Stratis, Waves and Bitcoin Cash remind us of last year’s gains. What is behind this “Santa Rally”?
In the last 24 hours, Bitcoin Cash was able to make up gains of 25 percent. The situation is similar throughout the crypto market. The Ripple price (XRP), Ethereum, IOTA and almost all Altcoins can also profit from the upswing. Capital flows again.
Is it Christmas already? A look at the price pages lets you breathe a sigh of relief: Capital seems to be flowing into the crypto market again. An overview of the biggest gains in the top 20.
What you'll learn 👉
What could be behind this mini rally?
“The rise in cryptoasset value in the last 24 hours has many questioning if the market is experiencing a Santa Rally. The truth is crypto as a concept is still relatively new and we don’t have enough data yet to show if this is a typical December trend,” Mati Greenspan, a senior market analyst at online trading platform eToro, said in a statement to The Independent.
“What we do know is that the price increase is a strong push off the floor for the market. This type of movement is encouraging and may just end up creating a bottom for this battered market and possibly even a bullish trend into 2019.”
Such a positive spin on this relatively minor market movement is not shared by everyone within the cryptocurrency industry, however, with some saying investors should look towards 2019 rather than hope for any kind of Christmas miracle.
“With the festive break rapidly approaching, those looking for any crumb of comfort from the crypto market or indeed broader macroeconomic news should probably just surrender to over eating, family arguments and endless re-runs early,” said David Thomas, director and co-founder of Mayfair-based cryptocurrency exchange GlobalBlock.
“Along with the ongoing Brexit saga and Donald J Trump show, crypto markets continue to leach value with overall market cap across cryptos now threatening to break down through the $100bn level… Perhaps the only crumb of comfort to take from the whole situation is that a recent study has shown that ID verified crypto users have doubled in the first three quarters of 2018 from 18 to 35 million users, perhaps suggesting that despite the adjustment in price, adoption is slowly picking up.”
Waves surges ahead: 35 percent up
Waves currently ranks 19th among the crypto currencies with the largest market capitalization. In the last 24 hours, the Waves price gained a whopping 35 percent. The Waves token is currently 3.46 Us dollars.
Bitcoin Cash Leaves Satoshi’s Vision Behind it
Bitcoin Cash can also ride the green wave. With a total of 25 percent, the winner of the last Hard Fork is currently 113 US dollars and in sixth place. Satoshi’s vision could “only” increase by 5.8 percent and is currently in ninth place. The BSV price is trading at 84 US dollars.
IOTA price: 13 percent up
With a total of 13 percent, the token for the Internet of Things also made up ground again. The IOTA rate is currently 0.28 US dollars. It has thus risen by a total of 13 percent. IOTA ranks twelfth among the crypto currencies with the largest market capitalization.
Tron is doing well
The TRX course was also able to gain momentum again. With a total increase of ten percent, the TRON price stands at just under 0.0157 US dollars. TRON currently occupies 10th place among crypto currencies.
Stratis up by 59%
Another dapp platform and one of the older projects in the market, Stratis has seen a staggering price growth over the last 24 hours. Stratis is now 59% more expensive per token than it was yesterday.
Monero: Almost ten percent profit
The Privacy Coin Monero has been able to record almost ten percent price growth in the last 24 hours. The XMR rate is currently at 45 US dollars.
Ripple: XRP rate at 0.36 US dollars
The ripple price and XRP token have also seen some changes. While the Ripple community excellently dismantled the money transfer service provider Western Union on Twitter on December 18, the XRP price continued to rise. At nine percent, the number two after Bitcoin rose to a total of 0.36 US dollars per token.
The market leader can also score points
Of course, the BTC price has also risen in the last 24 hours. At 5.86 percent, it is currently at 3,740 US dollars. It almost seems as if the long-awaited bottom formation has finally been reached.
