This week which is heading into Christmas, brought modest gains for the leading cryptocurrencies in the market, Bitcoin and Ethereum. As of today, on the 24th of December, Bitcoin, the largest cryptocurrency in the market, increased by more than 1% over the past seven days. While Ethereum, the second-largest cryptocurrency in the market, increased by more than 4% over the same period.
According to data from CoinGecko, Bitcoin is currently, as of this writing, trading at around $16,859. And Ethereum is currently trading at around $1,222, as per data from CoinGecko. On the other hand, Dogecoin, the leading meme coin of the industry and Elon Musk’s favorite cryptocurrency, decreased by more than 8.8% over the past seven days.
According to data from CoinGecko, DOGE is currently, as of this writing, trading at around $0.077. This week when Elon Musk tweeted a poll asking whether he should step down from his Twitter post, to which the majority of fans responded with yes, the popularity of DOGE waned.
Solana’s SOL dropped by more than 15% to $11.86 over the past week, as per data from CoinGecko. While Cardano, the ninth-largest cryptocurrency by market cap, decreased by more than 13% to $0.259. While Polkadot plummeted by more than 14% over the same period. And Avalanche fell by more than 10% over the same period.
On the other hand, Ethereum Classic, Polygon, Uniswap, and Litecoin all posted similar losses of around 9% over the past seven days. This means that Bitcoin and Ethereum are the only two cryptocurrencies that posted modest gains over the past seven days. The rest of the cryptocurrencies in the market decreased over the same period. The reason behind this price decrease is related to the regulators’ strict policies over the industry and the collapse of FTX, which was once the biggest crypto exchange in the world and now is nothing.
