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Crypto Outlook


The crypto market has fallen even more compared to the previous week.

The global crypto market cap is $797.54B, a 0.26% decrease over the last day. The total crypto market volume over the previous 24 hours is $29.02B, which makes a 1.94% decrease.

The greed and fear Index remains at 28, indicating fear sentiment.

Bitcoin: BTC is currently trading at $16,613.66, a price decrease of 0.35% over 24 hours. However, the price also decreased by 1.30% in the past seven days. Today BTC reached a low and high of $16,497.56 and $16,768.17, respectively.

The Pacific Islands are all set to start a movement in the Bitcoin community in the coming year. An announcement was made by Lord Fusitu’a, a Tongan noble and former member of the Tongan parliament, that Fiji had elected a new pro-Bitcoin prime minister.

A message by Tweet reads: Congratulations to brother Sitiveni Rabuka and our GOPAC Fiji’s Biman Prasad on winning your seats in the Fijian elections – And for being elected Prime Minister & Deputy Prime Minister of Fiji, respectively. Toso Viti, a new pro-Bitcoin friendly prime minister in the South Pacific. Fiji’s newly elected Prime Minister Rabuka. Let’s go 2 for 2 – BTC Legal Tender Bills for the Pacific in 2023.

Ethereum: ETH is currently trading at $1,199.03. The price decreased by 0.35% over 24hrs. The price in the past seven days also decreased by 1.40%. The ETH price formed a low and high of $1,185.70 and $1,206.59, respectively.

After the failure of the crypto exchange FTX, not only Bitcoin but also the world’s second-largest cryptocurrency Ethereum (ETH), has been witnessing severe selling pressure. The ETH price is trading under the $1200 mark, and investors are losing their confidence.

This ongoing Dec month is even more concerning as Ethereum whales have sold close to 1 million ETH coins. According to Ali Martinez, a crypto analyst from Santiment, a platform that gives users a 360° overview of the crypto market, Quoted data:

Ethereum whales holding 10,000 to 100,000 ETH have sold or redistributed around 880,000 ETH since December 2022.

XRP: XRP is currently trading at $0.3449, a price decrease of 3.78% over 24 hours. Moreover, the price also decreased by 0.44% over the last seven days. The XRP price formed a low and high of $0.344 and $0.3615, respectively.

XRP community is gearing up for the much-anticipated Summary Judgment in the long-running Ripple vs SEC lawsuit. However, a Twitter poll was organized by Attorney John Deaton, Amicus Curiae, asking users their views on what they think about ending the case in 2023.

As soon as the poll hit the internet, WhaleAlert notified some giant whales moving XRP tokens. According to data, in just 24hr, crypto whales moved more than 618 million XRP worth approx $221 million at the current rate.

The largest transaction has been of moving 410 million worth approx $146.5 million. Moreover, another whale moved around $50 million worth of XRP in another transaction. With all these transactions happening so frequently seems whales are keen about the end ruling in the XRP lawsuit.

Litecoin: LTC is trading at $66.74, a price decrease of 0.80% in 24 hours. Moreover, the price also decreased by 0.75% over the past seven days.

Litecoin recently got a number of eyeballs on it as it ranked second in terms of the most active chain in the last 24 hours. This seems to be promising news as it somewhat reflected LTC’s consistency in overall performance.

Litecoin has been consistently in the top 5 most active blockchains and today is ranked second as the most active cryptocurrency, according to Messari Chain Activity. Interestingly, while most cryptos struggled to maintain their prices and push upwards, LTC registered an excellent gain over the last week.

Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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