Crypto Espresso: Your quick shot of the latest crypto moves and news
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Your quick shot of the latest crypto moves and news, the Crypto Espresso is brought to you by Capital.com Australia (AFSL 513393), a multi-award winning global investment trading platform.
After spending much of Tuesday, 21 December with gains across the board, digital assets were somewhat mixed in the afternoon in the US. Bitcoin was up 3,63%, while Ethereum was up 2.52%, and Litecoin was 1.22% in the green.
Bitcoin has recovered ground after having slipped below $46,000 on Monday morning, its lowest point since September. BTC rose 4.3% to $48,517 early on Tuesday, with Ethereum rising by a similar amount to $4,009.6 after several volatile weeks. The improvements came as Avalanche (AVAX) became the tenth-biggest cryptocurrency by market capitalisation after a sterling rally over the past seven days.
The Solana blockchain, which launched in March 2020, has emerged as a serious rival to Ethereum. SOL’s price climbed to an all-time high at $260 in November, having started the year at $1.51. As of 21 December, the price has fallen away to $180.
HOGE, the cryptocurrency of Hoge Finance, had a spectacular end to October, when it hit a high of $0.0007, up nearly 350% in three days. By 21 December it had fallen to $0.0001757, or 77% off that October peak.
DeFi has generated a lot of buzz in the cryptocurrency space. One of the DeFi platforms that caught investors’ attention in 2021 was Kava, which aims to establish the world’s first dedicated DeFi network to present collateralised debt and stablecoins for the major crypto assets.
Blockchain gaming developer Gala Games saw the price of its token rocket by 700% in November. It dropped back by 50% by 21 December, but still has a market capitalisation of $3.1bn.
The terra (LUNA) token reached an all-time high above $80 on 20 December, even as other major cryptocurrency markets remained under pressure. The coin’s price has been rallying since July, rising from less than $1 at the start of the year.
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This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.