It’s Christmas season for Cryptocurrencies! The crypto market has seen a surge in value. Let’s learn more about it.
The Crypto market has seen quite some turmoil in this past year. Cryptocurrencies often have the reputation of being volatile. And this goes both ways, as the coin jumps in value, it can sink in value as well.
Well the good news is that people are investing in Cryptocurrencies this Christmas season. We can see this effect in the bullish Crypto market trends.
Gains by various Cryptocurrencies
Today, Bitcoin crossed the $51,000 mark. The first and the largest Cryptocurrency gained 6% to reach this mark. Bitcoin however, is still not at its highest which was in November. The Cryptocurrency has lost $18,000 worth of value since November. Even with the loss in value, the token is still up by 75% compared to last year.
Bitcoin had seen a peak of $69,000 in the early days of November, however, the coin shed its value gradually in the span of 5 weeks. Bitcoin has shed about 30% of its value since then.
Along with Bitcoin, the second largest Cryptocurrency, Ethereum has also gained a bit. The token ETH is up by 4 per cent and is standing at $4,110.
Other big players in the crypto market have also seen a good growth. Dogecoin is up by 7 per cent taking its value to a figure of $0.18. The Dogecoin rival Shiba Inu also gained an impressive 15 per cent and has put a figure of $0.000040 in value.
Other big names in Cryptocurrencies such as Solana, Cardano, Binance coin etc., have seen an increment in value in the past 24 hours. CoinGecko reports that the global market cap of Cryptocurrencies is up by a whopping 5 per cent and is sitting at a figure of $2.52 trillion as of now.
It’s Christmas for Cryptocurrencies as we’re witnessing a holiday boom in its value. Hopefully, you liked this article. If you want to read more such articles, please visit our website by clicking this link.