Market highlights December 24: Crypto’s Santa rally

The crypto market is booming on December 24 as Christmas Eve approaches. This led analysts to coin the term “Santa rally”.

Top cryptos

Bitcoin and Solana are leading the way in the top 5. Both gained around 6% today. Binance Coin is up around 4%. Outside the top five, Cardano is finally starting to reverse extended losses. It is up just over 8% at the time of writing.

Terra continues its wild ride, down 13% yesterday, but up 15% both today and the day before yesterday. Crypto.com’s coin CRO has also gained 15%, recovering from recent losses.

Top movers

Dogelon Mars, a dog-themed meme coin with a name alluding to Elon Musk, Dogecoin, and Mars, entered the top 100 after gaining 38% this morning.

After NFT gaming ecosystem platform Sandbox raised $93 million in an investment round, the Sandbox (SAND) token price hit an all-time high of $3.45 on November 3. Then, it gained another 150%, reaching a peak of $8.51 about a month ago. It is currently trading for $6.26 and added 21% to its value today.

The live Internet Computer Protocol (ICP) price today is $28. Internet Computer is up almost 19% in the last 24 hours. It is surging on news that a new cross-chain bridge between Ethereum and Internet Computer would make it possible to support native ERC20 tokens on the ICP network.

Arweave, a decentralized storage network that seeks to offer a platform for the indefinite storage of data, is up 17% today. The network is a self-described “collectively owned hard drive that never forgets.”

Decentraland is yet another top 100 metaverse token to begin recovering from recent losses. It has gained 15% today. Fantom is also up 15%. Enjin Coin, another metaverse token, has gained 11%.

Dash, an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network, seeks to improve upon Bitcoin by increasing privacy and transaction speed. It has gained 14% today.

Following a rebrand to eCash (XEC), Bitcoin Cash ABC gained around 13%. It also redenominated to a 1:1000000 ratio.

The live Gala price today is $0.51 with a 24-hour trading volume of just over $1 billion. The gaming token is up 11.50% in the last 24 hours.

Other top 100 winners include Holo, IoTeX, SushiSwap, and WAX, which added value of 10%, 12%, 13%, and 12% respectively.