Bitcoin, ethereum and solana prices plunge

The prices of several cryptocurrencies including bitcoin, ethereum, and solana have plunged in the last 24 hours with the overall crypto market dropping in value by nearly 4 per cent in the last day.

BTC price has dropped below $48,000, plunging by about 3.5 per cent in the last day.

Meanwhile, ethereum has declined in value at a similar rate and is currently priced at about $3,800.

Other leading cryptocurrencies including solana (sol), cardano (ada) and polkadot (dot) have also plunged in value by over 3.5 per cent in the last 24 hours.

The prices of meme coins dogecoin and shiba inu have also dropped by over 3 per cent during this period.

The chart is still mostly red with no signs of recovery yet.

Bitcoin, Solana, and Cardano gain

Bitcoin has grown by over a per cent in the last 24 hours and is currently priced at about $51,000.

Meanwhile, ethereum, which was trading above $4,100 on Sunday has dropped below the mark and is currently priced at about $4,080.

Solana and Cardano have grown by about 2 per cent, while polkadot has surged by over 8 per cent in the last 24 hours.

The overall crypto market has grown by over 1.5 per cent in the last day and is currently valued at $2.39 trillion.

With the end of the year fast approaching, we reached out to various crypto experts to hear their thoughts about the year ahead.

We asked whether they think we’re heading towards another ‘crypto winter’ – and if so, when – and asked for them to make a prediction for the price of bitcoin over the next 12 months. Finally, we asked if there were any altcoins that they had their eye on for 2022.

You can read the full story here:

El Salvador president Nayib Bukele, arguably bitcoin’s biggest proponent in 2021, has warned of the death of fiat currency.

Earlier this year, Bukele became the first ever world leader to usher in laws to acknowledge bitcoin as a legal form of tender, allowing it to officially circulate in the country’s economy alongside the US dollar.

If the so-called ‘Bitcoin Experiment’ is successful, Bukele said it would be “game over for fiat”.

He tweeted: “El Salvador is the spark that ignites the real revolution.”

There are rumblings in several other Central and South American countries that suggest El Salvador may not be the last country to officially adopt bitcoin.

Bitcoin, Ethereum prices surge

Bitcoin has surged above the $51,000 mark, growing by over 5 per cent in the last 24 hours and up by nearly 7 per cent compared to its value a week earlier.

Ethereum has also surged by over 3 per cent in the last day and is valued at more than $4,100.

Other leading cryptocurrencies including solana, cardano, and polkadot have also grown by over 4 per cent in the last day.

Meme coins dogecoin and its spinoff shiba inu have also grown by 5 to 10 per cent in the last 24 hours.

The overall crypto market has surged in value by about 4.5 per cent over the last 24 hours and is currently valued at $2.39 trillion.

Bitcoin has returned above $50,000 for the first time since early December following a sudden price surge.

Several other leading cryptocurrencies appear to have piggybacked off BTC’s momentum, with Ethereum (ETH) breaking back above $4,000 and Solana (SOL) heading back towards $200.

The overall crypto market saw a 3 per cent increase over the last few hours, adding hundreds of billions to the total global market cap.

Elon Musk has once again expressed his love for dogecoin, joining a Twitter thread about Web3 and NFTs to proclaim that he is “pro doge”.

The thread included Twitter founder and bitcoin advocate Jack Dorsey, who was criticising the corporate involvement in the ‘decentralised space’. Responding to him was dogecoin founder Billy Markus, who explained how his goal was to simply “build stuff, make money, and have fun”.

You can read a full explainer on what exactly Web3 is, and why Elon Musk and Jack Dorsey are skeptical of it, right here.

Bitcoin, Ethereum prices drop after some gains

The prices of bitcoin and ethereum have dropped by about 2 per cent in the last 24 hours after significant gains on Wednesday.

The leading cryptocurrency is currently priced at about $48,500 after rising above $49,000 on Wednesday.

Although other leading cryptocurrencies such as solana (sol), cardano (ada) and polkadot (dot) have grown in the last 24 hours, the overall crypto market is still down by 0.2 per cent and is valued at $2.29 trillion.

Cardano has grown by about 3.5 per cent while polkadot has surged by over 9 per cent in the last day.

Memecoins dogecoin and its spinoff shiba inu are also showing signs of growth in the last 24 hours.

The price of Polygon (MATIC) is teasing an all-time high, reaching to within $0.03 of the peak it reached in May this year of $2.68.

It is the only one of the leading cryptocurrencies to be currently experiencing a near-record-breaking rally, with current discussions in crypto forums focussing on whether or not an all-time high is a good time to skim off profits.

It’s been a remarkable year for the altcoin, which has risen by nearly 15,000 per cent since January.

Leading cryptocurrency exchange Coinbase appears to have stopped working amid a major outage impacting several web services.

Users are reporting being unable to log in to their accounts to buy, sell or trade bitcoin and other cryptocurrencies.

Website health monitor Down Detector registered more than 500 reports of issues with the crypto exchange.