2024 features XRP's historic market cap surge, Bitcoin's approach to $100,000, and Ethereum's promising price trajectory, along with insights on Grayscale's portfolio growth and emerging altcoin trends Explore the late explosive crypto market.
XRP overtakes Solana to become the third largest cryptocurrency
XRP/USD
After a dramatic market move, Ripple's XRP/USD became the fourth largest cryptocurrency, significantly reversing Solana's market capitalization. With a market valuation of $122 billion, XRP has seen an incredible rally, with the price rising to a seven-year high of $2.19.
Here are the driving forces behind XRP's incredible rise:
Multiple ETF applications from asset managers such as 21Shares and WisdomTree Strategic partnerships and product development from Ripple Labs Potential tokenization of significant financial assets Regulatory approvals, including potential RLUSD stablecoin launch Expectations Speculative excitement around potential high-profile investments
Bitcoin accelerates towards $100,000 milestone
BTC/USD
Bitcoin BTC/USD continues its relentless bull run, setting several historic records and gaining an astounding 129% since the beginning of the year. The cryptocurrency posted a record price increase of $26,400 in November, marking the most significant monthly candlestick completion to date.
Bitcoin main highlights
Chicago Mercantile Exchange futures contract hits $100,200 Predictions from industry leaders like Raul Pal suggest local high could hit $110,000 by January 2025 Valuation in 2025 Tom Lee's bold prediction that Bitcoin could reach $250,000 Available Bitcoin supply is decreasing, with less than 2.5 million coins currently publicly available on digital asset exchange
Ethereum price soars above $7,000?
ETH/USD
Ethereum ETH/USD is showing promising technical patterns that indicate important developments in the future. A three-year cup-and-handle pattern discovered by crypto researchers has the potential to take Ether to whole new heights.
Possible paths for Ethereum:
Analyst Venture Founder predicts a price target of $5,349 to $7,238 through Q1 2025, indicating a potential upside of 97% from current price Spot Ether ETF already has a daily value of $332.9 million Record-breaking influx Analysts such as Titan of Crypto and Wolf expect the price to be between $5,800 and $10,000 by May 2025.
Grayscale's market cap surges 85% in November
With cryptocurrency holdings increasing by 85% in market capitalization in November, Grayscale Investments plays a key role in the current development of the cryptocurrency market.
Grayscale Portfolio Highlights
Stellar (XLM) token registers a staggering 469% monthly increase XRP token gains over 262% in the past month Decentraland (MANA) Metaverse token gains 105% Investors profit from Bitcoin Signs of impending altcoin season on rotation
NFT market transaction value reaches $562 million
The non-fungible token (NFT) market is showing incredible resilience, with sales volume reaching $562 million in November, an increase of 57.8% from October and the highest level since May 2024. Masu.
Notable advances in NFTs:
CryptoPunks floor price rises from 26.3 ETH to 39.7 ETH Recovers from 7-month sales slump Investor interest in digital collectibles continues
regulatory environment
In a recent lawsuit, the U.S. Securities and Exchange Commission (SEC) accused Touzi Capital of defrauding more than 1,200 cryptocurrency investors by offering false crypto mining fund offerings.
