Altcoin
BTC Rebounds from $93K, SOL Rises 6%, JASMY Surges 36%
The cryptocurrency market experienced a flash crash today, with Bitcoin (BTC) plunging to $92,000 after reaching an all-time high of $103,000. Major altcoins, including Ethereum (ETH) and XRP, mirrored this trend, leading to significant liquidations across the market. Despite the downturn, Solana (SOL) emerged as the top gainer among the top 10 cryptocurrencies, rising 6% at the time of writing. JasmyCoin (JASMY) outperformed all, surging by an impressive 36%.
The global crypto market cap saw a slight decline, now at $3.57 trillion, while the overall trading volume surged 22% in the last 24 hours. The Fear and Greed Index, which reflects extreme greed at 81, highlights strong investor sentiment despite the volatility.
Here’s a brief overview of some leading cryptocurrencies by market cap and their prices today, December 6.
Cryptocurrency Market Today: BTC Crashes, ETH Climbs, and SOL Gains 6%
Bitcoin price today tanked considerably, touching a low of $91,998 in the past 24 hours. Over $649 million was liquidated as Bitcoin dropped below the critical $100,000 level. Major altcoins also followed a similar pattern, experiencing sharp volatility.
Bitcoin Price Today
Bitcoin (BTC) price was trading at $97,541 at the time of writing, reflecting a 4% decline in the last 24 hours. Its 24-hour high reached $103,900, while it has recorded a substantial 33% increase over the past month. The market cap is currently at $1.93 trillion, with $146 billion in trading volume in the past 24 hours. BTC’s market dominance has dropped slightly, now standing at 53.84%.
Institutional activity continues to influence market trends. SoSo Value reported BTC ETF outflows of $3.85 million on Thursday, while Fidelity purchased $47 million worth of Bitcoin. Grayscale sold $148 million in GBTC shares while acquiring $95 million worth of BTC ETFs through its Bitcoin Mini Trust. BlackRock’s data on BTC activity remains anticipated.
Meanwhile, contrasting opinions about Bitcoin’s future have emerged. Peter Schiff suggested that Bitcoin could potentially destroy the U.S. dollar, while Fed Chair Jerome Powell expressed a more cautious perspective, emphasizing a balanced view of cryptocurrency’s implications.
Ethereum Price Today
Ethereum (ETH) price was trading at $3,859 at the time of writing, reflecting a 1% increase in the past 24 hours. The 24-hour low and high for ETH were $3,683 and $3,956, respectively.
Ethereum holds a market cap of $465 billion and has recorded a trading volume of $57 billion in the last 24 hours. Its market dominance stands at 13%, maintaining its position as the second-largest cryptocurrency by market cap.
XRP Price Today
XRP price was trading at $2.30, showing a 2% decline over the last 24 hours. Its 24-hour low and high were $2.23 and $2.48, respectively. XRP holds a market cap of $131 billion and recorded a trading volume of $17 billion, ranking it fourth among the top cryptocurrencies by market cap.
In other news, manufacturing company Worksport has announced plans to adopt Bitcoin and XRP for their corporate treasury. The company’s Board of Directors has already approved purchases of BTC and XRP, signaling a growing trend of institutional adoption in the cryptocurrency market today.
Solana Price Today
Solana (SOL) price was trading at $241, up by 6% in the past 24 hours. Its 24-hour low and high were $228 and $246, respectively. With a market cap of $228 billion and a trading volume of $9.41 billion in the last 24 hours, SOL maintains its position as the 5th largest cryptocurrency by market cap in the cryptocurrency market today.
Meme Cryptocurrency Market Today
The cryptocurrency market today saw a decline in meme coins. Dogecoin (DOGE) price dropped by 2%, trading at $0.43, while Shiba Inu (SHIB) also fell by 2%, priced at $0.00003079.
Despite the decline in top meme coins, other notable ones like PEPE, WIF, and Bonk showed slight gains. These coins increased by 1% to 4% in the past 24 hours, providing some positive movement in the meme coin segment.
Top Crypto Gainers Prices Today
JasmyCoin
JasmyCoin (JASMY) price was trading at $0.05225, marking a 36% gain in the past 24 hours. The 24-hour low and high for JASMY were $0.04173 and $0.05868, respectively, showing significant volatility.
In addition to its daily growth, JasmyCoin has seen extraordinary performance over the past week and month. It is up by 100% in the last week and an impressive 160% over the past month, positioning it as one of the top gainers in the cryptocurrency market today.
Worldcoin
Worldcoin (WLD) price was trading at $4, showing a 21% increase in the past 24 hours. Its 24-hour low and high were $3.20 and $4.17, respectively, reflecting notable price fluctuations.
dYdX (Native)
dYdX (DYDX) was up by 17%, trading at $2.11. Its 24-hour low and high were $1.75 and $2.163, respectively, showing notable price fluctuations. This surge reflected strong momentum for dYdX, making it a standout performer in the cryptocurrency market today.
Top Crypto Losers Prices Today
IOTA
IOTA price was down by 9% at the time of writing, trading at $0.4434. Its 24-hour low and high were $0.44 and $0.50, respectively, indicating some volatility. With a market cap of $1.57 billion, IOTA remains in the top 100 cryptocurrencies by market cap, despite its recent decline.
Algorand
Algorand (ALGO) price was down by 8%, trading at $0.453, making it the second top loser in the last 24 hours. Its 24-hour low and high were $0.44 and $0.49, respectively, reflecting the volatility in its price.
