The Bullish Momentum in the Crypto Market Continues
The crypto market has started the month with a bullish momentum, as evidenced by the ongoing surge in the prices of digital assets. This presents investors with opportunities to look for the best cryptos to buy now. The recent rally is believed to be driven by optimism over potential Bitcoin Spot ETF approval, upcoming Bitcoin halving, and other macroeconomic updates.
Fed Officials’ Dovish Remarks Boost Confidence in Crypto
The recent dovish remarks from Fed officials have fueled investors’ confidence in the digital asset space. Speculation that the Federal Reserve could start cutting interest rates by March 2024 has led market participants to turn their attention to crypto assets.
Global Crypto Market Cap and Trading Volume Surge
The recent optimism in the financial market has bumped up the global crypto market cap by 4.01% over the last 24 hours to $1.54 trillion. The trading volume over the last 24 hours also rose 33.06% to $59.11 billion. Bitcoin hitting a new 19-month high has contributed to this surge.
Bitcoin and Ethereum Prices Soar
As of writing, the Bitcoin price was up 4.97% to $41,415.79, with its trading volume soaring 57.89% to $25.01 billion. Ethereum also jumped 3.74% over the last 24 hours to $2,242.34, with its one-day trading volume soaring 16.08% to $11.30 billion.
Terra Classic (LUNC) Price Analysis
Terra Classic (LUNC) has recently experienced a significant surge, with its price up 64.84% over the past 24 hours. It traded at $0.0002609, while its one-day trading volume rocketed 251% to $1.22 billion. The successful passing of Proposal 11890 and Binance launching the USTC perpetual contract could have contributed to the jump in price.
Terra (LUNA) Price Analysis
LUNA has also noted significant gains, jumping 38.27% to $1.17 as of writing. Its trading volume soared 306% from yesterday to $577.35 million. The crypto has added over 160% over the last 30 days.
ORDI (ORDI) Price Analysis
The ORDI crypto gained notable traction on December 4, with a surge of nearly 31% in its last 24-hour price. It traded at $42.80 as of writing and has added nearly 112% in its seven-day price.
Hot Take: Best Cryptos to Buy Now
If you’re looking for the best cryptos to buy now, three tokens have caught the eyes of market participants with their massive surge: Terra Classic (LUNC), Terra (LUNA), and ORDI (ORDI). These cryptocurrencies have shown significant gains recently and are worth considering for your investment portfolio.
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