The cryptocurrency market showed mixed yet promising movement today, November 29, 2024, with Bitcoin (BTC) maintaining its position at $96K, signaling continued market confidence.
Meanwhile, altcoins saw varied performances, with some recording significant gains and others showing slight declines.
Notably, XRP surged 9% following a favorable legal development, and Algorand (ALGO) emerged as the top gainer of the day, jumping an impressive 20%.
Despite a decline in trading volume, the overall crypto market capitalization has increased by 1%, now standing at $3.32 trillion, reflecting a steady upward trend for major cryptocurrencies.
Bitcoin (BTC) maintains momentum at $96K
Bitcoin (BTC) continues to show strength, trading at $96,000, marking a 1% increase over the past 24 hours.
Over the past week, Bitcoin has hovered between $90K and $99K, establishing solid support at the $95K mark.
BTC’s market cap now stands at an impressive $1.91 trillion, with a dominant market share of 57.08%.
Bitcoin’s dominance in the global market is further solidified by a 24-hour trading volume of $50 billion.
Additionally, Bitcoin adoption continues to expand globally, with Switzerland’s Canton Bern passing a bill to explore Bitcoin mining’s environmental impact, which is seen as a move to further support the crypto-friendly region.
Ethereum (ETH) and Solana (SOL) show modest gains
Ethereum (ETH) has seen a slight 1% dip, trading at $3,583.
Despite the decline, Ethereum retains its position as the second-largest cryptocurrency by market capitalization, with a market cap of $431 billion.
Ethereum’s trading volume stands at $31 billion, and its dominance is at 12.9%.
Analysts predict that Ethereum’s price may surge to $4,000, particularly if Bitcoin’s price continues to consolidate or rise further.
Solana (SOL), on the other hand, has gained 1%, now trading at $241.
With a market cap of $115 billion, Solana ranks as the fourth-largest cryptocurrency, making notable progress in expanding its user base and strengthening its position in the competitive crypto landscape.
XRP Surges 9% amid legal victory
XRP stands out today, experiencing a 9% surge, trading at $1.65.
The rise is attributed to positive legal news surrounding the ongoing Ripple lawsuit.
The US court’s decision to expedite the case process has raised hopes for a favorable outcome for XRP holders.
XRP’s market cap is now at $89 billion, with a trading volume of $6 billion.
As the 6th largest cryptocurrency globally, XRP continues to draw attention, with many analysts speculating it could experience a rally if the court’s decision remains in its favor.
Algorand (ALGO) leads gains, surging 20%
Algorand (ALGO) has emerged as the top performer in today’s market, gaining 20% in the last 24 hours.
ALGO is now trading at $0.35, after reaching a high of $0.35 from a low of $0.28.
The substantial increase has propelled Algorand to the forefront, and analysts are keeping a close eye on the asset for continued growth.
Source: CoinMarketCap
Meme coins show resilience
Meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB), have also shown slight gains.
DOGE is trading at $0.40, up by 1%, while SHIB is up 2%, trading at $0.00002589.
The resurgence of meme coins alongside Bitcoin’s price movement has sparked renewed interest, with investors closely watching their performances.
The overall market remains positive, with many altcoins showing bullish signs.
Worldcoin (WLD) has increased by 15%, trading at $2.80, indicating potential for continued upward momentum. On
the downside, Ethena (ENA) and Fantom (FTM) have experienced declines of 5%, trading at $0.71 and $0.102, respectively.
Despite the 24% drop in overall trading volume to $153 billion, the market capitalization’s 1% growth signals optimism.
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