The cryptocurrency market seems to have lost its Christmas spirit. Major tokens – including Bitcoin, Ethereum and XRP – closed lower than their previous close on Friday. The price decline is accompanied by increasing market volatility.
However, this could change as optimism grows that the US Securities and Exchange Commission (SEC) will give its blessing to a spot Bitcoin exchange-traded fund (ETF) before January 10, 2024. The crypto market slump can be partly attributed to the inactivity of whales and investors who may have taken a week off over the holidays.
All major cryptocurrencies swam in the red on Saturday, with the OG token bitcoin price falling 1.6% to $42,030 per bitcoin. Interestingly, 24-hour trading volume increased by 0.7% to $23.7 billion. Notably, Bitcoin has gained 10% in the last 30 days and is up 153% year-to-date.
Meanwhile, Ethereum price fell by more than 2% to the $2,300 level. Its trading volume fell by more than 25% to $10.94 billion in the last 24 hours.
Other major tokens also recorded losses in the last 24 hours. While Tether price (USDT) fell by 0.04% to $1, BNB price was at $317.22 at the time of writing, down 1.31% in the last 24 hours corresponds. Solana (SOL), XRP and Cardano (ADA) fell 0.84%, 1.46% and 1.29%, respectively.
The decline in the prices of major tokens was reflected in the total capitalization of the crypto market, which fell by 1.37% to $1.65 trillion in the last 24 hours, with the 24-hour trading volume falling by more than 17 % fell to $64.36 billion.
Here are the top cryptos for today
Pepe Coin crashes 14.5%
At press time, Pepe Coin (PEPE) was priced at $0.0000000003078, with the token having lost nearly 14.5% in value in the last 24 hours. However, the 24-hour trading volume increased by 0.67% to $2,186. Over the last seven days, the cryptocurrency recorded minor losses of almost 0.27%.
Pepe Coin price chart, image credit: CoinMarketCap
Litecoin (LTC) falls 5%
Litecoin (LTC) last changed hands at $73.22, down 5.2% in the last 24 hours. Its trading volume fell almost 24% to $460 million in the last 24 hours. Despite the recent market volatility, the altcoin has gained more than 4% in the last 30 days.
Litecoin price chart, image credit: CoinMarketCap
ORDI is up almost 7%
Despite the recent market decline, ORDI price increased by almost 6% in the last 24 hours, with the token trading at 78.12% at press time. The 24-hour trading volume increased by a whopping 79% to $955.83 million. In the last seven days alone, the ORDI token has gained 58%, which may be due to the recent Bitcoin bull run.
ORDI price chart, image credit: CoinMarketCap
Also Read: Will Bitcoin Drive ETF Trading to Over $38 Trillion in 2024?
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