Bitcoin and Ethereum Prices Plunge on December 26, 2023
Date: 2023-12-27 Author: Dima Zakharov Categories: BLOCKCHAIN
Bitcoin Takes a Hit:
The evening of December 26, 2023, brought unwelcome news for Bitcoin investors, as the price of the world's leading cryptocurrency fell to $41,750, down from $43,600 within a single day. The total market capitalization of all cryptocurrencies in circulation reached $816.3 billion, with $27.05 billion worth of BTC traded in the past 24 hours. Bitcoin's dominance over altcoins dropped to 50.3%, while the fear and greed index stood at 71 out of 100.
Ethereum Faces a Decline:
Ethereum, the second-largest cryptocurrency by market capitalization, also experienced a decline of nearly 3%, dropping to $2,190. The digital coin's total market capitalization decreased to $263.2 billion, with daily trading volumes of $9.88 billion and a market share of 16.2%.
Marketwide Decline:
The overall supply of cryptocurrencies in the industry decreased by 2.35% in the last 24 hours, totaling $1.65 trillion. Notably, Solana (SOL) saw a 14.7% drop in its prices, and Avalanche (AVAX) fell by 9.4%, ranking 4th and 9th, respectively, among the top digital assets.
Best and Worst Performers:
Among the top 100 cryptocurrencies, Bonk (BONK) suffered the most significant loss, plummeting by 16.2% during the reporting period. Despite this drop, the digital currency remains 309% higher than its values from a month ago. On the other hand, PancakeSwap (CAKE) emerged as the best performer, surging 19.83% in the last 24 hours due to a community-driven proposal to reduce its total supply.
