Cryptocurrencies Approach New Year in Positive Mood

Cryptocurrencies moved toward the year-end in a positive mood, with bitcoin – the largest by market value – adding about 3% over 24 hours and ether, the No. 2, also gaining more than 3%, CoinDesk data show.

  • Bitcoin climbed above $48,000, the highest in three days, while ether topped $3,800, the most since Wednesday.
  • All of the 10 largest cryptocurrencies were advancing as of 10:35 UTC, though all are lower than at the same time a week ago and all except Terra’s LUNA token and stablecoins tether and USDC are down more than 10% since the beginning of December, Messari data show.
  • LUNA rallied after a November community proposal to burn tokens, or permanently remove them from circulation. It touched a record high of $103 earlier this week. In the past 24 hours it has added 4% to almost $90.

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