The strong stance of Bitcoin in the crypto currency markets continues to affect altcoins. This seems to stem from increased rumors about the approval of a Bitcoin Spot ETF. According to statements by many experts and institutions in the market, it is possible that the SEC could greenlight a BTC ETF at the beginning of January 2024, which is increasingly strengthening market sentiment.
Are Bitcoin and Altcoins on the Rise?
When it comes to cryptocurrencies, the price of Bitcoin, which first comes to mind, increased by 0.88% in the last 24 hours and traded at the level of $44,163.79. During this period, there was a decrease of 23.91% in trading volume, falling to $22.40 billion. In addition, the highest value for the BTC price in the last 24 hours was $44,240.67, while the lowest value reached $43,387.92.
The price of Ethereum, which is considered the king of altcoins, increased by 2.36% at the time of writing to a level of $2,253.97, and the trading volume decreased by 1.89% compared to yesterday, falling to $12.73 billion.
The price of Solana (SOL), which is thought to be the cause of the developments in ETH, increased by 17.04% at the time of writing to $99, which shows the incredible interest of investors. In particular, Solana (SOL) surpassed BNB in the ranking of the best cryptocurrencies, rising to 4th place.
BNB, which fell to 5th place during this period, increased by 5.64% to $272.65, and drew a price chart that confirms the comments made by Ali Martinez in recent days about potentially moving above $300. During this period, the trading volume increased by 16.4% to $1.16 billion.
Another important altcoin, XRP, increased by 0.84% to $0.6207. The price of Cardano (ADA), which investors have shown close interest in recently, found buyers at the level of $0.624 with a gain of 4.93%.
Looking at memecoins, the price of Dogecoin increased by 3% to $0.09384, while its closest competitor, Shiba Inu, also experienced an increase of 2.84% and traded at $0.00001052.
Today’s Noteworthy Cryptocurrencies
Algorand found itself at the top of the list among the most appreciated in the crypto market and was one of the best reflectors of the rising trend emerging in the wider crypto sector.
At the time of writing, Algorand’s price had increased by 24.58% and was trading at $0.2461. An incredible increase in trading volume occurred in the last 24 hours, with an increase of 268.5% to $283.17 million. Even more remarkable was the approximately 90% increase in ALGO’s price over the last 30 days.
Another altcoin that caught attention was NEAR. NEAR was trading at $3.51 with a 23.85% price increase, while its trading volume also saw an increase of 58.62%. On December 22, its volume rose to $1.05 billion.
