Monday, December 25 was celebrated worldwide as Christmas day. But the celebration alone isn’t the only thing investors are smiling about; it is the value of the almost all cryptocurrencies that rose.
Days leading up to the holidays have seen digital coins been exposed as highly volatile. This was characterized by unstable prices as well as changing market trends. Bitcoin drama these past few days has also added to the volatility of the crypto market. But on Monday, the price of Bitcoins and other altcoins jumped up, thus enjoying a Christmas rebound.
At the time of filing this report, the market cap of all cryptocurrencies is at $557 Billion according to CoinMarketCap. This was good news because, on Sunday, the price of all coins fell below $490 Billion, though only for a short time.
On Monday, trade volumes totaled $25 Billion. with 45% of the whole trade accounted for by Bitcoin alone. These rebounds could be as a result of technical trading, but other catalysts that may be responsible for the gains are unknown.
On Monday, trade value surged above $14,000, and price per coin hit $16,000 BTC/USD. This gave Bitcoin a market capitalization of $238 billion.
Ethereum’s native token surged too on Monday after a brief stint at multi-week lows. Ether climbed nearly 10% against the dollar to reach $737. This was a great contrast to Sunday’s price at $550. Presently, ether is worth a combined $73 billion.
After Coinbase reinstated trading of the digital currency, it quickly picked up from where it stopped. BCH/USD advanced more than 9% to $2,813 for a market cap of roughly $50 billion.
Long positions on Litecoin also picked up on Monday, with LTC/USD values rising as much as 18%.