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News recap: top altcoins that are currently stealing BTC’s limelight
In early December, market participants paid special attention to altcoins. Investors are willing to allocate capital in high-risk assets regardless of external factors. Read the News recap to learn about the most important events in the crypto world between 30th November and 14th December.
Crypto market in numbers
The cryptocurrency market capitalisation has increased again, rising by 14% to $1.62 trillion since 30th November. Such values were last observed in May 2022. BTC and many other coins reached new yearly highs once again. A noticeable capital redistribution into altcoins occurred since 7th December.
Trading activity has significantly increased. Since 30th November, the average daily volumes ranged between $65 – $98 billion, on average 35% higher than the previous range. Judging by the current pace of traders’ activity, trading volumes in December may surpass the $1 trillion mark.
The Cryptocurrency Fear and Greed Index stabilised in the “Greed” zone. Between 30th November and 14th December, the index dropped by 2 points, from 74 to 72. Such a stable trend in the index has not been observed since March 2020.
Cryptocurrency volatility showed mixed results. The 30-day volatility index for BTC increased by 42.85%, from 1.19% to 1.70%, since 30th November. A similar metric for ETH decreased by 6.13%, from 1.96% to 1.84%.
The beginning of December turned out to be quite positive for the cryptocurrency market. Notably, during the first week of the month, bitcoin was stronger, but in the second week, market participants started paying attention to altcoins. As a result, altcoins began to noticeably catch up with the leading cryptocurrency. ADA, NEAR, DOT and SOL stood out in particular.
There is also a noticeable positive sentiment both in cryptocurrencies and in the macroeconomy overall. Investors are willing to allocate capital to high-risk assets. Concerns about inflation risks and further tightening of global central bank monetary policies are taking a back seat.
Gainers (29th November – 12th December)
| Coin | Opening price 29.11, $ | Opening price 12.12, $ | Change |
| PRQ | 0.08 | 0.16 | 98.4% |
| ALGO | 0.14 | 0.22 | 55.6% |
| ADA | 0.40 | 0.58 | 46.0% |
| DOT | 5.46 | 7.44 | 36.2% |
| NEAR | 1.92 | 2.43 | 26.3% |
Losers (29th November – 12th December)
| Coin | Opening price 29.11, $ | Opening price 12.12, $ | Change |
| TON | 2.51 | 2.27 | -9.7% |
| GAS | 8.34 | 7.66 | -8.1% |
| MKR | 1,543.36 | 1,461.91 | -5.3% |
| UNI | 6.46 | 6.45 | -0.2% |
Easily track gainers and losers within the Simple trade section on EXMO.com. Check real-time updates in the last 24 hours, week and month.
Most traded coins (29th November – 12th December)
| Coin | Trading volumes, $ |
| USDT | 30,347,494 |
| BTC | 17,661,116 |
| ETH | 8,751,031 |
| XRP | 4,189,547 |
| SOL | 1,986,686 |
| YFI | 1,398,915 |
| LTC | 993,494 |
| ADA | 967,315 |
| GMT | 925,006 |
| BCH | 903,147 |
Top crypto market driving factors
Overall сrypto market
▲ 30.11.2023 – In November 2023, the venture capital invested in cryptocurrency and blockchain projects set a new record since May, reaching $1.09 billion.
▲ 05.12.2023 – The market capitalisation of USDT exceeded $90 billion for the first time.
▲ 06.12.2023 – Société Générale, the third-largest bank in France, is set to launch its own stablecoin.
▲ 08.12.2023 – The government of El Salvador and Tether announced the launch of the “El Salvador Freedom Visa” program.
▲ 08.12.2023 – CoinGecko specialists conducted research on the legal status of cryptocurrencies, revealing their legalisation in 119 out of 193 countries.
▼ 08.12.2023 – Traders fear that the cryptocurrency market may fall into a “bull trap.”
▲ 08.12.2023 – The market share of altcoins in trading volume rose to 67%, the highest level since March 2022.
▲ 08.12.2023 – Trading volumes on centralised cryptocurrency exchanges approach the annual maximum, currently just under $40 billion.
▼ 11.12.2023 – The decline in the crypto market triggered a wave of liquidations, with positions forcibly closed amounting to $400 million in a day.
▼ 12.12.2023 – The cryptocurrency market is experiencing a significant increase in bearish sentiments.
▼ 13.12.2023 – According to Kaiko, market liquidity has deteriorated compared to the beginning of the year.
Bitcoin (BTC)
▲ 30.11.2023 – MicroStrategy acquired an additional 16,130 BTC for approximately $593.3 million at an average price of $36,785.
▲ 01.12.2023 – In November 2023, Bitcoin network users conducted 16.42 million transactions.
▲ 01.12.2023 – According to Glassnode, over 37,000 BTC were withdrawn from exchanges in a week.
▲ 01.12.2023 – The SEC announced that it held a meeting with VanEck regarding a spot BTC-ETF.
▲ 04.12.2023 – Bitcoin’s hash rate reached a historical high, surpassing 500 EH/s for the first time.
▼ 04.12.2023 – BBG notes that bitcoin has entered the “overbought” zone.
▼ 04.12.2023 – Short-term holders realised $1.5 billion in profit, with $4.5 billion over the last four days.
▼ 05.12.2023 – Santiment notes a possible temporary “overbought” condition in BTC, as the RSI returns to the red zone.
▲ 06.12.2023 – For the first time, over 30% of all circulating bitcoins have not moved in over 5 years.
▼ 08.12.2023 – Bitcoin miners sold over 3,000 BTC ($132 million) in the last 24 hours.
▼ 11.12.2023 – Miners sold approximately 1,000 additional BTC, totaling $44 million.
▼ 11.12.2023 – Between 6th-11th December, short-term holders sold bitcoins for $2 billion, with $1.1 billion in losses.
▼ 12.12.2023 – According to Santiment, bitcoin inflows to exchanges increased by 5.5% since 3d December.
▲ 12.12.2023 – Regulators approved El Salvador’s “BTC bonds” (Volcano Bonds), with the first issuance expected in Q1 2024.
Ethereum (ETH)
▲ 01.12.2023 – According to Santiment, balances in the top 10 non-exchange wallets in ETH continue to grow, accumulating 41 million ether.
▼ 06.12.2023 – The Securities and Exchange Commission postponed a decision on the transformation of Grayscale’s Ethereum Trust into a full-fledged spot ETF.
▲ 06.12.2023 – Analysts note an increase in the amount of ETH held by large investors, accounting for 35% of the total circulating supply.
▲ 08.12.2023 – The 150 largest Ethereum network wallets that are not exchanges hold a historic high of 54.6 million ETH.
Solana (SOL)
▼ 11.12.2023 – SOL shows signs of euphoria. This is a bearish signal.
Cardano (ADA)
▼ 07.12.2023 – 31,200 ADA wallets were liquidated in the last month.
▼ 11.12.2023 – ADA shows signs of euphoria. Historically, this is a bearish signal.
Litecoin (LTC)
▲ 05.12.2023 – Litecoin is now accepted for the payment of Microsoft accounts.
▼ 07.12.2023 – 2.13% (199,000) of all Litecoin wallets were liquidated in the last 10 days.
▲ 12.12.2023 – The number of active addresses in the Litecoin network exceeded 1.4 million.
▲ 13.12.2023 – Litecoin surpassed Bitcoin in terms of the number of daily new addresses on the network: 808,624 versus 429,000, respectively.
TRON (TRX)
▲ 07.12.2023 – The TRON blockchain reached 200 million registered accounts.
Algorand (ALGO)
▲ 30.11.2023 – Algorand announced a partnership with URECA.
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