Crypto Trading Volume Hits $279.08 Billion As Bitcoin Dominance Surges

As of December 20, 2024, the total value of all tokens reached $3.27 billion. According to recent data from Phoenix, the number of cryptocurrencies in circulation stood at 31,608. Global trading participation also grew, with a trading volume of $279.08 billion, reflecting growing trading participation. Bitcoin ($BTC) accounted for 57.8% of the total market share of cryptocurrency.

Bitcoin ($BTC) dominated at $95,419, while Ethereum ($ETH) was at $3,286.6. Ethereum’s market share was 12.2%, and Total value locked (TVL) spiked to 182.6 billion in decentralized finance (DeFi). The average gas fees on the $ETH network slightly declined to 24 GWEI, making user transactions more efficient.

Top Crypto Movers and Market Trends

Large price swings over the past 24 hours may, therefore, imply active trading within several of the cryptos. $MOVE was up by 14.49%, while $XDC, $FLR, and $HBAR contributed 4.80% ,4.16 and 3.44%, respectively. These figures only show that investors have remained constantly eager for these projects.

$MOVE underperformed with a 6.93% decline in value, followed by $FLR, which recovered only 7.46% of stocks, and $MOVE, which lost 9.11%. These swings raise the temperature of the cryptocurrency market since sentiment and other factors are changeable.

Liquidations and Risk Analysis

Over the past 24 hours, liquidations have been massive across significant exchanges, close to $215 million. The highest amount was liquidated $BTC $253.99 and $ETH $219.15M, while $DOGE was $65.5 million and $ETH was $39 million. Liquidation data is evidence that market activity is pronounced during a volatile market.

The participants persist with prices because these matters include altercations in prices, patterns of prices, and the general trading activities observed within the market. BTC remains dynamic and is defined by many changes regarding trading and investment.