Next Week’s Crypto Market ForecastThis Week’s Summary
Crypto Trends 23 – 29 Dec 2024: Market Analysis and Performance
The crypto market ends an eventful 2024 that saw it experience depressing lows and unexpected highs. Fortunately, the latter still linger, maintaining an overall positive sentiment among investors and traders. Over the past week, most cryptocurrencies have performed well, showing small gains aligned with the festive period. Meanwhile, the market capitalization gained over $20 billion to end the year comfortably above $3 trillion.Bitcoin started trading in red at the beginning of the week. As Christmas came and passed, the king of cryptocurrencies recovered and almost touched the $100,000 threshold again. Unfortunately, the Grinch-like bears clawed back some power to force BTC’s value into a downtrend again. This seesawing trajectory continued in recent hours. However, Bitcoin is strong enough to end the week trading in the green at nearly $95,000.Ethereum recovered slightly this week. Still, it wasn’t enough for the second crypto in command to return way above the $3,500 mark. Instead, ETH gained just enough to trade at around $3,400. Its supporters hope Ethereum won’t slip before the year’s end and fall below $3K. This way, it will have a good starting point for 2025.
Altcoins & DeFi
Most altcoins are trading in the green. However, some still struggle to recover and remain slightly below the red line. For example, XRP is down by 4%, Cardano by 2%, and Avalanche by 3%. Meanwhile, BNB is up by 6%, Solana by 5%, TRON by 4%, and Toncoin by 6%.The memecoins are enjoying their holidays in the green. For instance, Dogecoin is up by 1%, Shiba Inu by 1%, and Pepecoin by 3%.The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is up by 6%, Floki by 3%, Decentraland by 4%, MultiversX by 1%, and ApeCoin by 6%. One of this period’s best performers, Virtuals, is up by a whopping 47%. Meanwhile, Render is down by 4%, Stacks by 5%, and The Sandbox by 1%.The DeFi sector lost almost $0.5 billion to the total value in locked protocols (TVL), which is now $123.39 billion.
Crypto Market Analysis – What’s in the News?
Next Week’s Crypto Market Forecast
Overall, the crypto market had a great year. Most cryptocurrencies overperformed, and Bitcoin finally reached the long-prophesied climb above $100,000. Crypto enthusiasts everywhere have good reasons to end the year in a festive mood. The next year is just around the corner, and we can only hope that it will take crypto even higher. Until then, we wish everyone a Happy New Year!More By This Author:Is Bitcoin Ending 2024 On A High Note? Analysts Say This Level Is Key
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