The most exciting week of the year and most likely also of Bitcoin’s history is being filed.
In the last few days, from Christmas Eve until yesterday, there have been exciting and glorious days for Bitcoin that has marked new historical records time after time that have exalted the euphoria of enthusiasts, fans and not only.
The week closes with a clear positive sign that only in the last few hours has seen some profit-taking that have pushed back most of the prices for The News Spy review and most cryptocurrencies, but not for Ethereum.
Ethereum in recent days has remained a spectator, but yesterday it put the turbo trying to trigger the start of the altseason, expected since Bitcoin began the glorious ride that saw it yesterday exceed $ 28,000 for the first time.
Ethereum follows and drags the sector in this last week of 2020 with Bitcoin hovering below parity today compared to yesterday, while ETH puts in one of the biggest rises of the day with a 15% jump. Only DeFi, REN, Ocean Protocol (OCEAN), Terra (LUNA), THORChain (RUNE), and Chainlink (LINK) tokens do better, with rises extending just over 15% and no more than 20%.
The rises led by the queen of altcoins are dragging the sector, where 80% of the top 100 are in positive territory.
These rises over the past few days and hours drag the market cap past $720 billion, highest levels in 3 years. It had not been since January 2018 that these heights were reached, when the all-time record was set at $830 billion.
Capitalization sees 70% market share held by Bitcoin, which for the first time takes itself over 500 billion in capitalization.
Volumes explode, during the holiday season, something that had never happened in recent years. To find such euphoric Christmas days we have to go back to 2016 and 2013, when the phases between Christmas and New Year were for Bitcoin similar to the current one, with relevant percentages and gains of 20% in both cases, while this time it went over 30%.
Bitcoin went on to close the week with a 12% rise from last Monday’s levels.
In 2013 and 2016 Bitcoin prices were below $1,000, while the cryptocurrency sector was in a decidedly different context than it is now, a decidedly special moment for the sector and for Bitcoin.
The volumes precisely are explosive and yesterday, despite the holiday day were traded on Bitcoin over 10 billion in counter value in dollars, the second highest peak ever, the second time that the counter value exceeds 10 billion dollars in the month of December. The previous peak, absolute, was recorded on December 17, exactly 10 days earlier, with over 12.1 billion in dollar countervalue traded.
Ethereum in yesterday’s day saw the best day of trading with the highest peak since the beginning of the month, with over 4.7 billion, the second best day since the beginning of the year and the second best day ever. For Ethereum, the best day remains Nov. 26, when it surpassed $5 billion in trades for the first time.
This highlights the period and what is happening in these historic days not only for prices.
On the Bitcoin blockchain yesterday was the second highest trading volume day, with over $68 billion.
DeFi, record for Aave
Despite the upticks these hours, decentralized finance is not benefiting, with LTV remaining above 13 billion but below the December 20 record of over 14 billion.
Leader remains Maker with 2.6 billion, followed by Compound, while Aave in third position goes to 1.6 billion, highest peak ever for immobilized collateral.
The token on the other hand is not moving particularly, staying within the sideways channel with the $85 token. Aave’s swings since late November have ranged from $70 to $85.
Bitcoin (BTC), historical records for prices
The rise of these days puts the second consecutive week on the upswing with a leap that yesterday saw BTC go towards new historical records above $28,000 for the first time in its history.
It’s a month among the best and if it holds current levels for the next three days as well, it would be the second best month of the year, with a rise approaching 40%.
For Bitcoin, yesterday’s profit-taking pushes prices back to test the $26,000 mark, where purchases return again, bringing prices back above $27,000.