Cryptocurrency prices made significant gains today, indicating that investor confidence in the underlying digital asset is increasing. Meanwhile, some market watchers consider this positive point to be the start of a Santa Claus rally.
The market saw choppy trading this week as investors and whales took a breather. Note that almost all major cryptocurrencies have posted losses so far this week, dashing many investors' hopes for a year-end rally. However, the recent push to the north boosted the confidence of crypto market enthusiasts.
If we talk about cryptocurrency prices, at the time of writing, Bitcoin increased by 2.65% to $43,446.82, while the trading volume decreased by 15.15% to $25.94 billion. With recent gains, the largest cryptocurrency by market capitalization has risen nearly 17% over the past week, after remaining close to zero over the past seven days.
Meanwhile, the price of Ethereum posted a strong gain of 8.26% and was trading at $2,407.63 at the time of writing on December 28. The trade volume also increased by 54.88% and amounted to 16.76 billion dollars. In contrast, the price of BNB increased by 13% to $327.30, while the daily volume decreased by 5% to $1.98 billion.
On the other hand, Solana's price has lost 5.51% to $104.36 in the last 24 hours, indicating a gloomy scenario. The trade volume decreased by 28.69% and amounted to 4.33 billion dollars. Meanwhile, at the time of writing, Cardano's price is up 12% to $0.6643, with trading volume up 24.77% to $1.10 billion.
The meme coin segment also remained positive, with Dogecoin price up 4.28% to $0.09432 and intraday volume up 18.8% to $466.83 million. Additionally, Shiba Inu is up 5.03% to $0.00001093 at the time of writing.
Meanwhile, a surge in the prices of major cryptocurrencies fueled a strong market rally on Thursday. At the time of writing, the global cryptocurrency market capitalization increased by 4.41% to $1.71 trillion, while trading volume decreased by 3.37% to $79.79 billion. Notably, the Fear and Greed Index was 73, indicating a sense of "greed" in the broader digital asset space.
Also read: Ethereum (ETH) price rises 9% above $2,400, 2024 bull run begins.
Pepe Coin has increased in price by 12%
Pepe Coin is one of the main players in the meme coin space and has gained a lot of popularity this year, as evidenced by some of its runs. Meanwhile, at the time of writing on December 28th, Pepe Coin's price is up 11.57% to $0.000001467, with trading volume up 29% to $150.62 million in the last 24 hours. Despite recent losses, it is up more than 16% in the past seven days.
Bitcoin SV (BSV) is up 63%
At the time of writing on Thursday, Bitcoin SV is trading at $86.10, up 63.09%, indicating increased interest from market participants. Recent gains have made the cryptocurrency one of the biggest market share gainers. Meanwhile, cryptocurrency trading volume has increased by 828.68% to $590.21 million at the time of writing.
Aave (AAVE) jumps 25%
Crypto Aave was another big step in digital assets on the back of a massive rally in the cryptocurrency market on December 28. At the time of writing, Aave's price was up 25.44% to $126.18, and trading volume was up 72.74% to $473.28 million. It should be noted that the cryptocurrency has increased in price by about 33% in the last seven days.
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