The crypto market experienced positive momentum today, following a cautious period of volatile trading. Investors have been assessing the current economic health and other relevant factors. The recent release of U.S. PCE inflation data, which showed a cooling to 3% in October, seems to have boosted market confidence.
Bitcoin started December on a positive note, with a 0.28% increase over the last 24 hours, trading at $38,183.11. Ethereum also saw gains, rising by 2.78% to $2,098.65 with a trading volume of $9.31 billion. XRP increased by 0.43% to $0.612, while Solana experienced a 0.41% gain to reach $60.91.
Cardano, however, saw a decrease of 0.54% to $0.3798, and Dogecoin rose by 2.81% to $0.08404. Shiba Inu increased by 1.21% to $0.000008359.
The overall market also saw gains, with the global crypto market cap rising to $1.44 trillion and the market volume falling to $44.61 billion. The crypto market fear and greed index stood at 70, indicating a mainly bullish sentiment.
Pepe Coin Soars 3%
Pepe Coin experienced a surge of 3.01% on December 1st and traded at $0.000001105 during writing, despite choppy trading throughout the week.
Celestia (TIA) Jumps 13%
Celestia was among the top movers in today’s session, jumping by 12.68% to trade at $6.95 with a trading volume of $163.89 million.
Render (RNDR) Adds 7%
Render was another top gainer, adding 7.05% to its price and trading at $3.53. The volume of the crypto also increased by 49% to $115.28 million.
Sei (SEI) Crypto Adds 8%
SEI saw an increase of 7.60% and traded at $0.2601. Although its trading volume fell by 38.18% to $322.64 million in the last 24 hours, the crypto’s price has seen significant gains over the past seven days and thirty days.
Hot Take: Crypto Market Regains Confidence with Positive Momentum
The crypto market has regained confidence as positive momentum returns after a period of volatility. The recent release of U.S. PCE inflation data seems to have boosted investor sentiment. Bitcoin and Ethereum both saw gains, while other cryptocurrencies experienced mixed results.
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