This Week In Crypto: Bitcoin Holds Steady, Musk Pumps Doge, And Melania Trump “Eyes” NFTs

20th December 2021
This Week In Crypto: Bitcoin Holds Steady, Musk Pumps Doge, And Melania Trump “Eyes” NFTs

Market Update

Bitcoin and Ether traded steady over the weekend. This comes after last week’s volatility which was caused by concerns over the Omicron variant as well as the run-up to the Federal Reserve’s decision to withdraw its USD 120 billion-a-month stimulus and raise interest rates next year.

At the time of writing, Bitcoin (BTC) is trading at USD 46,738.51 (-0.97%) while Ethereum (ETH) is trading at USD 3,927.95 (-0.46%).

Some altcoins have made big moves over the weekend. The price of Avalanche (AVX) fell by as much as 7% in the past 24 hours while Terra (LUNA) hit USD 77.20 on Sunday, just off its all-time high of USD 79.92 in early December.

Meanwhile, Melania Trump is releasing an NFT series on the Solana blockchain that “embodies Donald Trump’s cobalt blue eyes.” The former first lady’s first NFT is called ‘Melania Vision’ and will be available from 16 December to 31 December for one SOL.

Elswhere, Elon Musk revealed to Twitter that “Tesla will make some merch buyable with Doge & see how it goes”, causing the cryptocurrency to surge 23% last week.

Trading Volume

Trading volume across major centralised exchanges over the weekend was relatively low.

The total crypto market volume over the last 24 hours is USD 78.88 billion, which represents a 0.65% increase. The total volume in DeFi is currently USD 10.70 billion, 13.56% of the total crypto market 24-hour volume. The volume of all stable coins is now USD 61.24 billion, which is 77.63% of the total crypto market 24-hour volume.

Fear and Greed Index

The Crypto Fear and Greed Index uses 5-6 measurements to assess the current sentiment of the market and then rates that level of emotion on a scale of 1 to 100 – 1 is extreme fear and 100 is extreme greed.

The current score is 25 (Extreme Fear). This might signify a buying opportunity for investors. Read the full assessment here.

Written by Bread News Team
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