As Christmas is already here, it feels that it’s snowing great things in the crypto space. The most amazing yet astonishing part of today’s news is that NFT searches have outpaced searches related to crypto. The world is going crazy over NFTs be it Adidas, Nike, or Marvels. What NFT are you crazy about?
Christmas eve indeed brought loads of happiness to Bitcoin holders as the cryptocurrency finally made a move above $51K after constant correction between the $45K to $50K price value. This move saw a cash inflow of $120 billion in the crypto market. Is Bitcoin ready for its next price rally? What does the New Year of 2022 have in store for the Bitcoin holders?
According to a report, the revenue generated by the NFT market in the year 2021 was $23 billion. It’s no big news after the millions of revenue generated by Adidas NFT drop itself in a single afternoon. It is evident from these numbers that the NFT marketplace is gaining more momentum than ever and is the next big thing in the internet space. Read about the latest happenings in detail below.
Quick Crypto News Roundup!
Daily Crypto News Dec 25, 2021
2021 has clearly been a year for cryptocurrencies and NFTs. The sharp rise in searches around NFTs clearly indicates that digital collectibles have already achieved mainstream adoption. The transactions in OpenSea, the largest NFT marketplace crossed $10 billion.
Various consumer brands such as Nike, Adidas, Mariott have released their own NFTs this year along with other NFT collaborations such as Marvels and Disney. Even Top celebrities such as Snoop Dog, Gary Vee, Steve Aoki, Melania Trump, and others have been proactively promoting NFTs. Does that mean, the coming year has more in store for NFTs?
Read about NFTs outpacing crypto in detail.
It seems Santa has a Christmas present for all the investors and Bitcoin Hodlers as the cryptocurrency finally touches the $51K. This move saw an inflow of $120 billion into the market within 24 hours. Within 24 hours, the crypto market capitalization rose to $2.38 trillion from $2.26 trillion. It saw a gain of $121 billion in just 24 hours.
Bitcoin price soared to $51000 after three long weeks. Since the beginning of December Bitcoin has been trading in between $45000 and $50,000 after falling back from its all-time high of more than $69000 back in November. According to CoinMarketCap data, the cryptocurrency soared by 6.12% in a day and 8.89% over the past week.
Read more in detail about Bitcoin breaking the $51K zone.
JPEGs being sold for millions of dollars, auction houses selling blockchain-based artworks, and receiving cryptocurrencies as payment, seems to be the most followed trend in 2021. Every big brand seems to have its own NFT collection in 2021. Be it big fashion labels or movie franchise everyone has created their NFT collectibles.
After NFT received a green flag from famous celebrities and helped them earn billions, everyone is hyped about it. According to Lithuania based blockchain analytics company that is responsible for tracking more than 30 networks confirmed that the number of unique active wallets engaging with NFTs on a regular day-to-day basis went from 5000 at the beginning of the year to 140,000 by the year-end.
Read more in detail about NFTs generating $23 billion revenue in 2021 and what it means for 2022.
Crypto Market Trend December 25, 2021
Here is a quick summary of the top crypto gainers and losers for the day.
Top 3 Crypto Gainers
|Cryptocurrency||Price (latest by December 25, 2021)||Change in %|
*Prices are latest by 11 AM December 25,2021.*
Top 3 Crypto Losers
|Cryptocurrency||Price (Latest by December 25, 2021)||Change in %|
|Synthetix Network (SNX)||₹461.72||4.66%|
|The Graph (GRT)||₹55.69||3.88%|
*Prices are latest by 11 AM December 25, 2021.*
It’s Christmas already and the year 2021 is coming to an end. CoinDCX wanted to load your year-end holidays with goodies and treats. The New Year Countdown Carnival has already begun and is loaded with a Voucher basket worth up to INR 2000! Read about New Year Countdown Carnival in detail.