AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- After experiencing a decline in prices for some time, some major cryptos surged across crypto charts on Wednesday.
- Dogecoin led the way, with a 33% gain in its price, following an announcement made by Elon Musk that Tesla would start accepting the token as payment for its merchandise.
- Other gainers were Avalanche, Solana, and Terra, etc.
After weeks of decline, the overall cryptocurrency market showed signs of recovery on Wednesday as the global crypto market cap climbed by 2.05% to US$2.18 trillion on the same day.
Source: © 2021 Kalkine Media®
Related Read: Why is Dogecoin the flavour of the season?
Which cryptos were on the list of top gainers?
Among all the major cryptocurrencies, meme currency Dogecoin led the growth chart among cryptos. It jumped as high as 33% to above US$0.21, following a tweet by Tesla CEO Elon Musk that the electric carmaker would be accepting Dogecoin as payment for the Tesla merchandise.
Other top gainers on crypto charts included Bitcoin, Avalanche, Solana, and Terra.
The world's most popular crypto, Bitcoin, gained marginally around 0.01% on 15 December. At the time of writing on 16 December, it was trading at US$48,797.28, with a volume of over US$36 billion in the last 24 hours.
Avalanche, with its native AVAX token, gained as much as 14.35% on 15 December. At the time of writing on 16 December, the token was priced at US$103.20.
Interesting Read: Avalanche moves up the crypto ladder, unseats Dogecoin
Other popular crypto tokens like Solana and Terra climbed 11% and 7%, respectively, on 15 December.
Another popular meme coin, Shiba Inu, rose 0.90% in the last 24 hours, and at the time of writing on 16 December, was valued at US$0.00003405.
Why were there fluctuations in crypto prices?
The Crypto market has been witnessing continuous price fluctuation for the last 24 hours. Most of the popular and large cryptocurrencies remained range-bound throughout the trading session.
However, some analysts, after seeing the trading volumes, opined that the upwards moves were temporary as the cryptos are still under pressure.
Must Read: Would Bitcoin make a comeback from lean patch?
Top three cryptos across the globe by market capitalisation, Bitcoin, Ethereum and Binance, have been down by 2.03%, 8.33% and 12.01%, respectively, over the last seven days.
It is pointed out that a trend is being witnessed after these cryptos enjoyed record highs during the year.
Bottom Line
The crypto market has been going through a lot of volatility. Individuals keen on exploring the crypto market can do in-depth research on prices, utility, and the platform the currencies are trading on.
