It seems that the bitcoin (BTC) price is also taking a break during the weekend. While a possible approval (or disapproval) of the first Bitcoin spot ETFs is imminent, there is little movement in the crypto market today. Traders and investors may remain on the sidelines waiting to see what comes next.
A look at the crypto market
The total market capitalization of all cryptocurrencies combined is $1.73 trillion according to CoinGecko. That’s down just 0.1% from 24 hours ago. The total trading volume is $72 billion. Bitcoin’s market cap is $859 billion, with Bitcoin dominance of 49.7%
Bitcoin has risen by just under 1% in the past 24 hours to a current price of €40,335 on the Dutch crypto exchange Bitvavo. On Bybit the price is $43,850. Compared to a week ago, the largest currency on the market is up by almost 4% despite the declines.
The fastest risers, including OKB
Unfortunately, there are no major increases on this Saturday. The fastest risers today are Lido DAO (LDO), Bitcoin SV, (BSV) and Injective (INJ). The three coins rose by 5.37%, 4.75% and 3.24% respectively. So no real outliers, characteristic of the low volatility in the entire market at the moment.
The hardest fallers, including sei
The three biggest fallers today are Aptos (APT), Sei (SEI) and Stacks (STX). The three have fallen by 14.7%, 8.56% and 7.37% respectively in the past 24 hours. The decline in Aptos in particular is significant. Losing almost 15% in a day is not something to be taken lightly. Predominantly there are also more decliners than gainers today, which shows that the altcoin market is moving predominantly downwards today.
The most important crypto news of the past day
Today an article appeared on Crypto Insiders about the fact that Digital Currency Group, one of the most important and largest companies in the crypto industry, has repaid the gigantic debt of bankrupt subsidiary Genesis. In total, DCG is said to have settled $700 million in outstanding debt, CEO Barry Silber reported today on X.
— Digital Currency Group (@DCGco) January 5, 2024
This is good and important news for the entire crypto industry. DCG is gigantic and has a significant influence in many places. During the bear market, due to the company’s inability to pay back debt, it seemed like the company was going under. That would have been a catastrophe of unprecedented proportions. Fortunately, that did not happen and DCG is now able to clear the financial arrears again.
Bitvavo also still needs to receive $280 million from DCG. The Dutch exchange expects this to be completed in the first quarter of 2024.
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2024-01-06 16:06:46
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