Bitcoin Starts The Year Flat While Cardano, Dogecoin Rally Hard

• Cardano and Dogecoin outperformed, posting the largest gains among major tokens.
• Cardano’s rally followed public comments from founder Charles Hoskinson about stepping back from Twitter.
• Performance across large-cap cryptocurrencies remained mixed, pointing to selective risk-taking.

Bitcoin (BTC) and Ethereum (ETH) remained range-bound on the first day of the year, while Cardano (ADA) and Dogecoin (DOGE) led gains among major tokens.

Bitcoin’s price gained 1% in the 24 hours to around $88,600 on Thursday night, while Ethereum’s price edged 0.8% higher to $3,000. On Stocktwits, retail sentiment around both trended in ‘bearish’ territory over the past day. 

The overall cryptocurrency market remained above the $3 trillion mark, edging higher by 0.9% in the last 24 hours. CoinGlass data showed around $131 million in liquidation over the last 24 hours.

Cardano, Dogecoin Surge In New Year

Cardano and Dogecoin led gains among the top 10 cryptocurrencies by market capitalization on Thursday night. Cardano’s price soared nearly 8% in the last 24 hours to $0.3581. Retail sentiment around the altcoin rose to ‘bullish’ from ‘neutral’ over the past day, while chatter remained at ‘normal’ levels. 

Dogecoin’s price jumped 7.1% in the last 24 hours to $0.1266. Retail sentiment around the leading memecoin on Stocktwits surged to ‘extremely bullish’ from ‘bullish’ territory with chatter at ‘high’ levels over the past day.

While the reason behind Dogecoin’s surge was unclear, Cardano’s jump follows founder Charles Hoskinson announcing that he will be leaving Twitter after 13 years to focus on ADA’s development and the Midnight project.

“Why leave? X rewards outrage. The work that matters – Africa, Basho, Midnight 1.0, Cardano governance – rewards building,” Hoskinson said on his podcast. “Ten years taught me which game is worth playing.”

BNB Slips While XRP, Solana Edge Higher

The only cryptocurrency in the top 10 by market capitalization trading in the red on Thursday night was Binance Coin (BNB). BNB’s price dropped around 1% in the last 24 hours to around $862. However, retail sentiment around the altcoin on Stocktwits remained in ‘bullish’ territory over the past day. 

Ripple’s native token XRP (XRP) rose 2.2% in the last 24 hours to $1,88, while Solana (SOL) gained 1.6% and Tron (TRX) edged 0.9% higher. 

Read also: Crypto Markets Drift Into Year-End With Bitcoin, Ethereum Range-Bound

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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