What Happened In Crypto Today? (Nov 22nd, 2024)

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The crypto market built a healthy momentum today, as the market capitalization rose 2.31% to $3.33 trillion. The bullish spike in market cap was heavily catalyzed by the 24-hour trade volumes, which shot up 8.82%, reaching $234.92 billion. Amidst this, the market sentiment, as reflected by the Fear & Greed Index hit an “Extreme Greed” score of 88.

Bitcoin Price Nears $100k Amid Growing Optimism

Bitcoin has continued its uptrend, surging 0.99% since the previous day. With the BTC price inching closer to the $100,000 mark, BTC’s dominance remains healthy at 59.23%. However, intraday trading volume dipped slightly, signaling potential cautiousness among market players.

Check out our latest Bitcoin Price Prediction for insights on BTC’s possible trajectories.

Solana Hits New Heights, XRP Rallies

Solana was in the buzz, as it claimed its all-time of $262.58, during early Asian trading hours. This achievement comes two years after the collapse of FTX, marking a noteworthy comeback for the Solana ecosystem. In the meantime, XRP price shot up 31.83%, leading the list of top 100 gainers as investor interest grew following market-wide optimism.

For more on Solana’s trajectory, explore our detailed Solana Price Prediction.

Top Gainers and Losers

Joining XRP among the top gainers, Optimism (OP) and Stellar (XLM) saw amazing increases of 27.81% and 26.14%, respectively. Conversely, GOAT, PNUT, and BSV struggled on the daily charts, posting significant losses.

Today’s Key Developments

• Gary Gensler Resigns: The U.S. SEC Chairman Gary Gensler announced that he will step down in January 2025, aligning with political transitions. His tenure saw major crypto regulations, and his departure could highly impact future policies.

• Sui Network Outage Resolved: Sui blockchain faced a 2-hour outage that halted block production, causing concern among its community. Operations have since resumed, but the incident highlights potential risks for emerging layer-1 protocols.

• Super Whale’s Bold Move: A renowned whale stacked $870,000 worth of Eigen Layer tokens, boosting its holdings to $3.56M. The whale, known for massive profits from PEPE, continues to diversify its portfolio amid rising altcoin activity.

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