The cryptocurrency market continues to exhibit a bullish sentiment with Bitcoin (BTC) reaching $99,000 for the first time. Alongside BTC, Ethereum (ETH) and Solana (SOL) have also seen significant price increases of 9% and 12%, respectively. XRP has surged by 25%, propelled by news of Gary Gensler’s upcoming departure as US SEC Chair in January 2025. The global crypto market cap has risen by 6% to $3.26 trillion, with a total trading volume of $251 billion in the past 24 hours. Let’s take a closer look at the top cryptocurrency price movements on November 22.
Bitcoin has experienced a 5% increase in the past 24 hours, currently trading at $98,683. With a market cap of $1.95 trillion and a 24-hour trading volume of $106 billion, BTC continues to dominate the market with a 59.53% market share. Institutional interest in Bitcoin is growing, as evidenced by a $397 million inflow into ten Bitcoin ETFs on Thursday. Market sentiment may further be influenced by the awaited data from BlackRock’s IBIT.
Ethereum has surged by 9% today, reaching $3,331. With a market cap of $400 billion and a trading volume of $52 billion in the last 24 hours, ETH remains the second-largest cryptocurrency by market cap with a 12.20% market dominance. Despite seeing an outflow of $9 million in ETH ETFs, the purchase of Super Anon (ANON) tokens by ETH co-founder Vitalik Buterin on Base signifies the token’s potential in the privacy space.
Solana (SOL) has achieved an all-time high, currently trading at $261 with a 12% increase in the last 24 hours. With a market cap of $122 billion and a market dominance of 3.74%, SOL ranks as the fourth-largest cryptocurrency by market cap. Bitwise’s submission of a Solana spot ETF filing further underscores the rising investor interest in SOL.
XRP has recorded the largest jump in the past 24 hours, trading at $1.36 and marking a 25% surge. With a market cap of $78 billion, XRP holds the sixth position in terms of market capitalization. The coin’s 24-hour trading volume is $15 billion, with a market dominance of 2.38%. This significant rally indicates growing investor interest and reinforces XRP’s position in the crypto market.
Dogecoin (DOGE) and Shiba Inu (SHIB) have also seen positive price movements, with DOGE up by 6% and SHIB gaining nearly 7%. Other meme coins like PEPE, BONK, and WIF have shown impressive gains ranging from 6% to 13%, reflecting strong investor interest in the meme coin sector. In terms of top gainers, FTX Token (FTT) has surged by 34% in the past 24 hours, with XRP and Optimism (OP) also showing significant price increases. On the other hand, FLOKI and Peanut the Squirrel (PNUT) have experienced slight declines in price.
Overall, the cryptocurrency market is currently experiencing high volatility, with Bitcoin and Ethereum showing positive movement. This uptrend could be influenced by the upcoming weekly options expiry. Investors are advised to conduct thorough research and exercise caution while trading in the crypto market during this period of heightened volatility.
