Crypto wrap Dec. 27: LDO, DYDX lead gains as PENGU, ZEC decline

LDO and DYDX are among the top gainers in the past 24 hours as cryptocurrencies look to end the year on a high. This is amid expectations of a further bull market rally in 2025, buoyed by a pro-crypto Donald Trump administration. However, the market has recorded declines in the past week as the anticipated Santa rally brought minor gains for top altcoins and Bitcoin (BTC). In this case, some altcoins that recently exploded have pared gains, including Pudgy Penguins, Zcash and FTX Token. Top crypto news In one of the top cryptocurrency news on Dec. 27, the government of Montenegro finally approved the extradition of Terraform labs co-founder Do Kwon to the United States. Kwon’s extradition follows the exhaustion of his appeals options. Montenegro’s Justice Minister signed the extradition on Friday, December 27. Meanwhile, spot crypto ETFs in the US recorded inflows to stem a streak of outflows. On Thursday, spot Bitcoin ETFs registered $475 million in inflows and ETH ETFs saw $117 million in net inflows. Related news is that Bitwise has filed for an ETF that will track companies with 1,000+ BTC in their Bitcoin treasury. In other news, Sonic passed the Aave temp check to bring the project a step closer to the proposed Aave integration. XRP meme coin PHNIX listed on MEXC, the first major CEX to list the XRPL meme coin. Invezz highlighted that Bitget unveiled a new whitepaper and introduced a 40% BGB burn. The exchange will have quarterly burns of the native token, whose price soared on the day, starting in 2025. BGB price spiked amid the news. According to Cyvers, “pig butchering” scams saw crypto holders lose more than $3.6 billion in 2024. Other top news includes new initiatives for Injective and Jupiter projects. Top gainers On Dec. 27, several altcoins ranked among the top-performing coins in the 100 largest cryptocurrencies by market cap list. These included Virtuals Protocol (VIRTUAL), dydx (DYDX), Lido DAO (LDO) and Bitget Token (BGB). Market data showed the altcoins were up between 8% and 18% in 24 hours at the time of writing. Dogecoin signalled an upside potential amid whale activity . Top losers Pudgy Penguins (PENGU), Zcash (ZEC), XDC Network (XDC) and FTX Token (FTT) were the top underperformers in the past 24 hours as of writing. PENGU was down more than 12%, ZEC 8% and XDC and FTT both -7%. The global market capitalization stands at $3.27 trillion, down 1.31% in the past 24 hours as daily global volume slumps to $130 billion. Per data from CoinMarketCap, the BTC dominance is 57% and Ethereum dominance is 12.3%. Meanwhile, the crypto fear & greed index , a metric that gauges market sentiment, is at 54. This signals neutral sentiment, with bulls and bears both eyeing decisive moves. The post Crypto wrap Dec. 27: LDO, DYDX lead gains as PENGU, ZEC decline appeared first on Invezz