As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I must admit that this weekend’s market movements have been nothing short of exhilarating. Watching Bitcoin break its all-time high yet again, only to drop slightly, is a rollercoaster ride I wouldn’t trade for anything!
Over the course of the weekend, Bitcoin experienced a surge that propelled its value to an unprecedented peak of $106,500; however, it has since fallen approximately $2,000.
On a day-to-day basis, the majority of altcoins are experiencing modest growth, with notable exceptions being LINK, SUI, and AAVE, which have shown substantial increases.
BTC’s Latest Peak
Following a pair of decreases in value earlier in the last workweek, which drove Bitcoin down to approximately $94,400, the digital currency counterattacked and reached around $100,000 by Thursday.
After experiencing some doubt at that price point, the asset surpassed it on Friday and hasn’t seemed to glance back since. Over the weekend, it hovered around $102,000, but after several failed attempts to break out, it successfully moved above it during the early hours of Asian trading.
It’s possible that favorable remarks from Donald Trump and the increasing number of whale wallets may have contributed to Bitcoin reaching a new peak of $106,500 on Bitstamp. However, since then it has experienced a slowdown and is currently about $2,000 lower in value.
On CoinGecko, its market cap stands at approximately $2.070 trillion, and it holds nearly 54% of the total market share in comparison to other alternative cryptocurrencies.
SUI Sees New High
In simpler terms, the majority of higher value alternative cryptocurrencies have seen minimal growth or no change in value over the last day. Ethereum is showing a slight increase, trading over $3,900, whereas coins like XRP, Solana, Binance Coin, Dogecoin, Cardano, Tron, and Avalanche have dropped by roughly 1-2% each.
Instead, LINK and AAVE have risen to the top, growing by 4% and 5% respectively. SUI has leaped more than 6%, currently valued above $4.7. Furthermore, it reached a new peak just hours ago at over $4.9 as reported by CoinGecko data.
Over the past day, the total value of all cryptocurrencies combined has risen by approximately $80 billion, reaching a new figure of $3.850 trillion according to CoinMarketCap.
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2024-12-16 13:42