cryptocurrency Although the market started a rally heading into the Christmas holidays in Europe and the United States, it started to move a little more calmly. The total market value decreased by 3.2% in the last 24 hours, falling to 1.66 trillion dollars. Bitcoin (BTC) and Ethereum (ETH) attracted attention by recording a combined liquidation of over $335 million. However, BTC remains stable above $42,000, while ETH continues to remain above $2,200. The latest fluctuation comes ahead of upcoming US CPI (Consumer Price Index) data for November 2023. That said, here are three things to watch next week. altcoin continues to attract attention.
Avalanche (AVAX)
While major altcoins are facing a correction on daily charts, Avalanche It increased by 11.8% in the same time period. Moreover, the token literally shined, increasing by 64% compared to the previous week. AVAX is up over 220% since January 2023 and has managed to outperform Bitcoin (BTC), which is up around 154% in the same time frame.
Solana (LEFT)
solana (SOL) is among the best performing cryptocurrencies in 2023. SOL has increased by over 600% since the beginning of the year, surpassing BTC and other major projects. Although SOL faced a 4.4% correction on the daily charts, the token is up 7.8% over the previous week and 27.9% over the past month.
Considering its massive rise over the last few months, there is a possibility that SOL could face further corrections this week.
Ripple (XRP)
XRP, manages to be one of the most popular and strongest altcoins on the market. Leading fintech company Ripple uses XRP for remittances and cross-border transactions. Ripple recently won a partial victory in its legal battle with the SEC (Securities and Exchange Commission). As a result of its victory, XRP was legally declared “not a security”, further increasing its popularity. The token faced a 6.2% correction in the last 24 hours and is down 3.9% from the previous month.