Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green
To mark the beginning of the last week of 2021, the crypto market is enjoying the greens.
After the quiet weekend, on Monday, the total crypto market capitalization has risen 2.8% to $2.55 trillion.
Amidst these greens, Bitcoin has moved back up above $50k to about $51,480. But the leading cryptocurrency is still down almost 26% from its all-time high of $69,000 in early November.
1) Additional funds jumping into the NewYear play.
This time, refocus on BTC, as one large Fund buys a strip of Jan14 52-56k Calls x1200 around 49.5k spot, just before spike >50k.
Then Jan7 50-54k and Mar 50-70k Call spreads bought, and now just prior to exp Dec31 51k Calls x500. pic.twitter.com/oplAHPS0hI
— Deribit Insights (@DeribitInsights) December 24, 2021
As for Ether, it is hovering around $4,100 while ETH/BTC is just under 0.08, down from a multi-year high of 0.0885 seen earlier this month and before that in late February 2018. ETH -8.07% Ethereum / USD ETHUSD $ 2,874.42
-$231.97-8.07% Volume 17.75 b Change -$231.97 Open $2,874.42 Circulating 119.25 m Market Cap 342.76 b 2 w Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 2 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
However, the biggest gainers of this round have been Kadena, Stacks, Uniswap, Amp, Elrond, Monero, Aave, Theta, and Cardano, which are up 10% to 20% in the past 24 hours.
KDA -0.85% Kadena / USD KDAUSD $ 7.24
-$0.06-0.85% Volume 48.6 m Change -$0.06 Open $7.24 Circulating 167.26 m Market Cap 1.21 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 2 mon Big Week Ahead? Bitcoin Rallies Towards ATH, Ether Sets A New High, Crypto Marks Hits $3 Trillion STX 2.55% Stox / USD STXUSD $ 0.01
$0.002.55% Volume 39.44 K Change $0.00 Open $0.01 Circulating 50.62 m Market Cap 365.54 K 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 3 mon Circle’s Stablecoin USDC Launches on Hedera Hashgraph's Network 3 mon Institutions Are Back to Pouring Money into Bitcoin as a “Perfect Storm” Brews for the King UNI -5.14% Universe / USD UNIUSD $ 0.00
$0.00-5.14% Volume 0 Change $0.00 Open $0.00 Circulating 88.03 m Market Cap 138.22 K 1 mon OpenSea Is “Not Planning” an IPO, says CFO After Community Push Back 2 mon Despite ETH Hitting A New ATH, Ethereum’s DeFi Market Share Drops by 30% in the Past Year 4 mon SEC Creates A Stand-Alone Office to Conduct Investigations into Crypto and Other Digital Assets: Report AMP -8.69% Amp / USD AMPUSD $ 0.03
$0.00-8.69% Volume 25.64 m Change $0.00 Open $0.03 Circulating 42.23 b Market Cap 1.43 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 2 mon Risk-on Assets Rally on Priced-in Tapering “Later this Month,” But Aggressive Rate Hikes Would Be “Extremely Bearish” 4 mon DeFi Rallies Towards New Highs As Multiple Layer 1 Blockchains Amaas $50 Billion in TVL EGLD -8.33% Elrond / USD EGLDUSD $ 159.28
-$13.27-8.33% Volume 149.59 m Change -$13.27 Open $159.28 Circulating 20.22 m Market Cap 3.22 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 2 mon Risk-on Assets Rally on Priced-in Tapering “Later this Month,” But Aggressive Rate Hikes Would Be “Extremely Bearish” 3 mon Risk-on Assets Recover and Start Rallying After Fed Chair Pushes Back Decision on Tapering to November XMR -9.17% Monero / USD XMRUSD $ 185.03
-$16.97-9.17% Volume 160.36 m Change -$16.97 Open $185.03 Circulating 18.07 m Market Cap 3.34 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 2 mon Biden Administration Sanction Another Crypto Exchange for Facilitating Illicit Transactions Along with REvil Operators 3 mon Chainalysis Uses Wallet Explorer to Gather IP Information on Crypto Users, Shows Leaked Docs AAVE -11.35% Aave / USD AAVEUSD $ 189.56
-$21.52-11.35% Volume 328.32 m Change -$21.52 Open $189.56 Circulating 13.48 m Market Cap 2.56 b 8 mon Coinbase Enables its Over A Million Wallet Users to Use DeFi — DEXs, NFTs, & More 8 mon Software Provider Temenos Enables Crypto Trading for Banks 8 mon Aave Is Testing Private Pools for Institutions to Ape into DeFi, Reveals CEO Stani Kulechov THETA -9.05% Theta Network / USD THETAUSD $ 4.05
-$0.37-9.05% Volume 373.65 m Change -$0.37 Open $4.05 Circulating 1000 m Market Cap 4.05 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 1 mon Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019 6 mon Katy Perry Invests in Decentralized Streaming Network, Staked TFUEL Surpasses 1 Billion After Mainnet 3.0 Launch ADA -9.77% Cardano / USD ADAUSD $ 1.22
-$0.12-9.77% Volume 2.82 b Change -$0.12 Open $1.22 Circulating 33.54 b Market Cap 41.05 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 4 w Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon Solana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report
Meanwhile, in the past week, decentralized finance (DeFi) tokens were pumping with Near, Fantom, Aave, Kadena, Sushi, and Cosmos, leading with 40% to 70% gains.
This week, some volatility could be expected as major cryptocurrency exchanges, including Binance, Huobi, and MEXC, close China’s fiat-to-crypto channels on Dec. 21, as communicated by them previously.
If volume starts to increase during rally, not bullish
Means mkt is running into sellers, much ammo from buyers being spent
Wouldn’t you rather see price floating up on no volume? Nobody willing to sell, buyers less quick to run out of cash
— bithedge (@bit_hedge) December 26, 2021
Bitcoin Pumps Prices
A Thai technology company also has its share more than tripled since it unveiled its expansion into Bitcoin mining in late July. Jasmine Technology Solution stock soared by almost 7,000% YTD.
“The strong response from investors has exceeded our expectations,” Chairman Soraj Asavaprapha said in an interview.
“There’s bullish optimism toward our new direction even though this is just the beginning.”
So far, the company has generated only 8 BTC from its 325 mining machines since operations started. Soraj expects next year to be even more active as it plans to invest about 3.3 billion baht ($98.3 million) in as many as 7,000 new devices.
The mining businesses will be profitable as long as bitcoin’s price holds above $30,000, said Soraj, adding revenue from Bitcoin mining will account for 80% of their total turnover by late next year.
NFL quarterback Mac Jones has also announced that he gifted Bitcoin to 12 of his teammates as a Christmas present.
These teammates include Ted Karras, David Andrews, Trent Brown, Yodny Cajuste, Yasir Durant, James Ferentz, Shaq Mason, Mike Onwenu, Alex Redmond, Justin Herron, Will Sherman, and Isaiah Wynn have become Bitcoiners for the first time.
Jones, who plays for the New England Patriots in the National Football League, said that he has been researching the cryptocurrency for some time now and reached out to fellow Alabama Alumni and Bitcoin Magazine CEO David Bailey.
“I’ve been studying Bitcoin for a while now. This year I just knew I had to give some Bitcoin to my teammates.”
For this, Jones used Bitcoin service provider Swan private, whose CEO said in a statement that the company’s mission is to “create 10 million new Bitcoiners.”