Today's Crypto Prices January 4 2024: Bitcoin and Ethereum Sluggish

The majority of top crypto prices moved in the red zone in trading Thursday (4/1/2024). Bitcoin and Ethereum prices are under pressure.

Based on Coinmarketcap data, the price of the cryptocurrency with the largest market capitalization, Bitcoin (BTC), fell 4.47 percent in the last 24 hours. Over the past week, the price of bitcoin was cut by 1.64 percent. Currently, the price of bitcoin is at USD 42,925.63.

Likewise, the price of Ethereum (ETH) moved in the red zone in the last 24 hours. Ethereum price cut 6.36 percent. In the final section, the price of Ethereum plunged 8.03 percent. Now, the price of Ethereum is at USD 2,210.58.

Meanwhile, the price of Binance Coin (BNB) rose 0.49 percent in the last 24 hours. However, over the past week, the price of BNB fell by 2.37 percent. Currently, the price of BNB is at USD 315.61.

Meanwhile, the price of the crypto Solana (SOL) was cut by 7 percent in the last 24 hours. Over the past week, the price of Solana plunged 8.74 percent. Now, the price of Solana is at USD 99.84.

The price of XRP weakened 6.98 percent in the last 24 hours. However, over the past week, the price of XRP fell 9.12 percent. Currently, the price of XRP is at USD 0.5821.

Cardano (ADA) price fell 7.69 percent in the last 24 hours. In the last week, the price of Cardano slipped 13.29 percent. Now, the price of ADA is at USD 0.5613.

Avalanche price fell sharply in the last 24 hours. Avalanche prices fell 8.93 percent. Over the past week, the price of avalanche fell 14.37 percent. Currently, the avalanche price is at USD 37.06.

The price of Dogecoin (DOGE) was cut by 9.85 percent in the last 24 hours. In the last week, the price of Dogecoin fell 12.77 percent. Now, the price of Dogecoin is at USD 0.08255.

Today's crypto prices such as tether USDT (USDT) rose 0.01 percent in the last 24 hours. Over the past week, the USDT price weakened 0.02 percent. Currently, the USDT price is at USD 1.00.

USDC price rose 0.03 percent in the last 24 hours. In the last week, the price of USDC increased 0.03 percent. Now, the USDC price is at USD 1.00.

Global crypto market capitalization fell 4.99 percent in one day to USD 1.64 trillion.

Crypto Market Capitalization Soars USD 800 billion Throughout 2023

Previously it was reported that crypto market capitalization would jump to more than USD 800 billion or the equivalent.

Reporting from Yahoo Finance, Wednesday (3/1/2024), after losing more than half of its value in just 12 months last year, digital coins have recovered over the past year with an overall crypto market capitalization of around USD 1.6 trillion by Christmas 2023.

The price of Bitcoin, the most popular and valuable cryptocurrency, has more than doubled, rising more than 150 percent over the year. One Bitcoin is now worth around USD 44,000.

Ethereum, the second most popular cryptocurrency, increased its value by 88 percent over the year. Solana, another widely traded coin, is up more than 1000 percent during 2023. The digital currency data comes from Coinmarketcap, which is owned by cryptocurrency exchange Binance.

Bitcoin's previous highest value was just over USD 65,000, amid a buying frenzy in November 2021. Famous investors including Elon Musk got into the cryptocurrency, but most of its value was wiped out over the next 12 months.

However, despite a series of ongoing controversies, the cryptocurrency made a comeback in 2023.

These include the collapse of FTX, the world's second-largest cryptocurrency exchange, in late 2022. The foreign trading house was found to have misused customer funds to prop up high-risk investments and luxury purchases for executives.

That same month, the founder of Binance, the world's largest digital coin exchange, agreed to plead guilty to criminal charges in a case brought by the US Department of Justice for money laundering offenses.

Changpeng Zhao said he would step down as chief executive of Binance as part of a deal with prosecutors.

Bitcoin Records New Record at the End of 2023, Number of Daily Transactions Touches 731,351

Previously reported, towards the end of 2023 the bitcoin network surpassed another record by verifying 731,351 significant transactions in one day. This achievement surpasses the previous record high on December 24, 2023 where miners confirmed a total of 723,459 transactions.

Reporting from Bitcoin.com, Wednesday (3/1/2024), on the same day, 314,003 blockchain-based NFTs were processed, or around 42.93% of the total confirmed transactions. Meanwhile, bitcoin miners experienced a very favorable fee market in December.

Despite breaking the daily onchain transfer record on New Year's Eve, approximately 351,000 transactions remained behind as of January 1, 2024. Over the previous 30 days, miners authenticated 16,704,699 transactions, an average of 6.7 transactions per second.

With this latest achievement, the network managed to reach an impressive rate of 8.10 transactions every second, which translates to around 30,000 transactions every hour. As of December 31, an average of 4,600 transactions were documented per block.

As of January 1, 2024, the interval between block confirmations ranges from 9 minutes 39 seconds to 8 minutes 55 seconds, with miners having validated a total of 946,371,028 transactions up to a block high of 823,890.

As 2023 turns to 2024, the Bitcoin network not only celebrates a historic achievement on New Year's Eve but also shows its unwavering expansion momentum.

Nearly 43% of transactions on the day were driven by Ordinal's fast-growing inscription trend, reflecting the network's ongoing evolution and its enduring capacity to accommodate new and diverse demand.

MicroStrategy Bitcoin Ownership Value Touches USD 8 billion

Previously reported, MicroStrategy Inc, a software company, increased its total Bitcoin holdings to more than USD 8 billion

Reporting from Yahoo Finance, Friday (29/12/2023), the Tysons Corner, Virginia-based company run by Bitcoin advocate Michael Saylor acquired 14,620 Bitcoins for USD 616 million, from November 30 to December 26, 2023, according to a filing with the Securities Commission and US Exchanges.

That brings his total holdings to 189,150 Bitcoins, or nearly 1% of the 19.58 million Bitcoins in circulation. Saylor, chairman and co-founder of MicroStrategy, started buying digital assets in 2020 as an inflation hedge and an alternative to holding cash on the company's balance sheet.

This makes MicroStrategy a Bitcoin proxy for investors who want to gain exposure to Bitcoin but don't want to own it directly.

Saylor in an interview on Bloomberg TV last week said exchange-traded funds that are physically backed by Bitcoin are not a threat to MicroStrategy because the shares are leveraged bets with no fees.

The company has utilized debt financing and stock sales to fund its Bitcoin purchases. The average price for the most recent acquisitions was USD 42,110, while the average price for total holdings was USD 31,168, according to company filings.

MicroStrategy shares have soared more than 300% this year, outperforming Bitcoin as it rallied about 150% over the same period.