📊🎄🚀 Santa Claus rally happened in the crypto industry as some big altcoins experienced double-digit gains. 📊🎄🚀
Pudgy Penguins ($PENGU ) experienced a 40% increase on December 24, reaching a $2.26 billion market cap, driven by a 40% surge in NFT sales to $1.38 million and whale accumulation.
IOTA ($IOTA ) saw gains for three days in a row on Christmas Eve, following community approval of the Rebased proposal.
The Rebased proposal for IOTA was overwhelmingly supported, with 98% of holders voting for upgrades including staking and enhanced smart contracts, aiming to position IOTA as a competitor to Ethereum and Solana.
Algorand ($ALGO ), Hedera Hashgraph, Virtuals Protocol, and Curve DAO Token also performed well among cryptocurrencies.
*lThese altcoins benefited from Bitcoin's stability and rise above $97,000, alongside the traditional "Santa Claus rally" effect, which also boosted stock indices like the Dow Jones, Nasdaq 100, and S&P 500.
There's caution regarding the sustainability of the current crypto rally, as it might be a "dead cat bounce" or "bull trap," suggesting the need for confirmation if Bitcoin and altcoins exceed their December highs.
📍Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
Thank you for reading.