Cryptocurrencies are still waiting for their ‘Santa Rally’

Dec 23, 2021

By: BI India Bureau

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Bitcoin is currently at $48,481

The cryptocurrency is down by 1.5 percent in the last 24 hours

According to analysts,

Bitcoin and other major altcoins are trying to end the year on a strong note

Many investors are on-edge waiting for the so-called ‘Santa Rally’

A Christmas-boost in cryptocurrency prices to bring about some cheer

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For Bitcoin,

That means getting back above the psychological threshold of $50,000

Ethereum is at $3,960

It reclaimed $4,000 briefly yesterday, but has tumbled by 2.1 percent in the last 24 hours

Binance Coin is at $532.50

The bulls are trying to hold on to the $500 psychological support level

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Solana is also flat at $180

According to analysts, the selling pressure on the cryptocurrency seems to be thawing out

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Ripple’s XRP is just short being worth a full dollar

At $0.99, the cryptocurrency saw a 4 percent rise in the last 24 hours

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Cardano at $1.35 saw a similar rise

The cryptocurrency is up by 3.7 percent since yesterday

Terra and Avalanche’s recent bull run seems to have lost its steam

These cryptocurrencies are currently trading in the red

Terra is at $87.01

It’s down by 5.2 percent in the last 24 hours — a marginal dip compared to that 55 percent rally since till yesterday

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Avalanche is at $121.99

It’s down by 2.7 percent, also marginal compared to the 20 percent rally seen in the past week

The meme coin Shiba Inu tried to break speed with a 10 percent surge last night

But, right now the cryptocurrency is trading at $0.000035, only 4.65 percent higher than yesterday

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Polkadot saw a similar surge

The cryptocurrency is currently trading at $27.97, up by 7.7 percent in the last 24 hours

Decentralised exchange Uniswap launched a Polygon-version

This led to the cryptocurrency, MATIC, surging to an all-time-high of $2.7

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Polygon’s Matic is up by 7 percent as well

It’s currently trading at $2.66

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Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of December 23, 9:30 am IST and may change over the course of the day.

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