Crypto Market Update: December 18, 2023

Despite a challenging macro- and industry environment, the total cryptocurrency market cap rose +98.61% during 2023 to reach US$1.6 trillion. Last week’s crypto market prices dropped by -4.51%, volume decreased by -9.67%, and volatility increased by +77.13%.

The market for Solana Saga smartphones is witnessing an unprecedented surge, with recent sales on eBay reaching as high as $5,000. This spike in demand and value is primarily driven by the increased hype around BONK, a Solana-based meme coin, and expectations of lucrative future airdrops.

Recent News Impacting the Crypto Market

Over the past two days, Worldcoin (WLD) has seen a significant price increase, reaching an all-time high of $4.70, with the token now up 55% in a week. Analysts suggest that WLD’s price could keep growing as real-world adoption and increased accessibility help foster new demand.

The Injective (INJ) price increase led to an all-time high of $34.64 on December 15. The INJ price has created several long upper wicks since the high, indicating a potential decrease.

The recent surge in ordinal inscriptions on the Bitcoin network has been good news for miners but not so good for users. As demand for block space increased over the weekend, transaction fees skyrocketed, netting miners more money.

Bitcoin Price Today

As of today, the price of Bitcoin (BTC) is $41,859.40. This represents a -0.80% price decline in the last 24 hours and a -4.80% price decline in the past 7 days.

The global cryptocurrency market cap today is $1.67 trillion, a 0.96% change in the last 24 hours and a 98.02% change one year ago. As of today, the market cap of Bitcoin (BTC) is at $826 billion, representing a Bitcoin dominance of 49.61%.

Top 3 Crypto Gainers and Losers

	Gainers	Losers
1	Creditcoin (CTC)	Beam (BEAM)
2	Hourglass (WAIT)	Helium (HNT)
3	Astroport (ASTRO)	Bonk (BONK)