Summary:
Bitcoin reached an all-time high of $108,135 but has declined over 12% since then.
Bitget reported a 683% growth in Gen Z users and introduced Solana limit order functionality.
Dogecoin's value is influenced by Elon Musk, currently trading at $0.30.
Solana is a strong Ethereum competitor, trading at $183.
Sui's cryptocurrency is gaining popularity with a current price of $4.2.
The cryptocurrency market is currently experiencing a decline as the holiday season commences. Many investors are taking a step back from their usual spending and investment activities, leading to a temporary lull in the market. However, this slowdown is expected to be short-lived, with renewed investor interest anticipated as the new year approaches.
Key Cryptocurrencies to Watch
Bitcoin (BTC)
Recently, Bitcoin reached an all-time high of $108,135, marking a significant milestone for the leading cryptocurrency. Since then, it has seen a sharp decline of over 12%, currently trading at $94,873, reflecting an 8.8% drop in the past week. Factors contributing to this downturn include the Federal Reserve’s cautious stance on interest rate cuts and substantial outflows from Bitcoin ETFs. This bearish trend may continue through the holiday season but could change in the new year with a potential crypto-friendly leadership shift in the U.S.
Bitget (BGB)
Bitget, the leading cryptocurrency exchange, reported a remarkable 683% monthly growth in Gen Z users in November 2024. They have also introduced Solana limit order functionality, allowing traders to set automated orders at desired price levels. The native cryptocurrency, Bitget Token (BGB), has increased by 23% in a week, currently trading around $4.
Dogecoin (DOGE)
The popular memecoin Dogecoin has shown notable upward momentum this year. Influenced by Elon Musk’s support for Donald Trump, Dogecoin continues to draw attention, currently trading at $0.30, with a 22% decline in the past week.
Solana (SOL)
Solana has emerged as a strong competitor to Ethereum, known for its high-speed transaction processing. Currently trading at $183, Solana has seen a 15% decline in a week while maintaining its status as a popular platform for decentralized applications.
Sui (SUI)
Sui, the cryptocurrency of the SUI Layer-1 blockchain, is designed for high transaction speeds. Recently gaining popularity, Sui is currently trading at $4.2, reflecting a decline of over 10%.
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