CandleFocus

Crypto Market Overview: What Happened in December?

In December 2024, the crypto market experienced a frenzy following the election of Donald Trump as the 47th President of the United States. Many coins posted triple-digit percentage growth. However, there were corrections and changing market sentiment towards the end of the year, with the Crypto Fear and Greed Index showing indecision and mild greed among investors. Memecoins, such as Kekius Maximus and Fartcoin, saw explosive growth, while larger cryptocurrencies like Bitcoin and Ethereum lagged behind. Budget Coin (BGB) also tripled in market capitalization but experienced a pullback. Hyperliquid doubled in price but declined towards the end of the month. SPX nearly doubled in December, and GMT and Solar experienced losses. Steem fell in market value, OpenGPU saw a significant drop, and overall market sentiment stabilized. As investors cash in on their gains, a further correction in the market is expected in the first quarter of 2025, and the impact of the upcoming inauguration on crypto policy will be closely watched.

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