Bitcoin saw a notable rebound after falling to its lowest price in over a month, hitting $91,816 on Monday, according to CoinMarketCap. data. This is its weakest point since November 26, shortly before a rise that saw Bitcoin hit an all-time high of $108,135 on December 17. The cryptocurrency has since recovered, rising over 4% over the past day to a current price of $94,819. .
Other major cryptocurrencies have mirrored Bitcoin’s recovery. XRP gained almost 6% over the past day, rising from $2.01 on Monday to $2.13. Despite being down from its seven-year high of $2.82 earlier in December, XRP has seen a remarkable 240% increase throughout 2024. Likewise, Dogecoin has risen by more by 6% in 24 hours, reaching $0.327. Although significantly below its three-year high of $0.48 earlier this year, the meme coin has generated a 262% gain for the year, benefiting long-term holders despite recent volatility.
Solana also showed a strong performance, rising 6% to nearly $198. While the cryptocurrency remains 25% below its all-time high of $263 set in November, it has gained 92% in 2024, cementing its position as one of the best performing assets of the year.
Among the top 100 cryptocurrencies, AI16z, a token built on the Solana blockchain and linked to artificial intelligence, emerged as the best performer. The token surged 38% in the last 24 hours, reaching $1.82. AI16z is part of a decentralized autonomous organization that uses AI for data-driven decision-making, aiming to redefine investment strategies in the crypto and technology sectors.
The recovery of the broader crypto market comes after a turbulent year. Bitcoin’s recent decline and rebound are part of a broader trend in which the market is facing significant challenges, including regulatory scrutiny and market volatility. However, the resurgence in prices of leading assets like Bitcoin, XRP and Dogecoin, as well as strong gains in projects like Solana and AI16z, suggest renewed optimism as the year ends.
This recovery could pave the way for further growth in 2025, as the market adapts to regulatory changes, technological advances and evolving investor sentiment. With several major cryptocurrencies showing resilience, the sector appears poised for another dynamic year.