The crypto market is in full swing today. We started the day with a market colored red, but now things look a little different. Bitcoin (BTC) is on the rise, but some altcoins in particular are showing special features. In any case, Cardano (ADA) is looking forward to it again, as at the time of writing it is in the green at 8%.
View of the market
The total market capitalization of the entire crypto market increased by 0.24% to $1.57 trillion in the last 24 hours. Trading volume fell to $65 billion. According to CoinMarketCap, this represents a significant decline of 16.91% from the previous day.
The price of the king of cryptocurrencies is $41,800 at the time of writing. This is an increase of about 3% compared to ByBit’s low point, which was reached around 4:00 am last night.
Bitcoin experienced a nice upward movement, especially in the afternoon. This was partly due to the good news that was coming out. For example, Bloomberg reports that companies in the US can now add Bitcoin to their balance sheets at current market value, something that was not possible before. The market reacted positively to this.
That’s pretty big for corporate adoption. This means that Bitcoin/Crypto is now classified as a financial asset on your balance sheet rather than an intangible asset.
You can now mark unrealized gains because, as before, gains could only be recognized after the sale.
– Will (@WClementeIII) December 13, 2023
The Toughest Crypto Climbers
When we look at altcoins, we see that many are following BTC’s recent uptrend. Hedera (HBAR) ranks first among the fastest climbers today. It is on top with a whopping 8.82% increase in the last 24 hours. According to CoinMarketCap, HBAR is up 17.7% in the last 7 days. Furthermore, the market capitalization has reached its highest level in a year and a half!
#hbar It has surpassed its highest market cap value in a year and a half. pic.twitter.com/yWfIEC0HBU
– Ray (@rayyamartino) December 12, 2023
In second place is Internet Computer (ICP) with a price increase of 7.18% and in third place we see a well-known name in Cardano (ADA). Last week, ADA’s share price shot through the roof, but has had to pull back in recent days. It quickly found support and then seemed determined to continue its impressive rally. In the last 24 hours, ADA is up again by 7.08%.
At the time of writing, ADA is trading at $0.63, close to its yearly high of $0.64 on December 9th. Is it likely that we will see another outbreak today or tomorrow?
The Hardest Crypto Opponents
The strongest objectors today see no real outliers. For example, Aptos (APT) is leading today with a decline of 6.65% in the last 24 hours and is the fastest declining price. In second place we see Cosmos (ATOM) which is down 4.57% and we close with NEAR Protocol(NEAR); decreased by exactly 4%.
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