Bitcoin (CRYPTO: BTC) and Ethereum (CRYTPTO: ETH), the world's number 2 crypto, have shaken off their losing streak today.
Bitcoin is up 2.5% over the past 24 hours, currently trading for US$60,444 (AU$82,800). That gives the world's original crypto a total market valuation of US$1.143 trillion, according to data from CoinMarketCap.
Ethereum, Bitcoin's closest contender, is up 5% in 24 hours. One Ether is currently worth US$4,312, giving Ethereum a market valuation of $512 billion.
Now crypto investors just need to hope the tokens hold their value through Christmas.
Why Christmas?
Image source: Getty Images
It won't take up any space in your stocking
Do you remember getting cash from your grandparents for Christmas? Maybe a $10 or $20 note to save or spend as you saw fit.
Well times, they are a changin'.
According to a new study by crypto.com, 26% of Australians who hold crypto intend to gift some for Christmas.
Commenting on the findings, Ian Lowe, CEO of crypto trading platform Dacxi, said "It's not surprising at all that with the value growth in most cryptocurrencies this year, and particularly over the last three months, that many investors are keen to help their friends and family make their first steps in crypto."
Lowe said the proliferation of new crypto platforms makes it easier than ever to buy crypto. And many platforms, like Dacxi, have a "gifting feature".
According to Lowe:
The media narrative around crypto, which has seen a marked shift away from a focus on its perceived volatility and towards the very real long-term investment potential, has helped move the buying and selling of coins into the mainstream consciousness. Parents would often gift a child a share of a company to teach them about investing. In cryptocurrency, it's much the same.
"Christmas is a time of year when people are always looking for the opportunity to excite and impress loved ones," he added.
How have the number 1 and number 2 crypto been performing?
Ethereum has narrowed the gap with Bitcoin in the crypto space this year.
Ether is up a whopping 487% since 1 January 2021.
Bitcoin is up a more sedate 105%.
What will the number one and number two crypto be worth on December 26?
That remains to be seen.