VeChain
VeChain (VET) price was down by 7%, trading at $0.06535 in the cryptocurrency market today. Its 24-hour low and high were $0.0641 and $0.0733, respectively, showing notable fluctuations in its price.
The hourly time frame charts are showing weak momentum across the cryptocurrency market today, with Bitcoin (BTC) down by 1%. Major altcoins are following a similar pattern, showing slight declines, while Ethereum (ETH) is up by 1% in the past hour.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cardano founder Charles Hoskinson says the network will play a key role in Bitcoin DeFi transactions in the future. With several partnerships and innovations in the works, Hoskinson says Cardano is bracing itself to explore layer 2 solutions on the Bitcoin blockchain,
Cardano Positions Itself For Bitcoin DeFi
In an interview with Scott Melker, Cardano’s founder has revealed ambitious plans for the network to turbocharge Bitcoin’s adoption for DeFi applications. Hoskinson notes that large financial institutions will trigger a demand for Bitcoin DeFi given their fiduciary obligation to create yield.
He notes that a Bitcoin ETF providing DeFi yields will trigger shareholders to demand similar yields. Hoskinson eyes a three-year timeframe for institutions to plant their feet in Bitcoin DeFi and UTXO DeFi.
Hoskinson says Cardano will combine Hydra with the Bitcoin Lightning network and build a trustless recursive bridge between both networks. The founder adds that its Aiken programming language will enabled to write both Bitcoin and Cardano scripts.
Furthermore, a partnership with Maestro, an infrastructure provider allowing Bitcoin integration with UTXO-based blockchain will provide a “turn-key experience” for users.
“It’s still early days but we are making methodical progress every step of the way,” said Hoskinson.
Hoskinson is moving on from his absence from the Crypto Summit at the White House, doubling down on technical innovation. He notes that the Bitcoin-focused plays by Cardano will not adversely affect the network’s road map.
Is Bitcoin Ready For DeFi Applications?
Hoskinson revealed in the interview that Bitcoin is ready for DeFi utility following the Taproot and the Lightning Network advancements. According to the founder, Taproot added programmability features to the Bitcoin network and Cardano will push the frontiers.
He adds that Cardano will enable Bitcoin users to engage in DeFi transactions while transacting with only BTC. Hoskinson says a merger between Bitcoin is enough to make Cardano’s DeFi significantly larger than Ethereum and Solana combined.
While the integration will send Cardano price soaring, ADA wallows at $0,6611 after losing 10% in a week. However, traders are targeting an ADA pump in May following the forming of a cyclical pattern.
An analyst argues that a price rally to $10 is not a crazy prediction given a streak of solid fundamentals and partnerships for Cardano.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The world’s second-largest digital asset, Ethereum (ETH), struggles to keep up with Bitcoin. Market data shows that the ETH/BTC ratio has dropped to its lowest level in five years. Consequently, investors and analysts are now questioning whether Ethereum can recover in the coming quarter, considering Bitcoin may continue its long-standing domination in the digital assets market.
The Ethereum Bitcoin Ratio At New Lows
ETH performed poorly compared to Bitcoin in the first quarter of 2025. According to a recent update from The Kobeissi Letter, the Ethereum to Bitcoin ratio has dropped to 0.02, its lowest level since December 2020.
Historically, Ethereum has gained strength after Bitcoin halvings, but the trend has reversed. While Bitcoin price is going upward, Ethereum has struggled to gain traction.
Several factors have contributed to this decline. Bitcoin’s narrative as digital gold has strengthened, drawing more institutional investment. In addition, the coin has faced challenges, including relatively higher gas fees and competition from other blockchain networks.
Unfortunately, the Ethereum Pectra upgrade, which experts believe could drive a price increase for the coin, faced some challenges. As reported by CoinGape, multiple testnet attempts failed before the Hoodi testnet that launched recently.
Some experts believe Ethereum’s transition to proof-of-stake has not delivered the expected market boost.
Q1 Performance and ETF Downturn
The ETH price performance in the first quarter of 2025 has been disappointing. For context, data shows that the coin has dropped 46% this year, nearly 4 times more than Bitcoin’s decline of 12%.
Many investors expected a strong bull run, but Ethereum has remained weak. The adoption of spot Bitcoin ETFs earlier in the year attracted billions of dollars, but Ethereum has not seen the same level of interest for its potential ETF.
Market analysts suggest that institutional investors are still hesitant about Ethereum’s long-term value compared to Bitcoin. Bitcoin’s fixed supply and reputation as a hedge against inflation have made it a safer choice for institutional investors.
Where is ETH Price Heading?
Some analysts believe ETH price could hit $10,000 if broader market conditions improve and the Ethereum Pectra upgrade launches on the mainnet.
Others warn that if the coin continues to lose value against Bitcoin, investors may start shifting funds to other networks like Solana or Avalanche.
Even though short-term price predictions remain speculative, some traders expect Ethereum to rebound as Bitcoin stabilizes. Others believe the ETH/BTC ratio could drop even further.
As of this publication, CoinMarketCap data shows that Ethereum’s price was $1,842.29, up 1.34% in the last 24 hours. Many experts believe that the coming days will determine whether Ethereum can regain strength or whether Bitcoin’s dominance will continue to grow.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.
Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government
At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.
Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.
However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”
“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”
Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.
DOGE Reacts Negatively To The News
Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.
The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.
One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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