The crypto market experienced a downward trend on Monday, December 25, with many investors taking a holiday break. However, there is anticipation for a potential Santa Claus rally in the market during the last week of the year. This comes after cryptocurrencies have seen significant gains throughout the year and reached their yearly highs. The approval of a Bitcoin Spot ETF in early January is also raising expectations for further price increases.
Bitcoin Price and Trading Volume
The price of Bitcoin was down 1.64% to $43,147.14 at the time of writing, with a trading volume increase of 48.88% to $19.71 billion over the last 24 hours. Bitcoin has recently reached a new yearly high of $43,902.72.
Ethereum Price
Ethereum’s price also experienced a decline of 1.26% to $2,281.94, accompanied by a 5.84% rise in trading volume to $8.58 billion over the past day.
Solana and BNB Prices
Solana crossed the $110 mark but was trading at $112.10, down 1.86% from yesterday. Its trading volume increased by 3.27% to $5.35 billion. On the other hand, BNB’s price declined by 1.31%, reaching $265.82, while its trading volume rose by 12.4% to $788.37 million.
XRP and Meme Coin Prices
XRP slipped 0.78% to $0.6171, but its trading volume surged by 55.14% to $1.18 billion. In the meme coin segment, Dogecoin fell by 1.67% to $0.09259, with a trading volume increase of 56% to $548.55 million. Shiba Inu dipped by 2% to $0.00001076, and its trading volume fell by 17.4% to $208.6 million.
Overall Crypto Market
The major crypto price declines impacted the overall crypto market on Monday. The global crypto market cap slipped by 1.19% to $1.66 trillion, while the trading volume rose by 24.76% to $62.51 billion. The fear and greed index reading stood at 72, indicating a “greed” sentiment in the market.
The Top Crypto Prices For Today Are
Pepe Coin Slips 4%
Pepe Coin experienced a decline of 4.29%, trading at $0.000001392, with a trading volume increase of 3.69% to $110.02 million. However, it has gained over 5% in the last seven days.
Quant (QNT) Adds 16%
Quant crypto has gained significant traction despite the broader market slump, adding 15.93% to reach $132.30, with a trading volume surge of 451.6% to $100.87 million. Over the past week, Quant has seen a nearly 23% increase in price.
Oasis Network (ROSE) Gains 17%
Oasis Network crypto stood out as one of the top performers on Monday, December 25, with a gain of 16.71%. It traded at $0.1346 and experienced a trading volume increase of 126.47% to $139.32 million in the last 24 hours. In the past seven days, QNT crypto has gained nearly 60%.
Hot Take: Crypto Market Experiences Holiday Slump, But Potential for Year-End Rally
The crypto market witnessed a decline in prices on Monday, December 25, as investors took a holiday break. However, with cryptocurrencies reaching their yearly highs and the anticipation of a Bitcoin Spot ETF approval in early January, there is hope for a Santa Claus rally during the last week of the year. Despite the slump, certain cryptocurrencies like Pepe Coin, Quant, and Oasis Network have shown resilience and significant gains. As the year comes to a close, all eyes will be on how the market performs in the coming days and whether the rally materializes.
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