Top 5 Cryptocurrencies Expecting a Price Surge in December 2021
Hop on our Telegram channel for the latest news updates and market insights
The cryptocurrency sector is surging following a few tough days. Its overall market cap has shot up by 5% within the last 24 hours, now standing at a staggering $2.41 trillion. The majority of prominent coins have risen in sync with the market, with Bitcoin (BTC) and Ethereum (ETH) showing gains of 2% and 5% respectively over the past week.
To celebrate this revival, we've curated a list of the 5 top cryptocurrencies ideal for a price surge. These aren't just coins that appear primed for a short-term recovery; they also exhibit promise for the longer haul.
5 Ideal Coins for a Price Surge
1. Bitcoin (BTC)
In the last 24 hours, BTC has climbed by 1.5%, reaching $49,461. With weekly growth of 2.2%, BTC is still down by 16% in the last month.
BTC's technical stats hint that it may be embarking on a breakout. Its 30-day moving average crossed paths with its 200-day counterpart yesterday, forming a golden cross. Additionally, its relative strength index (RSI) is hovering around 60, suggesting momentum without being overbought.
It's noteworthy that this market-wide rally wouldn't have occurred without BTC leading the way. This digital currency leads both drops and gains, so anyone hoping for a festive bull market should allocate some portfolio to BTC.
Of course, it's no secret that bitcoin has garnered more institutional interest than any other crypto. For instance, STAR Financial Bank in Indiana started offering Bitcoin trading services to customers on December 2, in collaboration with NYDIG and Alkali. Previously in November, the Commonwealth Bank of Australia announced a similar service for their customers. They join numerous other banks that adopted BTC this year.
Invest in Bitcoin Now### 2. Ethereum (ETH)
ETH is currently up by a smidge over 0.5% in the past 24 hours, priced at $4,053. In the last week, ETH has also climbed by 5%, though it's down by 6% in the last month.
ETH's indicators mirror bitcoin's. In other words, it too may be on the cusp of a breakout recovery. Its 30-day average continues to ascend.
indicative of ETH's potential next step.
With Ethereum transitioning to Ethereum 2.0, this shift to a more scalable proof-of-stake consensus mechanism could mean a massive 2022 for ETH. Part of the reason for this expectation is the potential deflationary nature of Ethereum 2.0, as it will depend on holders staking their ethereum to validate transactions.
In fact, ETH has already displayed signs of deflation this year, which is a result of the London hard fork causing base transaction fees to be burned. Over $1.15 million ETH has been torched since December 9, and this trend could intensify with Ethereum's move to proof-of-stake in 2022.
Since the implementation of EIP-1559, Ethereum's fee mechanism has been fundamentally altered
The now called "base fee" is now being burned, meaning that since the London Hard Fork, a total of 1.15m ETH has been burned to date
On average, 11,500 ETH are being torched daily.
- IntoTheBlock (@intotheblock) December 9, 2021
Consider Investing in Ethereum Now### 3. Terra (LUNA)
LUNA has been one of the few major coins to consistently gain ground throughout the recent market struggles. Currently priced at $94.39, LUNA has risen by 15.5% within the past 24 hours, and by 57% over the past week. In the last 30 days, it's skyrocketed by an impressive 114%, having reached a new all-time high of $95.08 just a few hours ago.
LUNA's chart shows the market might be on the verge of buying it too much. However, its momentum remains exceedingly strong, and with the rest of the market in a shaky state, it may continue shouldering the load.
As part of the Terra ecosystem, LUNA helps maintain the peg of Terra's stablecoins (like UST). The Terra protocol also consumes LUNA when minting new stablecoins. Given that the supply of UST has increased by over 200% since the beginning of November, it's no surprise that LUNA is still surging so high.
Terra has recently been announcing new integrations and partnerships. It introduced the very first Cosmos-native UST/LUNA trading pair less than a week ago, while it partnered with NEAR and Aurora yesterday. These partnerships will only serve to expand Terra's growing ecosystem, and the growth of LUNA's price will likely follow. This is why it's one of our 5 ideal coins for a price surge, not that it needs recovery on its own.
1/ The first Cosmos-native perpetual LUNA/UST pair is now available for trading on @InjectiveLabs!
Users can also access LUNA/UST + UST/USDT spot pairs, with IBC functionality enabling direct, native Terra - Injective transfers through your Station wallet 😎 Link Twitter### 4. Iota (IOTA)
IOTA has persevered well amidst the market instability. Priced at $1.28, it's climbed by 16% in the past 24 hours, and by 21% over the past week. In contrast, it's dipped by 6% in the last 30 days.
IOTA's technical stats indicate very potent momentum. Its 30-day average has sprinted past its 200-day average. Meanwhile, its RSI neared 90 yesterday, before returning to a more sensible level today.
IOTA is soaring because of the arrival of staking on Iota. Iota first unveiled this on November 16, but it was yesterday that pre-staking officially commenced.
📣ATTENTION: IOTA Pre-Staking Starts Now📣1. Download Firefly 1.3.02. Pre-stake your tokens (you have 7 days)3. Kick back, relax and receive SMR & ASMB rewards from Dec 28th @ 3PM CET for 90 daysFull details on IOTA Staking 👉 Website Twitter
Consider Investing in IOTA Now### 5. Polkadot (DOT)
DOT has ascended by 6.7% within the last 24 hours, now valued at $26.30. This represents a very minor 0.5% increase over the past week, as well as a 38% tumble in the last month.
DOT is long overdue a surge. It has been slipping steadily since the market turbulence took hold in November. However, its 30-day average crossed paths with its 200-day earlier this morning, indicating a potential breakout. Its RSI also suggests strong momentum, with the notable possibility that DOT has significant ground to recover.
Polkadot itself has plenty of good news brewing. It launched its first five parachain auctions on December 18, thus inducting the first five parachains into the Polkadot blockchain.
On Dec 18, history was made as the first five auction-winning parachains were onboarded to Polkadot. This marked an impressive milestone achieved by the Polkadot network - completing the vision of Polkadot as described in the whitepaper.
- Polkadot (@Polkadot) December 22, 2021
With these parachains now integrated with the main relay chain, and with more auctions planned in the coming weeks, expect Polkadot's ecosystem to gradually expand. This will produce more organic demand for DOT, finally leading to a long-awaited increase in price. This is why it's one of our 5 ideal coins for those seeking a surge.
Consider Investing in Polkadot Now
Investments carry risk
Related Content:
- How to Buy Ethereum
Join Our Telegram channel for the latest breaking news updates
Source
- The surges in the cryptocurrency sector have led to increased interest in finance, with the overall market cap of cryptocurrencies reaching $2.41 trillion, a 5% increase within the last 24 hours. With Bitcoin (BTC) and Ethereum (ETH) showing gains of 2% and 5% respectively over the past week, technology plays a significant role in the growth of these digital currencies.
- With institutions like STAR Financial Bank in Indiana offering Bitcoin trading services and the Commonwealth Bank of Australia announcing a similar service for their customers, it's clear that technology is driving the integration of finance and cryptocurrencies. As Bitcoin (BTC) leads both drops and gains, technology is essential for anyone hoping for a festive bull market to allocate some portfolio to BTC.
