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24 Hrs Crypto Update, Dec 13: Global Crypto Market Remains Bullish

  • The broader crypto market surged significantly.

  • The crypto market changes its trend due to the whales' movement.

  • The prices of BTC, ETH, XRP, and DOGE show gains in the last 24 hours.

14-Dec-2022 By: Sudeep Saxena
24 Hrs Crypto Update

The broader crypto market changed its momentum and shows gains 

In the last 24 hours due to macroeconomic circumstances. As a result, the prices of Bitcoin, Ethereum, DogeCoin, and Cardano are trading in the green.

At the time of writing, the global cryptocurrency market cap jumps 2.7% in the last 24 hours to $0.908 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $66.36 billion.

The crypto market leader, Bitcoin price is currently trading at $17,795. This follows a 3.7% increase in the last 24 hours. As a result, its market capitalization stands at $342.32 billion. 

As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,323.2, which increased by 4.14% in the last 24 hours. 

Cryptocurrencies Price Action

The price of Cardano (ADA) has increased by 2.93% in the last 24 hours. ADA is currently ranked 9th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of ADA was trading at $0.3145. 

In addition, the price of XRP increased by 4.3% in the last 24 hours. XRP is currently ranked 6th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of XRP was trading at $0.3945.

Shiba Inu (SHIB) continues to gain traction among cryptocurrency traders and influencers. It increased by 4.45% in the last 24 hours and is currently trading at $0.00000925.

What Turns Crypto Market volatile?

The global crypto market turns volatile because of the massive movement of large whales. As per reports, following a brief fall, the whales became active and began buying assets at lower prices, assisting the market in regaining a bullish momentum.

Furthermore, the US equity market also shows gains on 13th Dec trading session, indicating a correlation between the two markets. In addition, the global crypto market is waiting for the FED interest rate decision which is scheduled for 14-15 December.

Major Events Around the World
  • Sam Bankman-Fried, the founder of FTX, has been charged by the Securities and Exchange Commission with defrauding investors by using billions of dollars in customer funds for secret venture capital, and now he has also been charged by the Manhattan federal court with conspiracy to commit wire fraud among other crimes.

  • The Fashion Tour launched India’s first metaverse-exclusive fashion show, Blenders Pride Glassware Fashion Tour Park, in Decentraland.

COINGABBAR Views: If the current trend continues, the market will surge further. The volatility trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.

Read also: US CPI Inflation Drops To 7.1%, Bitcoin And Ethereum Rises

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