As of December 29, 2024, the cryptocurrency market continues to exhibit significant activity, with the top 05 cryptocurrencies by 24-hour trading volume leading the charge. Here's an overview of the current market landscape:
Top 05 Cryptocurrencies by 24-Hour Trading Volume:
1. Tether (#USDT ): $109.25 billion
2. Bitcoin ($BTC ): $52.18 billion
3. Ethereum ($ETH ): $24.03 billion
4. USD Coin (#USDC ): $7.01 billion
5. First Digital USD ($FDUSD ): $5.43 billion
Analyst Perspectives:
Analysts observe that the cryptocurrency market is exhibiting a consolidation phase, with major assets like Bitcoin and Ethereum maintaining stable positions. The substantial trading volumes in stablecoins such as Tether USDT and USDC Coin suggest ongoing liquidity and active trading within the market. Additionally, the presence of tokens like Solana SOL and #DOGE in the top 10 by trading volume indicates sustained investor interest in alternative blockchain platforms & meme-based cryptocurrencies.