News of cryptocurrencies of the 1st week of December 2023

Bitcoin exceeded $44,000

The price of Bitcoin (BTC) has returned to levels last seen in April 2022, before the disastrous events of Terra UST. The rise above the psychological level of $42,000 delighted market participants and led to enthusiastic predictions about future growth. The high point was $44,600, but at the time of writing this article, BTC is trading at around $43,800.

Dogecoin turns 10 years old

Dogecoin (DOGE) celebrated its 10th anniversary on Wednesday, with the DOGE price attempting to break through the $0.1 level that had been an insurmountable barrier the previous year. During this Wednesday, DOGE temporarily hit $0.106 as if to prove that nothing lasts forever, but then lost a bit of momentum following the overall market trend. However, it has managed to post gains of +18% over the past seven days, rising to its anniversary in memorable memecoin style.

And, of course, other popular “dog” tokens did not stand aside: Shiba Inu (SHIB) and BONK. They have exceeded expectations, recording gains of 20% and even 225%, respectively, in the last seven days.

TON network congestion

On December 5th, the TON network suddenly experienced a real explosion of network activity, thanks to a unique innovative implementation in the form of TON20, which is a variation on the BRC20 Bitcoin Ordinals theme presented by the Tonano team. Amazingly, more than 2 million transactions were completed in just half an hour, increasing network usage by an astounding 61 times. At its peak, the TON network split into as many as eleven blockchains, but then stabilized on five chains to cope with this colossal load.

Ethereum updated its annual maximum

Ethereum (ETH) climbed back to the top, hitting a new yearly high and increasing its value by almost 2% to $2,313. This $2,300 level was conquered by the price of ETH for the first time since May 2022 became a thing of the past.

USDT capitalization reached $90 000 000 000

On December 7, 2023, the stablecoin USDT achieved an impressive achievement when its capitalization exceeded $90 billion for the first time. The market share of this asset has reached 70%, highlighting its dominance in the stablecoin space. This impressive growth in capitalization began in mid-October 2023 and continues to rapidly gain momentum.

While USDT shines on the podium, its closest competitor USDC is on the decline. USDC's capitalization fell from $25.59 billion to $23.34 billion over the same period, demonstrating USDT's growing advantage amid these competitive dynamics.

Microsoft products and services can be paid for with Litecoin

Cryptocurrency payment processor BitPay has announced good news for Litecoin (LTC) holders paying attention to Microsoft products. Litecoin (LTC) owners can now fund their Microsoft accounts using this cryptocurrency. This demonstrates the clear rise in popularity of cryptocurrency payments as more companies open their doors to a variety of digital currencies, including Litecoin.

Last November, BitPay also announced that Litecoin is now accepted at Mecum Auctions, known since 1988 for selling collector cars, vintage motorcycles and works of art. This only highlights the growing acceptance of LTC as a medium of exchange and investment.

El Salvador Government Launches El Salvador Freedom Visa Program

The government of El Salvador, together with Tether, is introducing the innovative El Salvador Freedom Visa program. This unique initiative allows those wishing to invest $1 million in cryptocurrencies such as BTC or USDT into the country's economy, in return for which they will be able to obtain a free visa and, ultimately, citizenship of El Salvador.

This bold move will not only attract capital to the country, but will also create unique opportunities for investors seeking to be part of El Salvador's thriving economy. The government's plan is to raise about $1 billion annually through this program, which could become a catalyst for the development of the country and the cryptocurrency industry as a whole.

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