Weekly Crypto News Updates| December 04

In the past week, the crypto market showed some unexpected gains, as bulls have succeeded in retaking control of the market from bears, establishing a fresh bull trend for the coming year.

The events of the previous week prompted positive sentiment in the crypto world, and we are eager to see what this month has in store. Before you get started, check out our Weekly Crypto News Updates.

According to CoinMarketCap, the current market cap is  ₹119.22 Trillion on 04 December. In the past few months, even the top-performing coins were seen as confusing and were trying to set a new market trend.

As of the past week, Bitcoin is priced at ₹3,396,896.73, reflecting a 3.47% increase within the last 24 hours and a 7.74% jump over 7 days. Talking about Ethereum, ETH is currently valued at ₹184,813.55, showing a 2.59% jump in the past 24 hours, with a significant jump of 6.95% over 7 days.

Weekly Crypto News Updates: Top Trending Coins

In the past week, three cryptocurrencies have remained the talk of the town because of some recent developments related to these cryptocurrencies: Near Protocol (NEAR), Solana (SOL), and Sei (SEI). 

In the past week, the price of Near Protocol (NEAR) showed a 16.34% hike. In addition, the token also experienced a significant jump of 5.98% in the past 24 hours. And the token is currently trading at the price of ₹175.50.

Talking about Solana (SOL), the token illustrated a 12.13% hike as compared to other major cryptocurrencies. In addition, NEAR has shown a 0.02% hike in the past 24 hours, trading at a price range of ₹5,345.53.

In addition, the Sei (SEI) token jumped by 30.72% in the past 24 hours. Furthermore, in the past week, the token surged by more than 9.54%. In addition, the price of the SEI token is trading at ₹24.33.

Top Crypto Gainers & Losers

The past week remains one of the most bullish weeks for the crypto market in 2023. So, let’s have a look at some of the top crypto gainers and losers from the past week:

Weekly Crypto News Updates Top Gainers and Losers

How the Crypto Market Became Bullish?

The cryptocurrency market reached fresh highs on expectations that a spot Bitcoin exchange-traded fund (ETF) will be approved in the United States soon. Aside from that, Standard Chartered forecast in a Nov. 28 paper that Bitcoin may reach six figures by the end of next year because of the “earlier-than-expected introduction” of spot ETFs in the United States.

Weekly Crypto News Updates: Trending News From the Last Week

▪️ The newly upgraded Tesla Cybertruck page has multiple references to Dogecoin in its code. Given Elon Musk’s track record, this has generated suspicion that Tesla may allow paying for the futuristic-looking truck using DOGE.

▪️ MicroStrategy and its subsidiaries, led by Michael Saylor, have purchased an additional 16,130 Bitcoin for about $593.3 million on Nov 30. While Bitcoin bull Saylor held onto his Bitcoin holdings during the downward market, he has become a more active investor as the crypto winter appears to be coming to an end.

▪️ Cristiano Ronaldo, a Portuguese footballer, has been sued for encouraging the sale of unregistered securities through a collaboration with Binance. The charges came nearly a year after the five-time Ballon d’Or winner touted his new non-fungible token (NFT) collection, and shortly after FTX investors sued major sports bodies for ignoring wrongdoing.

New Coin Listing on SunCrypto

In the past week, SunCrypto has listed a new coin on its application called Pyth Network (PYTH). Trading services for this coin is now live on the suncrypto application. 

SunCrypto Views

The recent bullish trend in the crypto market showcases its dynamic evolution, marked by significant gains and increased investor confidence. This surge reflects growing institutional interest and technological advancements.

However, despite these positive strides, the market’s inherent volatility persists. Investors should remain vigilant, conduct thorough research, and employ diversified strategies to navigate potential uncertainties. While the recent bullish trend inspires optimism, it’s essential to approach the crypto market with caution and a long-term perspective.

For more crypto-related content like Weekly Crypto News Updates, informational blogs, and crypto news, check out Suncrypto Academy.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision. You may write to us at [email protected].

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