Bitcoin (BTC) price also seems to be taking a break over the weekend. While the potential approval (or rejection) of the first spot Bitcoin mutual funds is imminent, there is little movement in the cryptocurrency market today. Traders and investors may remain on the sidelines waiting to see what comes next.
A look at the crypto market
The total market cap of all cryptocurrencies combined is $1.73 trillion according to CoinGecko. This is only 0.1% lower than 24 hours ago. The total trading volume is $72 billion. Bitcoin market cap is $859 billion, with Bitcoin dominance at 49.7%.
Bitcoin has risen just under 1% over the past 24 hours to the current price of €40,335 on Dutch cryptocurrency exchange Bitvavo. On Bybit the price is $43,850. Compared to last week, the market’s largest coin is up nearly 4% despite the declines.
Faster risers, including OKB
Unfortunately, there are no big increases on Saturday. The fastest risers today are Lido DAO (LDO), Bitcoin SV (BSV), and Injective (INJ). The three currencies rose by 5.37%, 4.75%, and 3.24%, respectively. So there are no real outliers, which is a feature of the low volatility of the entire market at the moment.
The hardest falls, including Sai
The three biggest companies falling today are Aptos (APT), Sei (SEI), and Stacks (STX). The prices of the three stocks fell by 14.7%, 8.56%, and 7.37%, respectively, during the past 24 hours. The decline in Aptos in particular is significant. Losing nearly 15% in one day is not something to take lightly. For the most part, there are also more losers than winners today, which indicates that the altcoin market is mostly moving to the downside today.
The most important crypto news of the past day
Today an article appeared on the Crypto Insiders website about the fact that Digitalency Group, one of the most important and largest companies in the cryptocurrency industry, has paid off the huge debts of the bankrupt subsidiary Genesis. In total, DCG is said to have settled $700 million in outstanding debt, CEO Barry Silber reported today on X.
— Digital Currency Group (@DCGco) January 5, 2024
This is good and important news for the entire cryptocurrency industry. DCG is huge and has a huge impact in many places. During a bear market period, due to the company’s inability to repay debts, it seemed as if the company was on its way to collapse. This could have been a disaster of unprecedented proportions. Fortunately, this did not happen, and DCG is now able to pay the financial arrears again.
Bitvavo also still needs to receive $280 million from DCG. The Dutch Stock Exchange expects this to be completed in the first quarter of 2024.
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