Crypto Market Update Dec 31: Bitcoin Climbs Over $88,000 While Canton Tops Gainers List

Bitcoin Hits New Heights Above $88,000

The cryptocurrency market is buzzing today on December 31. for the first time in recent weeks. This big jump shows strong buyer interest as the year ends. Bitcoin now trades at around $88,500, up by 4.5% in the last 24 hours. This move puts BTC close to its all-time high.

Why is Bitcoin Surging?

Several factors fuel this rise. First, big investors called whales are buying more BTC. On-chain data shows large transfers to exchanges dropping, meaning less selling pressure. Second, good news from the US like ETF approvals keeps the mood positive. Spot Bitcoin ETFs now hold over 1 million BTC. Third, global money printing and weak dollar make BTC look like a safe bet.

Bitcoin dominance is at 56%, meaning it leads the pack. Total crypto market cap sits at $3.2 trillion, up 3% today.

– What’s the Story?

Among altcoins, steals the show as the top gainer. This token jumps 65% in 24 hours, hitting $0.045. Trading volume for Canton spikes to $250 million. Why the hype? Canton Network launched new bridges to Ethereum and Solana. This lets users move assets faster and cheaper. Also, a big partnership with a major bank boosts trust. Canton’s focus on real-world assets (RWA) like tokenized bonds draws smart money.

• Canton price: $0.045 (+65%)
• 24h volume: $250M
• Market cap: $450M

Traders watch Canton for more gains. If it holds $0.04 support, it could test $0.06 soon.

Other Top Gainers and Losers Today

Here’s a quick look at the crypto price today leaderboard:

Losers include Dogecoin down 2% and some meme coins. But overall, green dominates the board.

Ethereum and Major Altcoins Performance

Ethereum steady at $4,250, up 2%. ETH benefits from layer-2 growth like Base and Optimism. Solana shines at $220, up 8%, thanks to meme coin frenzy and DeFi boom. Its TPS (transactions per second) hits 1,500, beating ETH mainnet.

XRP holds $1.15 amid Ripple legal wins. Binance Coin (BNB) at $720, up 3% on exchange news.

Key Crypto News Impacting Prices Today

1. US Fed Signals Rate Cuts: Lower rates mean more money into risk assets like crypto.
2. Canton Network Expansion: New RWA integrations pull in traditional finance.
3. Bitcoin Halving Echo: Though months ago, effects still lift prices.
4. Asia Markets Rally: Japan and Korea traders push volumes.

Technical Analysis for Bitcoin

Bitcoin breaks $88,000 resistance. Next targets: $90,000 then $95,000. RSI at 68, not overbought yet. Support at $85,000. A dip there could be buy chance.

What to Watch in 2025

As 2024 ends, 2025 looks bright. Trump admin pro-crypto stance, more ETFs, and Web3 adoption. Canton could 10x if partnerships grow. But risks like regulation and hacks remain. Always use stop-loss and DYOR.

Final Thoughts on Crypto Price Today

December 31 brings cheer with and . Market sentiment is bullish. Stay updated for New Year moves. Trade smart!

Prices as of December 31, 2024. Market volatile, data approximate.

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.