Crypto Price Today: Bitcoin trades near $42,700; Slona, Avalanche rise up to 7%
XRP (0.7%), Solana (7.3%), Avalanche (3.4%), and Tron (1.1%) were trading in the green.
At the time of writing, the global cryptocurrency market cap declined by 0.27% to around $1.61 trillion in the last 24 hours.
At 12.31 p.m., BTC was trading 0.81% lower at $42,696. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $833 billion.
The crypto market performed sideways with an upward bias in the last 24 hours. BTC is back to trading around $43k levels, while ETH is trading around $2.3k. This market movement can be attributed to the Feds as they signaled interest rate cuts for next year, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.
Did you Know?
As a beginner to cryptocurrency investing, you should consider two critical things. First, you should determine and understand your risk tolerance, as cryptocurrencies can be volatile. Only invest what you can afford to lose. Secondly, don’t put all your funds in one cryptocurrency; diversify to mitigate risks. Deciding where to invest your hard-earned money can be difficult.
View Details»Meanwhile, Edul Patel, CEO of Mudrex, said, «Optimism has been fueled by the SEC Chair's comments on spot BTC ETFs, leading market participants to anticipate approval in early January.»
Popular altcoin BONK rallied over 120% in today's trade. Helium WOO Network, Aave, and Osmosis also surged 10-25%.
«In the altcoin universe, a recent crypto BONK has made the news since yesterday. Being pegged as a rival to dog-themed memecoins, BONK has already surpassed SHIB in terms of daily trading volumes. The Solana-based memecoin had spiked after Coinbase announced BONK’s addition to its altcoin listing roadmap,» Parth said.
The volume of all
