The market for cryptocurrencies on December 12,2024

the market for cryptocurrencies on December 12 The cryptocurrency market’s vivid blue hue reappeared on December 12 as the price of Bitcoin (BTC) recovered the crucial support zone of $100,000 USD. At the time of writing, Bitcoin is trading at almost 101,000 USD, up almost 4% over the previous day. According to data from CoinGecko, the market capitalization of Bitcoin has surpassed 2 trillion USD, and the trading volume has also remained over the 100 billion USD benchmark. Numerous Ethereum-based currencies, like SUSHI (up 30%), AAVE (up 28%), MAGIC (up 26%), and others, were listed among Binance’s top gainers. Interestingly, the SUI token also broke the all-time high by rising by another 29% to 4.8 USD. the market for cryptocurrencies on December 12

Let's examine the key happenings on December 12, 2024, with TradeCoinVN in this article!

Notable events:

During the December 11 trading session, $BTC-Spot BTC ETF funds reported a positive cash flow of 223.1 million USD. Up to five additional funds reported positive cash flow, with BlackRock’s IBIT fund leading the charge with a net cash inflow of $121.9 million USD. the market for cryptocurrencies on December 12

With a trading volume of about 615 million USD on December 11, $ETH-Spot ETH ETF funds also saw positive cash flow of 102.8 million USD. With $75 million USD, the ETHA fund (BlackRock) was the primary purchaser. the market for cryptocurrencies on December 12

Crucial details regarding other coins:

$BTC: As anticipated, the price of Bitcoin responded favorably when the November CPI hit 2.7%. As a result, there is now a greater than 90% chance that the FED will lower interest rates on December 18. the market for cryptocurrencies on December 12

$ETH: World Liberty Financial ($WLFI), the DeFi project supported by Mr. Trump, keeps buying 5 million USD of $ETH, bringing the total amount owned to over 55 million USD. the market for cryptocurrencies on December 12

Following the announcement that it would be listed on the Coinbase platform, the meme coin $PNUT saw a 30% increase in value. the market for cryptocurrencies on December 12

The new token standard, SuperchainERC20, was introduced by $OP-Layer 2 Optimism. It facilitates cross-chain communication between Layer-2s in Superchain without requiring liquidity pools or wrapped tokens. the market for cryptocurrencies on December 12

Helium Mobile’s $HNT indicates that a significant news will be made on Twitter’s channel X. the market for cryptocurrencies on December 12

The Beam Foundation, through $BEAMX, announced the opening of Beam Ventures, a gaming investment fund with a maximum value of $150 million. the market for cryptocurrencies on December 12

$MAGIC: TreasureDAO’s gaming environment has successfully switched from the Arbitrum network to the ZKsync network. the market for cryptocurrencies on December 12

$USDC: To encourage the global acceptance of USDC, Binance, the biggest cryptocurrency exchange in the world, announced a cooperation with Circle! the market for cryptocurrencies on December 12

On December 11, 2024, it was revealed that Binance Labs would be supporting a RWA project called Perena, which is based in Solana. the market for cryptocurrencies on December 12

Frequently asked question

What caused Bitcoin (BTC) to recover its support zone of $100,000 USD?

The recovery was driven by several factors, including the November CPI report showing a favorable 2.7%, increasing the likelihood of the Federal Reserve reducing interest rates on December 18. Additionally, positive cash flows into Bitcoin ETFs, particularly BlackRock’s IBIT fund, boosted investor confidence.

Which Ethereum-based tokens were among the top gainers on December 12, 2024?

Tokens like SUSHI (+30%), AAVE (+28%), and MAGIC (+26%) saw significant gains. The SUI token also reached an all-time high, increasing by 29% to $4.8 USD.

How did Ethereum (ETH) perform, and what notable events supported its growth?

Ethereum experienced positive cash flows into its Spot ETH ETFs, with a net inflow of $102.8 million USD. BlackRock’s ETHA fund was the primary buyer with $75 million USD. Additionally, World Liberty Financial, a DeFi project backed by Mr. Trump, continued acquiring $ETH, owning over $55 million USD.

What significant developments occurred in the cryptocurrency ecosystem on December 12, 2024?

Coinbase announced listing the meme coin $PNUT, causing its value to rise by 30%.
The $OP-Layer 2 Optimism introduced the SuperchainERC20 token standard, improving cross-chain communication.
Binance partnered with Circle to promote global adoption of $USDC.
Beam Foundation launched Beam Ventures, a $150 million gaming investment fund.

What updates were announced for Helium Mobile’s $HNT and TreasureDAO’s $MAGIC?

Helium Mobile’s $HNT hinted at a significant announcement on Twitter’s X platform.
TreasureDAO successfully transitioned its gaming ecosystem from the Arbitrum network to the ZKsync network, showcasing its adaptability and growth.

Viral Topic

Crypto Shockwave || Why is the price of Ethereum (ETH) not as high as it could be in the competitive cryptocurrency market? || In 2024, cryptocurrency hackers steal more than $1.2 billion

You can also read about cryptocurrency from our website.

myselfcrypto || insightbitmarket || truthofcrypto || buybitmarket || defidiary || tweetcrypto || cryptocosmosworld