respectively. Despite the recent drop, crypto prices today show that PENGU has surged by 500% in the last month.
Movement (MOVE), OKB, and Beam (BEAM) have seen a drop of approximately 5% in the last 24 hours, reflecting a slight downturn in their prices.
Besides this, the hourly chart is also showing downward momentum, with Bitcoin price down by 0.23%. Other major altcoins are showing a similar pattern, each down by approximately 1% in the last hour.
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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RLUSD, the stablecoin floated by American blockchain payments firm Ripple Labs is growing at a fast pace, currently flipping its core rivals in 24 hour trading volume. Despite the stablecoin’s young age, it has printed a sustained growth track to beat Paypal’s PYUSD and Circle’s EURC tokens. This milestone comes despite Ripple USD showcasing a much smaller market capitalization than the duo.
RLUSD Stablecoin and the Performance Metrics
Per data from CoinMarketCap, the Ripple stablecoin boasts a self-reported market cap of $53.1 million. Atop this, the stablecoin saw its trading volume jump by 1,566% in 24 hours to $607.58 million.
This unexpected boost contrasts sharply with Paypal’s PYUSD with a $491.72 million capitalization and a 24 hour volume of $19.74 million. Also, Circle’s EURC, a MiCA-compliant token with market cap of $82.38 million and $10.55 million volume.
While it remains unclear the reasons for the RLUSD stablecoin growth, uptickthe current outlook positions it as the 3rd most traded token after Tether (USDT) and Circle’s USDC.
A related growth is seen across the board for Ripple coin per data insights from XPMarkets. At the moment, the token has a total user of 7,600, up from the 1000 it recorded 24 hours after Ripple launched the stablecoin in December, 2024.
With the RLUSD stablecoin’s growth trend, it is now the 13th largest asset on the XRP Ledger by market capitalization.
The token’s growth also hinges on its expansion on top trading platforms globally. As reported earlier by Coingape, it launched on Bullish on Christmas Eve after it made its global debut on Uphold and Bitso. These listings helped boost its liquidity and accessibility by users.
Ripple, XRP Ledger and RWA Agenda
Beyond its direct role in facilitating payments, Ripple Labs has a bigger plan for the RLUSD stablecoin. The firm is making ambitious move in the Real World Tokenization (RWA) world through its partnership with Archax.
Ultimately, the firm hopes to integrate the stablecoin as a primary liquidity layer in driving this use case. The firm recently launched its first tokenized money market fund on XRP Ledger lately, establishing its foothold in this industry.
Ripple executives have reiterated how the stablecoin, XRP Ledger and XRP will form a complementary bond across its product suite. The liquidity boost of the stablecoin might account for the latest rally in the price of XRP as reported earlier by Coingape.
As of writing, the coin was changing hands for $2.432, up by 2.6% in the past 24 hours. In an earlier XRP price analysis, the coin is projected to hit Should the broad Ripple plans work out, analysts are projecting a potential push to $3.5.
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.
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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Crypto analyst Master Kenobi has revealed two levels to watch out for before the FLOKI price hits a new all-time high (ATH). The analyst also revealed the timeline for when the top meme coin could reach these price targets.
Two Levels To Watch Before FLOKI Price Hits ATH
In an X post, Master Kenobi revealed $0.00021 and $0.00028 as two levels to watch before the FLOKI price hits its current ATH of $0.00035 and enters price discovery. He added that he believes that the top meme coin will hit these price levels this month.
The analyst’s accompanying chart showed that FLOKI could rally to as high as $0.0011 as it rallies to a new ATH. A rally to this price level represents a gain of around 478% for the meme coin.
Master Kenobi also recently provided a bullish outlook for the FLOKI price. The crypto analyst mentioned that the crypto was on the verge of a massive breakout that could send its price to around $0.00080.
In a recent X post, he again reaffirmed that the meme coin was on the verge of a price breakout. Master Kenobi suggested that FLOKI could soon breakout from the two-weeks rectangle.
More Bullish Outlook For The Top Meme Coin
Other crypto analysts have provided a bullish outlook for the FLOKI price. One of them is World Of Charts. In an X post, the crypto analyst noted that the meme coin has recorded a 2x price increase from its last breakout.
He added that FLOKI is now bouncing again from the horizontal support area and approaching the bullish flag trendline. In line with this, World Of Charts predicted that the meme coin could record another 2x price increase in the coming days.
Crypto analyst Poseidon noted that the FLOKI price has recorded 300 days of consolidation. He remarked that this consolidation phase should end with an expansion to the upside.
From a fundamentals perspective, FLOKI also has a bullish outlook. As CoinGape reported, the meme coin’s ETP could go live in the first quarter of this year. This fund will attract institutional inflows into the coin’s ecosystem and possibly contribute to future price rallies.
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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With the Bitcoin price sliding below $100k, the crypto market sentiments drifted away from the ‘Greed.’ However, the outlook can get even worse, as the recent market finding hints at the possibility of a global economic recession, which could create a major crash for all financial markets. Let us discuss the analysts’ recent findings on the recession and its impact on the crypto industry.
Bullish Crypto Market Sentiment at Risk With New Recession Prediction
An on-chain analytics firm, Bravos Research has brought investors’ attention to a rare but historically significant event. According to the firm, the yield curve has just un-inverted, and the last three times it happened, it led to economic downturns. Overall, these findings highlight the possibility of the upcoming recession, as the short-term bond yield has dropped below the long-term yield before reverting. Interestingly, this is the widely popular and accurate indicator of economic recession, which predicted the Great Depression of 1929, the dot-com crash in the 2000s, and the financial crisis 2008.
Now, the yield curve has been inverted ever since early 2023 but has finally been un-inverted, concerning the investors and their sentiments. However, there are minor changes that could delay the recession. The Bravos Research findings revealed that there is un-inversion but the 10-year yield rose, which has not happened in the previous cycles. Additionally, the GDP growth and unemployment hikes in the previous recession align with the falling yield. However, that is not the case in the present situation. The rise in 10 year-yield shows resilience in economic fundamentals.
Eventually, this divergence disturbs the recession prediction, but it does not completely change that. The recession’s possibility could still continue and affect the Bitcoin and the market despite the rise of unemployment rates and the steepening of the yield curve.
How Will the Crypto Market React?
Although the crypto market often moves against the traditional market, the recession and similar macroeconomic events could also break the performance of digital assets. As all the financial markets rely on capital inflow, a recession can impact investors’ risk-taking sentiments. Meanwhile, the interest rate goes up, which prevents borrowing to invest. However, historical records also show that compared to the traditional market, recovery in most cases is faster in terms of crypto sentiments. Regardless, Bitcoin and the rest of the top cryptos have not witnessed a major recession. This is why an accurate market behavior prediction is hard to conclude.
For now, analysts believe that increasing bond yield could trigger volatility in most financial markets, whose impact will be seen in crypto market sentiments as well. However, as the reports hint, if the recession is delayed, it could present further opportunities for strategic accumulation.
What Investor Should Do Next?
The crypto market depends on hundreds of factors and could occasionally bring high volatility. The recession period will bring a similar outcome but on a higher level. For situations like this, crypto analysts have often suggested working with a diversified crypto portfolio and implementing risk management tactics. More importantly, investors should look for a long-term growth outlook and invest in utility-based tokens like Bitcoin. The Rich Dad and Poor Dad, Robert Kiyosaki, say, buy and forget. Interestingly, Kiyosaki confirmed a global market crash but called that a buying opportunity rather than a threat.
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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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