Cryptocurrencies Approach New Year in Positive Mood

Bitcoin advanced to its highest price in three days, though all of the biggest cryptocurrencies are negative for the week.

Dec 31, 2021 at 10:40 a.m. UTC
Updated Jan 3, 2022 at 8:04 p.m. UTC

Cryptocurrencies moved toward the year end in a positive mood, with bitcoin – the world’s largest crypto by market capitalization – adding about 3% over 24 hours and ether, the No. 2, also gaining more than 3%, CoinDesk data show.

  • Bitcoin climbed above $48,000, the highest in three days, while ether topped $3,800, the highest price since Wednesday.
  • All of the 10 largest cryptocurrencies by market cap were advancing as of 10:35 UTC, though all are lower than at the same time a week ago and all except Terra’s LUNA token and stablecoins tether and USDC are down more than 10% since the beginning of December, Messari data show.
  • LUNA rallied after a November community proposal to “burn” tokens, or permanently remove them from circulation. It touched a record high of $103 earlier this week. In the past 24 hours, it has added 4% to almost $90.


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Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.