Highlights:
Today, the global cryptocurrency market cap increased by 3.5%, reaching $3.44 trillion.
Bitcoin, Ethereum, and some top altcoins have shown signs of recovery during the 'Santa Claus rally'.
Fartcoin, Pudgy Penguins (PENGU), and Movement (MOVE) are today's leading tokens.
However, Virtual Protocol and XDC Network performed poorly today, becoming the losers.
Overall, the cryptocurrency market rose today, with the global market cap up by 3.5%, reaching $3.44 trillion. However, due to the Christmas holiday, trading volume over the past 24 hours decreased by 16%. The Fear and Greed Index remains at 73, indicating a market sentiment leaning towards 'greed'.
Bitcoin (BTC) today stabilized above $98,000 after pulling back from near $99,000. With the expectation of a Santa Claus rally, mainstream altcoins like Ethereum (ETH), XRP, and Solana (SOL) also showed signs of recovery after some investors took profits. Meanwhile, meme coins DOGE and SHIB rose by 3% and 4% respectively in the past 24 hours.
Additionally, Fartcoin, Pudgy Penguins (PENGU), and Movement (MOVE) are today's leaders, with Fartcoin surging over 70%. Next, let's take a look at the cryptocurrencies ranked by market cap and price trends.
Today's cryptocurrency prices: BTC, ETH, XRP, and other altcoins rebound
Today, the cryptocurrency market showed moderate gains, with Bitcoin (BTC) and Ethereum (ETH) rebounding over 4% and 3% respectively, driving bullish sentiment and amplifying the recovery expected from the 'Santa Claus rally'.
Today's Bitcoin price
Bitcoin (BTC) reached a high of $99,404 today and is currently steady above $98,200. It rebounded from a 24-hour low of $93,689, with an increase of over 4%. However, trading volume decreased by 25% from yesterday's $70 billion, down to $44 billion. Bitcoin's market share rose to 56.71%, up 0.47% from the previous trading day.
However, the BTC ETF saw an outflow of $338.4 million on Tuesday, marking the fourth consecutive outflow for the spot Bitcoin ETF, leading to a slightly negative market sentiment. BlackRock's Bitcoin ETF (IBIT) saw the largest outflow at $188.7 million, followed by Fidelity's FBTC with $83.2 million, and ARKB with $75 million.
Despite Bitcoin's nearly 115% increase this year, most mining stocks have performed poorly, with only 7 out of 25 listed companies achieving positive returns. The Russian government announced a ban on cryptocurrency mining in six regions by 2031, raising concerns in the market.
Today's Ethereum price
Ethereum (ETH) rose 3% today, currently trading at $3,490, with a 24-hour low of $3,381 and a high of $3,535. Although Ethereum's price increased, trading volume decreased by 28% in 24 hours, indicating a reduction in market participants' interest.
Although the spot Bitcoin ETF has performed mediocrely, the spot Ethereum ETF recorded inflows on Tuesday, reaching $53.6 million, with BlackRock's iShares Ethereum ETF (ETHA) seeing inflows of $43.9 million.
The Ethereum development team is eagerly anticipating the Fusaka upgrade, believing it to be a significant improvement following Pectra, which will further promote the growth of Ethereum and its layer-two solutions in the decentralized finance (DeFi) space.
Today's XRP price
XRP is currently priced at $2.30, up 2% in the past 24 hours. The 24-hour low was $2.22, and the high was $2.35, with a market cap of $131.63 billion and a trading volume of $5.74 billion today. Despite a 29% decrease in trading volume, XRP's price continues to show an upward trend.
Analysts predict that XRP's price may rise further in the coming days, potentially increasing by up to 60%. Additionally, Ripple's RLUSD stablecoin has been listed on major exchanges like Bullish and Singapore's Independent Reserve, which could further drive price increases.
Today's Solana price
Solana (SOL) rose 4% today, currently priced at $198.61. SOL needs to break through the psychological barrier of $200 to continue rising, with today's low at $189 and high at $201.63, while trading volume decreased by 15%.
Recently, Binance and founder Changpeng Zhao (CZ) had a heated debate with the U.S. Securities and Exchange Commission (SEC), and the court ruled that the SEC failed to support its securities claims against tokens like Solana, determining that tokens listed on the exchange, such as SOL, are not securities.
Today's Meme coin prices
Today, meme coins showed signs of recovery. Dogecoin (DOGE) rose over 3%, trading at $0.333, while Shiba Inu (SHIB) increased by 4%, trading at $0.0000234.
Other popular meme coins, such as Pepe Coin, Bonk, Floki, and WIF, also increased by 2%-4% in the past 24 hours.
Today's biggest gainers in cryptocurrency prices
Fartcoin leads today's cryptocurrency market
Fartcoin (FART) performed impressively in the past 24 hours, with a price increase of over 70%, currently trading at $1.20. Fartcoin rebounded from a 24-hour low of $0.738, reaching a high of $1.29. Its market cap also surged by 65%, reaching $1.19 billion, with trading volume increasing by 30%.
Pudgy Penguins
Pudgy Penguins (PENGU) rose nearly 20% in the past 24 hours, currently trading at $0.036. Trading volume surged by 183%, reaching a high of $0.03929 within 24 hours. PENGU's increase is mainly attributed to strong buying after its listing on Bithumb, a leading crypto exchange in South Korea.
Move
MOVE's price also performed well, rising 18% in the past 24 hours, currently trading at $1.01, with a low of $0.8169 and a high of $1.14 within 24 hours. MOVE's trading volume increased by 101% over the past 24 hours, showing a significant rise in trader interest.
Today’s biggest drop in cryptocurrency prices
Virtual Protocol
Virtual (VIRTUAL) price dropped by 4% in the past 24 hours, currently trading at $3. The low and high were $2.91 and $3.22, respectively. The market cap fell to $3 billion, and trading volume also declined by 20%, down to $304 million.
XDC Network
XDC (XDC) price dropped by 3% in the past 24 hours, currently priced at $0.08206, with a 24-hour low of $0.0813 and a high of $0.08531.
The cryptocurrency market has continued its upward momentum over the past few hours, with Bitcoin (BTC), Ethereum (ETH), and other major altcoins showing further positive signs of growth. Traders generally expect a rebound after Christmas, coinciding with the expiration of year-end cryptocurrency options.