Crypto investors are shopping for their favorite tokens ahead of Christmas. Bitcoin (BTC), which has crossed the $50,000 mark, was up more that 12 percent while Shiba Inu(SHIB). According to coinmarketcap data, the total crypto market cap now stands at $2.39 trillion. This is an increase of 4.54 percent in 24 hours.
Brad Garlinghouse, Ripple’s CEO, has rebuked US Securities and Exchange Commission for not answering questions about the US Securities and Exchange Commission’s (SEC), year-old lawsuit regarding Ripple using XRP (Ripple’s native token) instead of a security. In a tweet, he said, “One year ago today, @SECgov filed a suit against @Ripple and @chrislarsenSF and me alleging that XRP – a public cryptocurrency that has been trading in the open market since 2013 – should have been registered to security.”
BTC prices traded higher despite uncertainty. It was currently available at 8.30 AM for $51,095.12, which is 5.87 percent gain in 24 hours. The green zone also traded Ethereum, which is expected change its consensus mechanism from energy-intensive proof of work to proof-of stake sometime in 2022. It is now up by 4% at $4,098.83
Crypto investors celebrated the rally in prices that occurred ahead of Christmas, as Bitcoin surpassed the $50,000 mark and Ethereum crossed over the $4,100 threshold. “The struggle has been real, and traders have been longing for this Santa rally,” saus Gaurav Dahake (CEO and cofounder of Bitbns), an Indian crypto exchange.
Cardano (ADA), is trading at a huge gain of 9.70% at $1.47. Algorand (also known as the Ethereum killer) was up 6.42 percent at $1.46. Its market cap now stands $9,296,026,975.
Binance Coin (BNB), up 2.88 percent at $546.13, and Solana (SOL), trading at $188.40, a gain of 5.07%.
“As the year draws to a close, it is clear that altcoins outperformed market leaders,” says Dahake. Dahake says that Metaverse coins like MANA and SAND appear to be on the right track at the moment.
Baby Cat Girl (BBYCAT) was today’s top gainer, up 431.60 percent at $0.002946. Dopple Finance (DOPX) is the top loser, down 99.63% at $0.000003581
Meme Coins
Dogecoin (DOGE), was trading at $0.1831, with gains of 5.76 percent. However, its trading volume soared by 36.53 percent to $1,310,506,121.
Rival Shiba Inu gained more north today, trading at $0.00003945 as of 8.49 AM. This is a gain 12.86 percent.
ELON trades with a huge gain of 33.87 percent at $0.00003945. Floki Inu has increased by 5.10 percent to $0.0001243. Samoyed Coin (SAMO), which is currently trading at $0.04316 indicates a 4.22 percent gain in the past 24 hours.
Recent Update
GameStop and Flexa, a digital payment processor, have partnered to accept Shiba Inu or Dogecoin as payment options for purchases. Flexa Hq tweeted ‘Enter. the. metaverse. @GameStop is now available on Flexa’
Radioshack, a legacy electronics retailer chain that dates back 100 years, expressed its desire for crypto to be accessible to the older generation who have great difficulty understanding the market. According to The Verge, they stated that RadioShack was uniquely placed to bridge the gap between mainstream cryptocurrency usage and mainstream use.
Binance posted a blog post announcing its intention to replace the current quarterly burn protocol by the auto-burn protocol. To provide more transparency and predictability for the BNB Community, the quarterly burn will now be replaced by BNB Auto-Burn. Binance stated in the blog that BNB Auto-Burn would be stopped if the total circulation of BNB falls below 100 million.