The crypto market on December 22 saw cryptos running in the green zone. Bitcoin (BTC), Ethereum (ETH) were up trading with gains, while Binance (BNB) was trading with losses. Bitcoin’s dominance is currently 39.87%, a decrease of 0.12% over the day
The crypto market cap fell about 0.37 per cent to $814.14 billion and its trading volume was up by 16.59 per cent to $29.60 billion, according to data from Coinmarketcap.com at 9 AM.
"The main reason behind the crypto market's weakness is the commentary coming in from both the Fed and the ECB, with suggestions that inflation has become more "entrenched" in the economy and would require sustained periods of higher interest rates to be dispelled. Further risks remain, with Ukraine’s worsening war situation being the biggest threat to commodity and energy supply chains. There has also been a surge in COVID cases in China, adding more uncertainties," said Parth Chaturvedi, crypto ecosystem lead, CoinSwitch, a crypto exchange.
Bitcoin: BTC was up by 0.12 per cent to $16,861.78. BTC was trading in the red zone over the last 24 hours in a narrow range between $16,592.41 and $16,880.45. BTC experienced a sudden upward price momentum, which lifted it from the lows of $16,592.41 to the highs of $16,880.45 for a short period around 8 AM on December 23 morning. BTC’s trading volume was up by 17.50 per cent at $16,830,062,461.
Binance: Binance (BNB) was trading in the red in the last 24 hours. However, at 9 AM, it jumped to the green zone. It was trading in the range between $240.48 and $248.48.
Ethereum: Ethereum’s (ETH) price gained by 0.88 per cent to $1,226.42 in the last 24 hours to Thursday morning.
Ethereum was mostly seen in the green zone in the last 24 hours. At midnight, it was trading in red. Around 2 AM, it again started trading in green. Its trading volume levels were up by 37.58 per cent. The lowest price for ETH was $1,187.13. ETH’s trading volume was $5,479,277,549.
Other Altcoins: Solana’s (SOL) price was down by 0.47 per cent at $12.08 today.
Ripple (XRP) was up by 1.34 per cent at $0.3496 and its 24-hour trading volume was $670,185,796.
Cardano (ADA) was up by 2.89 per cent to $0.2609. Cardano’s 24-hour trading volume was up by 3.37 per cent to $201,487,550.
Dogecoin (DOGE) was up by 5.69 per cent at $0.07797. Its 24-hour trading volume was up by 102.19% per cent at $641,363,513.
Shiba Inu (SHIB) was up by 1.15 per cent to $0.0000084.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) was down by 0.41 per cent to $5,614.62. Its 24-hour trading volume was up by 14.14 per cent at $13,172,102.
Avalanche (AVAX) was up by 1.26 per cent at $11.87 and its 24-hour trading volume was up by 5.87 per cent at $100,858,390.
Aave (AAVE) was trading between losses and gains with majorly turning towrads the lows of $53.78. By 8:40 AM , it started gaining momentum. Its 24-hour trading volume was up by 4 per cent at $35,629,851.