Bitcoin Pulls Back As KAS Rises, Altcoins Follow the Same
Red was the dominant color across all cryptocurrency charts on Wednesday morning. The OG cryptocurrency Bitcoin fell and pulled back from a nearly two-year high, but prices were still hovering around the top of the recent rally.
Other cryptocurrencies followed suit, making crypto investors nervous. However, Bitcoin’s recent price surge has spurred calls for a new crypto bull market, fueled by expectations that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded fund (ETF) by January 10.
Bitcoin price decreased by 0.36% in the last 24 hours, reaching $45,256 and its market value reached $886.54 billion. However, 24-hour trading volume increased by approximately 28% to $32.7 billion.
Ethereum, the second largest cryptocurrency beyond Bitcoin, also fell by 0.82% to $2,368. At the time of writing, the market value was $284.67 billion. Ether’s trading volume in the last 24 hours increased by over 37% to $11.68 billion.
Other tokens were also weak; tether price fell by 0.05% and BNB by 2.08%. solana fell over 3% in the last 24 hours, falling below $108, while XRP fell more than 1%. Memecoins also crashed; dogecoin lost 1.34% and Shiba Inu lost 1.78%.
The decline in cryptocurrency prices was also reflected in the global crypto market, which dropped by approximately 0.47% to $1.73 trillion. But the fear and greed index level remained at 74, indicating that investor sentiment is greedy, meaning they are still willing to buy.
Top 3 Cryptocurrencies For Today
pepe Money
The price of Pepe Coin decreased by over 4% to $0.000001367 in the last 24 hours, and its market value decreased by over 4% to $574.5 million. However, trading volume in the last 24 hours increased by approximately 3%, reaching $73.14 million.
Pepe Coin Price Chart
kaspa (KAS)
While major cryptocurrencies fell on Wednesday, KAS investors started cashing in, with the token rising nearly 2% to $0.12 in the past 24 hours. optimism was also reflected in the market value, which increased by 1.86% to $2.6 billion. 24-hour trading volume increased by over 30% to over $36.56 million.
KAS price chart
Arbitration (ARB)
arbitrum‘s price increased by over 9% in the last 24 hours to $1.89. The token has gained more than 47% in the last seven days and has a market cap of $2.41 billion. As of the time this article was written, the transaction volume was 1.3 billion dollars.
Arbitrum (ARB) Price Chart; All Image Credits: CoinMarketCap
Also Read: Bitcoin Spot ETFs Will Attract Pension Funds, Predictions CBOE Digital
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