As the New Year season enters Europe, the crypto world is witnessing developments in the market that appear in the form of sudden changes and distinctive events around this time.
sudden price hike
In December and before the New Year, cryptocurrencies such as Bitcoin and Ethereum sometimes see significant price increases. The reason could be that investors are increasing their investments to start the new year with profits, or that there is a large movement of investment portfolios in preparation for the closing of the fiscal year.
Crypto Donations
Platforms like Binance Charity and The Giving Block are launching campaigns to collect donations in cryptocurrencies, such as USDT (Tether) or XRP (Ripple) to support charitable projects around the world, whether it is to help refugees, or provide food and education.
Launching new projects
The New Year period is an ideal time for digital projects to launch new services or products. For example, we might see the launch of a New Year’s-themed NFT or Web3 projects such as new decentralized applications that offer innovative services. Coins like Solana (SOL) or Cardano (ADA) are often the center of attention with their project launches.
AirDrops and New Year's Gifts
One of the most popular things that happen around New Year’s is AirDrops. Many projects like Polygon (MATIC) or Dogecoin (DOGE) give away free coins to their users as a reward or to attract new people to the platform.
Investors optimistic about the new year
Investors are excited that the new year will bring better opportunities, which increases demand for coins like BNB (Binance Coin) and Litecoin (LTC), and helps in the overall market movement.