Crypto Market Today: Bitcoin Soars to $95K While Stellar Leads the Gains
The cryptocurrency market witnessed bullish movement today, with Bitcoin (BTC) reclaiming the $95K mark after dipping to $92K. Stellar (XLM) emerged as the standout performer, recording an impressive 26% increase in the past 24 hours. IOTA followed closely, showing a 20% surge during the same period.
Other notable altcoins, including XRP and Cardano, also registered strong gains, each rising by over 10% in the last 24 hours. The global cryptocurrency market capitalization rose by nearly 2%, reaching $3.34 trillion. However, the total trading volume declined by 16%, settling at $92 billion. Analysts anticipate that trading activity could rise next week as the holiday season winds down.
Bitcoin Leads Crypto Market Recovery
Bitcoin (BTC) spearheaded the market rally, recovering to $95K with increased investor interest. Ethereum (ETH), XRP, and Solana (SOL) also followed this positive trend, reflecting robust market sentiment.
Bitcoin Price Update
Bitcoin (BTC) is currently trading at $95,089, reflecting a 1% increase in the last 24 hours. Its daily trading range spans from $92,965 to $95,506. Meanwhile, a growing movement in Switzerland seeks to encourage the Swiss National Bank to adopt Bitcoin, highlighting the increasing acceptance of cryptocurrencies globally.
Data from CryptoQuant reveals a decrease in Bitcoin’s exchange reserves, now standing at 2,377,205.13 BTC. This 24-hour drop of 0.25%, coupled with a 7-day decline of 2.09%, suggests reduced selling pressure in the market.
Ethereum Price Update
Ethereum (ETH) is trading at $3,394, representing a 1% gain over the past 24 hours. Its daily low and high are $3,316 and $3,405, respectively. Despite the price uptick, trading volume saw a 20% decrease, now standing at $16 billion.
XRP Price Update
XRP, currently priced at $2.414, has seen a notable 15% increase in the last 24 hours. Its daily range extends from $2.09 to $2.44. Pro-crypto advocate John Deaton has drawn market attention with his insights into XRP’s potential price targets.
Solana Price Update
Solana (SOL) is trading at $198, marking a 4% gain in the past 24 hours. Its price fluctuated between $188 and $199 during this period. The asset’s trading volume declined by 12% to $2.84 billion.
Top Crypto Gainers
Stellar (XLM): Leading the market, XLM is trading at $0.43, reflecting a 26% surge in the last 24 hours. Its daily trading range was $0.33 to $0.45, with a 28% rise in market cap to $13.16 billion.
IOTA: IOTA climbed 20%, now trading at $0.347. The asset’s daily range was $0.28 to $0.355, with a market cap of $1.24 billion.
XDC Network: XDC saw a 19% increase, trading at $0.087. Its daily range was $0.071 to $0.0883, reflecting growing market optimism.
Top Crypto Losers
UNUS SED LEO (LEO): Among the top losers, LEO dropped 3.23% in value, trading at $8.75. Its market cap stands at $8.12 billion.
PEPE and Bitget Token (BGB): PEPE and BGB also saw declines of 2% and 1.5%, respectively, over the past 24 hours.
Meme Coins Gain Momentum
The meme cryptocurrency sector displayed bullish momentum, with Dogecoin (DOGE) rising 4% to trade at $0.33. Analyst predictions suggest DOGE could hit $1.2 if it breaks its all-time high by the end of January. Similarly, Shiba Inu (SHIB) gained 4%, now trading at $0.00002191. Other meme coins, including AI16Z and PENGU, also recorded positive movement in the past 24 hours.
Additionally, on the hourly charts, Bitcoin (BTC) and other significant altcoins showed a 1% increase. Virtual Network (VIRTUAL) saw a 3% surge in the last hour, underscoring the growing bullish sentiment across the crypto market today.
