As we approach the end of 2023, the cryptocurrency market is witnessing a remarkable resurgence. After a prolonged period of consolidation, the market is showing signs of robust recovery. Bitcoin, the flagship cryptocurrency, is nearing the $40,000 mark, a significant milestone indicating renewed investor confidence. With the market’s momentum shifting positively, now is an opportune time to explore the potential of altcoins. Here are our picks of the top 5 altcoins to buy in December 2023.
Are Cryptos Bullish Today?
Analyzing the cryptocurrency market performance over the last two months, we can observe some interesting trends and changes in market dynamics. Here’s a quick analysis of crypto performances in the past 2 months:
- Total Market Capitalization:
- In early October, the total market cap was approximately $1.08 trillion.
- By early December, it increased to around $1.45 trillion.
- This indicates a significant growth in the overall market value, suggesting increased investor confidence and market activity.
- Bitcoin (BTC) Dominance:
- BTC dominance fluctuated slightly but showed an overall increase from around 49.67% in early October to approximately 52.13% by early December.
- This suggests that Bitcoin has slightly strengthened its position in the market relative to altcoins.
- Ethereum (ETH) Dominance:
- ETH dominance remained relatively stable, starting at around 18% in October and slightly decreasing to about 17.29% by December.
- Ethereum maintains a significant portion of the market, though it hasn’t seen substantial growth in dominance.
- Altcoin Market Cap:
- The altcoin market cap saw an increase from about $541.77 billion in early October to approximately $694.88 billion by early December.
- This growth indicates a healthy interest in altcoins alongside the major players like Bitcoin and Ethereum.
Where to Buy Altcoins?
For those looking to capitalize on this altcoin rally, choosing the right exchange is crucial. Bitget stands out as a solid choice for several reasons. Renowned for its user-friendly platform, Bitget makes the buying and trading process straightforward, even for beginners. Moreover, it boasts some of the lowest fees in the industry, maximizing the potential returns for investors. Whether you’re a seasoned trader or new to the crypto world, Bitget offers a seamless and cost-effective way to dive into altcoin investing.
Top 5 Altcoins to Buy
Let’s delve into the top 5 altcoins that are worth your attention this December:
1. XRP
XRP, the native token of the Ripple network, has shown remarkable resilience and growth. Currently priced at $0.62, its market capitalization stands at $33.4B. Over the past month, XRP has demonstrated a 2.2% performance, making it a top contender for investors seeking robust returns.
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2. SOL
Solana (SOL) has been a standout performer in the altcoin space. Known for its high throughput and low transaction costs, SOL is currently trading at $62.7. Its market cap of $26.6B reflects its growing popularity. Over the last month, SOL has seen a 58.4% increase, signaling strong investor interest.
3. ADA
Cardano (ADA) continues to attract attention with its strong fundamentals and commitment to sustainable, scalable blockchain solutions. ADA’s current price stands at $0.388, with a market capitalization of $13.7B. Its performance over the past month shows a 21.37% growth, underlining its potential as a solid investment choice.
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4. MATIC
Polygon (MATIC) has emerged as a significant player in the Ethereum scaling and infrastructure development. With its current price at $0.80 and a market cap of $7.4B, MATIC has recorded a 21.4% increase over the last month, highlighting its growing relevance in the crypto ecosystem.
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5. XLM
Stellar (XLM) is known for its efficiency in cross-border transactions. Priced at $0.121, its market cap is $3.4B. In the past month, XLM has shown a negative performance of -0.78%, making it an attractive option for investors as its prices are expected to join other altcoins that made big comebacks.
