XRP Surges 19.5% as Hedera and Ondo Lead Crypto Gains with 59% and 37% Increases

The cryptocurrency market continues to exhibit notable activity as bitcoin (btc) maintains its position within a constrained range between $92,000 and $98,000 over the last week and a half. Today’s standout performers include XRP, which has seen a remarkable 17.5% rise in value over the past day. Alongside this, Hedera (HBAR) and Ondo (ONDO) have made notable gains, increasing by 57% and 35% respectively, marking them as significant movers within the market.

The past 24 hours have witnessed a surge in trading volume, reaching approximately $285 billion, an increase of 66%, indicating heightened market participation. Conversely, the overall global cryptocurrency market capitalization saw a minor decrease of 0.5%, settling at $3.46 trillion. This dip follows a substantial influx in November, where the market expanded by nearly $1 trillion, suggesting a growing investor trust in the sector. Let’s examine the detailed movements and trends among leading cryptocurrencies on December 3.

Bitcoin has demonstrated resilience, maintaining its value within a tightly defined band, showing no significant fluctuations. Currently valued at around $95,500, Bitcoin has experienced a slight 2.5% decrease over the past day. Its trading range has seen a low of $94,000 and a peak of $97,500, and it holds a market capitalization of approximately $1.89 trillion. The trading volume for Bitcoin stands at $73 billion, with a market dominance of approximately 54.5%.

In the ETF landscape, Bitcoin ETFs experienced net inflows totaling $355 million, with BlackRock contributing a substantial $340 million. Conversely, Grayscale saw outflows of $29 million, indicating mixed investor sentiment. Additionally, the U.S. government has recently transferred an additional batch of Bitcoin valued at $1.85 billion, reflecting ongoing global discussions about strategic cryptocurrency management.

ethereum (eth), while remaining a major player in the market, has seen a 3% decline, with its current price at $3,630. Its 24-hour trading range is between $3,550 and $3,700, and it holds a market cap of $437 billion. The trading volume for Ethereum is $47 billion, with a market dominance of 12.5%. According to recent data, Ethereum saw an inflow of $25 million on Monday, with BlackRock’s contribution reaching $56 million. Over the past fortnight, Ethereum has attracted inflows totaling $635 million, highlighting increased institutional interest in the asset.

XRP has shown significant upward movement, rising to $2.70, with a 24-hour low of $2.20 and a high of $2.85. Its market cap has surged to $154 billion, enabling it to surpass both solana and USDT, securing its place as the third-largest cryptocurrency. XRP’s trading volume over the past day is $47 billion, with a market dominance of 4.5%. Ripple Labs Inc. has accelerated its testing of the stablecoin RLUSD, with nearly 10 million RLUSD tokens minted, pending potential approval from New York regulators.

Solana (SOL) has witnessed a 3% decrease, currently trading at $226. It holds a market cap of $107 billion, with a 24-hour trading volume of $7 billion. Despite its recent decline, Solana remains a strong contender in the market. In a recent development, Coinbase has announced its plan to list a Solana-based meme coin, Moo Deng, which has led to a notable increase in the coin’s value following the announcement.

The meme coin sector has experienced a downturn, with top coins like Dogecoin and Shiba Inu seeing declines of 6.5% to 7.5% over the past day. Dogecoin is priced at $0.41, while Shiba Inu is valued at $0.0000293. Other meme coins such as PEPE, BONK, and WIF have also experienced losses ranging from 6.5% to 8.5%, reflecting the overall bearish trend in this segment.

Among the top gainers, Hedera (HBAR) has emerged as a leader with a substantial 57% increase, trading at $0.375. Ondo (ONDO) also witnessed significant growth, rising by 35% to a price of $1.72. Both assets have captured the market’s attention due to their impressive performance.

On the downside, Raydium (RAY) has seen an 8.5% decline, currently trading at $4.85, while Kaspa (KAS) has dropped by 7.5%, valued at $0.155. Despite these losses, the overall market conditions suggest a potential for recovery, as many major cryptocurrencies have shown positive trends in hourly trading charts.

The ongoing developments and price fluctuations highlight the dynamic nature of the cryptocurrency market, underlining the importance of staying informed and vigilant amidst the ever-evolving financial landscape.