Bitcoin‘s robust performance continues to influence altcoins, potentially fueled by rumors of an upcoming Bitcoin Spot ETF approval. Market experts suggest that the SEC might greenlight a BTC ETF by early January 2024, boosting market sentiment.
Over the past 24 hours, Bitcoin’s price increased by 0.88%, reaching $44,163.79, despite a 23.91% drop in trading volume to $22.40 billion. The highest and lowest Bitcoin values recorded during this period were $44,240.67 and $43,387.92, respectively.
Ethereum, the leading altcoin, saw a 2.36% price increase to $2,253.97, while its trading volume decreased by 1.89% to $12.73 billion. Solana (SOL) experienced a significant 17.04% jump to $99, overtaking BNB to claim the fourth spot in the cryptocurrency rankings.
BNB’s price rose by 5.64% to $272.65, aligning with recent predictions of a potential move above $300, and its trading volume increased by 16.4% to $1.16 billion. XRP and Cardano (ADA) also gained, with prices climbing to $0.6207 (up 0.84%) and $0.624 (up 4.93%), respectively.
In the memecoin arena, Dogecoin’s price increased by 3% to $0.09384, while Shiba Inu saw a 2.84% rise to $0.00001052. Algorand stood out among the top gainers in the crypto market, with a 24.58% surge to $0.2461 and an astonishing 268.5% increase in trading volume to $283.17 million.
Another noteworthy altcoin, NEAR, experienced a 23.85% price increase to $3.51, with its trading volume jumping by 58.62% to $1.05 billion on December 22nd.