As of December 20, 2024, the global cryptocurrency market capitalization stands at $3.52 trillion, reflecting a decline of 3.60% over the past 24 hours, according to CoinMarketCap. Bitcoin (BTC) has fluctuated between $95,007 and $102,800 in the last day, with its current price sitting at $95,159, marking a 6.36% drop. Most major cryptocurrencies are following a downward trend, although select altcoins have managed to outperform the market. Notable gainers include STRAX, ZEN, and CTXC, which have seen increases of 30%, 14%, and 6%, respectively.

Among the top news stories today, Bitcoin dominance continues to decline as some altcoins gain more traction. El Salvador has made a strategic move by increasing its Bitcoin reserves with an additional $1 million purchase. Meanwhile, Bitcoin and Ethereum ETFs are anticipated to drive crypto fund launches in the U.S. in 2025, and Grayscale has opened the Sui Trust to accredited investors. Additionally, market participants are keeping a close eye on developments with Solana (SOL) and Ethereum (ETH) as both face price fluctuations and network changes.

The market has been challenging for many top cryptocurrencies, with Ethereum (ETH) seeing a 10.49% drop to $3,289.45, and Dogecoin (DOGE) falling by 18.06%. Solana (SOL) also faced a significant downturn of 12.39%. However, the market’s recent underperformance has highlighted some interesting shifts in altcoin trends, providing traders with opportunities to explore. Notably, STRAX, ZEN, and CTXC have stood out as top gainers on Binance, offering a refreshing contrast to the broader market decline.

In summary, despite the overall bearish sentiment across most major coins, the market is seeing bursts of opportunity in select tokens, making it essential for traders to stay vigilant and strategic in their approach. With Bitcoin and Ethereum ETFs on the horizon and potential changes in regulatory landscapes, there’s much to anticipate for the year ahead.

#CryptoMarketUpdate #AltcoinGains #BitcoinPrice

150 Billion PEPE Moves Shake Binance Amidst Whale Activity
A significant whale transaction involving 150 billion PEPE tokens, valued at $2.72 million, has caught the crypto market’s attention as the tokens were deposited into Binance. This move hints at a potential stop-loss strategy, where the trader aims to minimize losses by selling the asset if its price drops to a predetermined level.
Interestingly, this same whale had previously withdrawn the exact amount of PEPE tokens from Binance on November 28, when their value was $2.94 million. At that time, the withdrawal suggested a holding strategy, as the whale appeared confident in PEPE’s performance.
However, with PEPE now trading at $0.00001927, reflecting a 9.55% drop in the last 24 hours, the token’s declining value may have prompted a change in strategy. The whale’s move back to Binance strongly implies a decision to sell, as they’ve already endured a $219,000 loss at the current market price.
Market analysts argue that this defensive strategy is understandable, especially amid PEPE’s downward trajectory. The whale’s stop-loss action could mitigate further financial damage if the token’s value continues to plummet.
As this major transaction unfolds, it underscores the heightened caution within the market, especially among large holders navigating the current volatility of meme coins like PEPE.
#BinanceAlphaAlert #CryptoMarketUpdate #PEPEWhaleActivity #BinanceNews

$XRP
Ripple's XRP witnessed a strong surge following the launch of its new stablecoin, RLUSD, gaining over 10% in value. This rally allowed XRP investors to pocket approximately $1.48 billion in profits within a 24-hour span, marking one of the token's largest single-day gains in 2024. Despite the bullish momentum, XRP is facing significant resistance at the $2.60 level, with traders now eyeing a potential breakout toward the ambitious target of $4.75.

Ripple’s RLUSD stablecoin has been swiftly adopted across global platforms, including Uphold, MoonPay, Keyrock, Archax, Bitso, and CoinMENA, further bolstering confidence in the network. However, profit-taking among early buyers has added pressure, slowing XRP’s upward momentum. On-chain data from Santiment reveals that whale wallets accumulated over 800 million XRP—equivalent to $2 billion—in just two days, signaling strong buying interest from large investors. Despite this accumulation, XRP's Weighted Sentiment remains subdued, reflecting caution among retail market participants.

Data from Coinglass highlights heightened liquidation activity in the past 24 hours, totaling approximately $26 million, with short liquidations slightly outpacing longs at $13.22 million versus $12.74 million. After meeting resistance at $2.58, XRP has formed a flag pattern—a key indicator of potential continuation. If the token can decisively break through resistance levels at $2.58 and $2.92, supported by strong trading volume, it could pave the way for a surge toward its all-time high of $4.75.

The current consolidation phase may suggest a temporary pause as whales absorb selling pressure from profit-takers. Should XRP maintain this bullish trajectory, renewed investor confidence and broader market support could fuel the next leg upward, bringing the $4.75 target into focus.

#RippleMomentum #XRPPriceAction #CryptoMarketUpdate #XRPtoATH