The cryptocurrency market is experiencing a decline as the holiday season begins. With many investors pausing their usual spending and investment activity, the market is experiencing a temporary lull. However, this slowdown is likely temporary, and investors are expected to return with renewed energy as the new year brings fresh opportunities.
Keeping that in mind, let’s take a closer look at the cryptocurrencies worth monitoring.
Less than a week ago, Bitcoin reached an all-time high of $108,135, marking a significant milestone for the leading cryptocurrency. However, since then, it has experienced a sharp decline of over 12%, driven by a combination of factors. The Federal Reserve’s cautious stance on interest rate cuts has dampened market sentiment, while substantial outflows from Bitcoin ETFs have further contributed to the downturn.
This bearish trend is likely to persist through the holiday season as market activity slows. However, the trend is expected to change in the new year as a crypto-friendly leader, Donald Trump, will become the new U.S. President in 2025, bringing a new wave of optimism among investors.
Currently, Bitcoin (BTC) is trading at $94,873, reflecting an 8.8% decline in the past week.
Bitget, the world’s leading cryptocurrency exchange, recently reported a remarkable 683% monthly growth in Gen Z users in November 2024. Additionally, Bitget has become the first wallet to introduce Solana limit order functionality, addressing the challenges of market volatility. Using this new feature, traders can set automated buy or sell orders at their desired price levels, eliminating the need for constant market monitoring.
The native cryptocurrency, Bitget Token (BGB), has increased by 23% in one week, currently trading around $4.
The highly volatile and widely popular memecoin Dogecoin has experienced notable upward momentum throughout the year. This year, Musk’s open support for former President Donald Trump has added a new layer of intrigue to Dogecoin’s narrative, drawing attention from both crypto enthusiasts and political commentators. The combination of Musk’s influence and the coin’s strong community backing has continued to fuel its unpredictable yet persistent rise, underscoring the unique interplay of celebrity, social media, and cryptocurrency in Dogecoin’s market performance.
Currently, Dogecoin is trading at $0.30, representing a 22% decline in a week.
Solana is seen as a strong competitor to the Ethereum blockchain and has witnessed remarkable growth this year, fueled by its high-speed transaction processing and cost-efficient infrastructure. Its ability to handle thousands of transactions per second has made it an attractive choice for developers and users alike, driving a surge in activity on its network. As a result, Solana has become a popular platform for hosting decentralized applications (dApps), ranging from DeFi projects to NFT marketplaces.
Currently, Solana (SOL) is trading at $183, representing a 15% decline in a week.
Sui, the native cryptocurrency of the SUI Layer-1 blockchain, is designed for high transaction speeds and seamless smart contract execution.
This year, Sui gained popularity because of its rapid growth and adaptability. For example, Phantom Wallet, one of the leading cryptocurrency wallets, announced its plans to support the Sui blockchain network. This announcement further boosted Sui’s price and increased investor interest.
Currently, Sui (SUI) is trading at $4.2, representing a decline of over 10%.
