Cryptocurrencies have been on the rise throughout December, and the trend shows no signs of slowing down. Bitcoin and Ethereum have hit their highest levels in over a year, a sign of renewed investor interest in riskier assets.
The recent surge in crypto prices can be attributed to the speculation surrounding a Bitcoin Spot ETF, as well as the comments from central bank officials, who are expected to cut rates as early as March next year.
At the time of writing, Bitcoin’s price had fallen 1.18%, trading at $43,507.34, with a 24-hour trading volume of $28.34 billion. Ethereum, the second-largest cryptocurrency by market cap, had increased by 4.81% to $2,374.98, with a 24-hour trading volume of $15.75 billion. XRP had also seen a 0.80% increase to $0.6493, while its 24-hour trading volume had dropped 11.24% to $1.8 billion.
The meme coins were a mixed bag on December 8. Dogecoin’s price had declined 1.17% to $0.09668, with 24-hour trading volume falling 55% to $1.14 billion. Shiba Inu had seen a more modest 0.84% increase to $0.000009902, with its 24-hour trading volume dropping by 60.58% to $274.04 million.
The overall crypto market capitalization had risen by 0.73% to $1.61 trillion in the last 24 hours, while total crypto market volume had increased by 4.55% to $74.26 billion. However, with the crypto market fear and greed index currently at 81, investors should exercise caution.
The top 4 cryptocurrencies for today are:
1. Pepe Coin, which had advanced by 1.40%, trading at $0.000001528, with a 24-hour trading volume of $206.35 million.
2. Bonk (BONK), which had gained 38.68%, trading at $0.0000113, and its 24-hour trading volume had skyrocketed 115.88% to $201.77 million.
3. Optimism (OP), which had increased by 22.90% in the last 24 hours to $2.16, with a 24-hour trading volume of $620.52 million.
4. Gnosis (GNO), which had gone up 15.34% to $231.83, with a 24-hour trading volume of $50.68 million.
