News recap: bitcoin surpassed Tesla in market capitalisation

Crypto market in numbers

The cryptocurrency market capitalisation has continued its upward trajectory, rising by 4.3% to reach $1.69 trillion since 15th December. During this period, there has been a consistent trend of capital flowing into altcoins. As a result, BTC has maintained a narrow trading range since the beginning of December.

Trading activity has remained consistently high, with daily volumes ranging mostly between $75 and $100 billion. On 22nd December, there was a notable spike in the indicator, surpassing $126 billion, a level last seen in March 2023.

The Fear and Greed Index for cryptocurrencies has consistently stayed in the “Greed” zone, ranging between 65 and 75 points between 15th and 28th December. This suggests that the market is still experiencing localised overheating.

Cryptocurrency volatility has seen a slight increase. The 30-day volatility index for BTC grew by 2.8%, moving from 1.75% to 1.80%. In contrast, the corresponding metric for ETH decreased by 0.5%, falling from 1.91% to 1.90%.

Altcoins continue to chase the leading cryptocurrency, with BTC dominance dropping from 55% in early December to 51% currently. Market participants are increasingly focusing on oversold assets.

The New Year rally has significantly boosted cryptocurrency prices, fueled by expectations for the upcoming year. Anticipated developments in early 2024 include approvals for spot ETFs, BTC halving in April, and the easing of global central banks’ monetary policies.

Gainers (11th – 25th December)

Losers (11th – 25th December)

Easily track gainers and losers within the Simple trade section on EXMO. Check real-time updates in the last 24 hours, week and month.

Most traded coins (11th – 25th December)

Top crypto market driving factors

Overall сrypto market

▲ 18.12.2023 – The volume of private blockchain lending exceeded $580 million, growing by 128% since the beginning of the year.

▲ 18.12.2023 – Tether disclosed two letters to US legislators, declaring its commitment to combating the illegal use of USDT.

▼ 20.12.2023 – Amid an increased amount of BlackRock-SEC meetings at the end of the year, the market is showing growing optimism towards crypto, historically considered as a bearish signal.

▲ 22.12.2023 – The delta of dollar liquidity turned green for the first time since the summer of 2022.

▲ 22.12.2023 – December is likely to be the most active month in 2023, in terms of trading volume on crypto exchanges, with the current figure standing at $744 billion.

▼ 26.12.2023 – In 2023, venture companies invested $10.7 billion in cryptocurrency and blockchain startups, 68% less than the previous year.

▲ 27.12.2023 – The money market currently holds a record amount of funds – over $6 trillion.

▲ 27.12.2023 – Tether issued 8 billion USDT for the Tron and Ethereum networks in the last 3 months.

Bitcoin (BTC)

▼ 15.12.2023 – According to IntoTheBlock, $860 million more bitcoins were deposited on exchanges than withdrawn in the last week.

▼ 15.12.2023 – CryptoSlate analyst, James Van Straten, reported that crypto whales have started selling bitcoins at the yearly high.

▼ 18.12.2023 – The Bitcoin network fee reached $37.

▲ 18.12.2023 – The number of bitcoin addresses with a balance of 1 BTC has reached a record high – 1,022,000.

▲ 18.12.2023 – VanEck’s CEO expects the SEC to approve all spot BTC-ETF applications simultaneously.

▲ 18.12.2023 – K33 Research believes that everything is almost ready for the approval of spot BTC-ETFs in the U.S. in January 2024.

▲ 20.12.2023 – A whale has accumulated bitcoins worth over $1 billion in the last month.

▲ 20.12.2023 – Bitcoin has entered the top 10 list in terms of capitalisation among global assets, surpassing giants like Tesla, Berkshire Hathaway, Visa, and catching up with Meta and silver.

▲ 21.12.2023 – According to Santiment, after 2 weeks of light selling, large wallets with balances of 100+ BTC have started accumulating the coin again.

▲ 22.12.2023 – Glassnode analysts remind that the number of bitcoin addresses with a non-zero balance has exceeded 50 million.

▲ 26.12.2023 – As a result of the latest mining difficulty adjustment, bitcoin’s mining difficulty has increased by 7%. The indicator has reached a new high at 72.01 T.

▲ 27.12.2023 – MicroStrategy has reported the purchase of 14,620 BTC totaling $615.7 million.

▲ 27.12.2023 – Long-term Bitcoin investors who have not moved the cryptocurrency for at least a year continue to accumulate BTC.

Ethereum (ETH)

▲ 15.12.2023 – The number of ETH in circulation has decreased by 50 thousand units in the last month.

▼ 18.12.2023 – Ethereum’s price drop below key support coincided with a deposit of 11,200 ETH on the exchange. The transfer was made by Galaxy Digital.

▲ 18.12.2023 – According to Santiment, whales accumulated over 100,000 ETH during the correction in the last week.

▲ 20.12.2023 – Santiment reports a sharp decrease in ETH balances on exchanges for the top 10 largest wallets. The total ETH balance also continues to decline.

▲ 22.12.2023 – Ethereum developers have approved the dates for the Dencun hard fork in test networks: 17th January for Goerli; 30th January for Sepolia; 7th February for Holesky.

Solana (SOL)

▲ 19.12.2023 – The Solana blockchain has surpassed Ethereum and Tron in the volume of transferred stablecoins.

▲ 19.12.2023 – Since the beginning of October, the number of search queries for “Solana” has increased by 250%.

▲ 21.12.2023 – Solana’s TVL has reached $1.48 billion (+22% in 24 hours). This is the best figure in 16 months.

Ripple (XRP)

▲ 20.12.2023 – Ripple has been added to the Central Bank of Ireland’s register of virtual asset service providers.

▼ 22.12.2023 – In December, Ripple decided to sell all XRP unlocked during the year. According to XRP Scan, another 96 million tokens may be sold by the end of the year.

Cardano (ADA)

▲ 15.12.2023 – Cardano’s TVL has reached $548 million.

▲ 26.12.2023 – 14,302 new smart contracts have been created on the Cardano network.

▲ 26.12.2023 – The spot trading volume of ADA on centralised exchanges has increased by 83% in the fourth quarter of 2023.

Dogecoin (DOGE)

▼ 20.12.2023 – The SpaceX DOGE-1 mission has been postponed again due to weather conditions. The next launch window will be in mid-February 2024.

Polkadot (DOT)

▲ 15.12.2023 – Polkadot has taken the 2nd place among the top 10 blockchains by the Nakamoto coefficient.

▲ 21.12.2023 – There is an incredible increase in the number of signed transactions on Polkadot – 1 million per day.

Litecoin (LTC)

▲ 26.12.2023 – There are over 7.7 million addresses with a non-zero balance in the Litecoin network.

▲ 26.12.2023 – According to IntoTheBlock, 20% of the LTC supply has not moved for over 5 years.

Sui (SUI)

▲ 26.12.2023 – Sui Network’s TVL has exceeded a record of $200 million.

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