Over the past week, the price of Bitcoin has hovered between $90,000 and $99,000.
XRP was a standout performer today, gaining 9% and trading at $1.65.
Algorand (ALGO) has become the best performing coin in the market today, gaining 20% in the past 24 hours.
The cryptocurrency market has shown mixed but promising action today (November 29, 2024), with Bitcoin (BTC) holding onto $96,000, indicating continued growth in market confidence.
Meanwhile, altcoins saw mixed performances, with some seeing sharp gains and others seeing slight declines.
Notably, XRP surged 9% following favorable developments in the legal situation, while Algorand (ALGO) emerged as the top gainer of the day, up 20%.
Despite the drop in trading volumes, the overall cryptocurrency market capitalization still increased by 1% and now stands at $3.32 trillion, reflecting a steady upward trend for major cryptocurrencies.
Bitcoin (BTC) Maintains Momentum towards $96,000
Bitcoin (BTC) continues to show strength, trading at $96,000, up 1% in the past 24 hours.
Bitcoin has been hovering between $90,000 and $99,000 over the past week, establishing solid support at the $95,000 mark.
BTC’s market capitalization has now reached a staggering $1.91 trillion, accounting for 57.08% of the market share.
24-hour trading volume reached $50 billion, further solidifying Bitcoin’s dominance in the global market.
Additionally, as Bitcoin adoption continues to expand around the world, the Swiss canton of Bern passed a bill exploring the environmental impact of Bitcoin mining, a move seen as further support for crypto-friendly regions.
Ethereum (ETH) and Solana (SOL) show small gains
Ethereum (ETH) fell slightly by 1% and is trading at $3,583.
Despite the decline, Ethereum still maintains its position as the second-largest cryptocurrency with a market cap of $431 billion.
Ethereum’s transaction volume was $31 billion, accounting for 12.9%.
Analysts predict that Ethereum’s price could surge to $4,000, especially if Bitcoin’s price continues to consolidate or rise further.
Solana (SOL), on the other hand, is up 1% and is currently trading at $241.
Ranked as the fourth-largest cryptocurrency with a market cap of $115 billion, Solana has made notable progress in growing its user base and strengthening its position in the competitive cryptocurrency space.
XRP surges 9% on legal victory
XRP was a standout performer today, gaining 9% and trading at $1.65.
The rise was attributed to positive legal news surrounding the ongoing Ripple lawsuit.
The U.S. court’s decision to expedite the case offers hope for a favorable outcome for XRP holders.
XRP’s market cap currently stands at $89 billion, with a trading volume of $6 billion.
As the world’s sixth-largest cryptocurrency, XRP continues to gain traction, with many analysts speculating that it could experience a rebound if the court’s decision is in its favor.
Algorand (ALGO) leads the gains, surging 20%
Algorand (ALGO) has become the best performing coin in the market today, gaining 20% in the past 24 hours.
ALGO is currently trading at $0.35, having risen from a low of $0.28 to a high of $0.35.
The massive growth has put Algorand at the forefront, and analysts are closely watching the asset’s continued growth.
Meme coins show resilience
Memecoins including Dogecoin (DOGE) and Shiba Inucoin (SHIB) also saw slight gains.
DOGE is trading at $0.40, up 1%, and SHIB is up 2% and trading at $0.00002589.
The resurgence of memecoins has sparked renewed interest as investors closely watch their performance in tandem with bitcoin’s price action.
The overall market remains positive, with many altcoins showing bullish signs.
Worldcoin (WLD) is up 15% and is trading at $2.80, indicating that there is still potential for further gains.
On the negative side, Ethena (ENA) and Fantom (FTM) dropped by 5% and are trading at $0.71 and $0.102, respectively.
Although overall trading volume fell 24% to $153 billion, the 1% increase in market capitalization indicated market optimism.
