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<h2 id="span-data-font-font-size-style-font-size-20px-the-cryptocurrencies-that-have-the-most-traction-in-the-last-24-hours-br-span">The cryptocurrencies that have the most traction in the last 24 hours </h2>
TOP 5 Trending Coins
<table class="table border text-center table-bordered data-table">
 <thead>
 <tr>
 <th class="border-0">Indices</th>
 <th class="border-0">LTP</th>
 <th class="border-0">Change (%)</th>
 </tr>
 </thead>
 <tbody>
 <tr>
 <td>Bonk</td>
 <td class="text-black">$0.00001298</td>
 <td class="text-success">14.22%</td>
 </tr>
 <tr>
 <td>Nerd Bot</td>
 <td class="text-black">$0.157</td>
 <td class="text-success">45.79%</td>
 </tr>
 <tr>
 <td>Solana</td>
 <td class="text-black">$70.32</td>
 <td class="text-success">1.14%</td>
 </tr>
 <tr>
 <td>Rainbow Token</td>
 <td class="text-black">$0.05298</td>
 <td class="text-success">2.66%</td>
 </tr>
 <tr>
 <td>Injective</td>
 <td class="text-black">$26.06</td>
 <td class="text-success">19.01%</td>
 </tr>
 </tbody>
</table>
<h3 id="span-span-data-font-font-size-style-font-size-18px-crypto-news-key-highlights-span-span">Crypto News Key Highlights:</h3>
<ul>
 <li>The Federal Reserve is expected to maintain its main rate for the third consecutive time, reaching the highest levels in two decades. Wall Street anticipates no change in rates at 5.25-5.50%, with a 77% chance of a rate cut in May 2024. Analysts express optimism for a "soft landing," balancing inflation reduction and preventing a recession. </li>
 <li>The US Consumer Price Index is projected to increase by 3.1% in November, slightly slower than October's 3.2% rise. Core CPI, excluding volatile items, is expected to remain at 4%. Monthly forecasts anticipate a 0.1% increase in CPI and a 0.3% rise in Core <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-crypto-feels-the-heat-awaits-cpi-fomc-reports" class="f-link" rel="noopener noreferrer nofollow">CPI</a>. Factors include declining oil prices and a 2.1% drop in used car prices. TD Securities analysts anticipate a rebound in core CPI to 0.3% month-on-month, with a balanced outlook for November. </li>
 <li>The Bank of England is anticipated to maintain its 5.25% interest rate amid signs of moderating UK inflation, offering relief. Governor Bailey is expected to emphasize the need for sustained restrictive monetary policy to achieve a 2% inflation target. Forecasted wage data suggests a slower pace compared to the previous month. </li>
 <li>The ECB is expected to maintain its 4.00% deposit rate, considering recent declines in euro area inflation and softer economic activity. Attention during the meeting will focus on the ECB's projections, especially changes to the 2025 inflation forecast and the 2% target. Possible rate cuts from June, or even April, hinge on evolving market conditions and alignment with the ECB's forecasts and communication. </li>
 <li>Switzerland's SNB is anticipated to maintain current monetary policy despite a recent drop in inflation to 1.4%, below the expected 1.7%. While concerns about inflation persist, rate cuts are unlikely this week. Citi analysts suggest the SNB may wait for other central banks to cut rates before making such a decision. </li>
 <li>Ark Invest, led by Cathie Wood, sold $12.8 million of Grayscale Bitcoin Trust (GBTC) shares during a market sell-off. The move also involved adjusting positions in Coinbase, selling $1.8 million worth of shares. Despite the sales, Coinbase remains a substantial part of Ark's ETF portfolios, representing over 11% of ARKK and ARKW and more than 13% of ARKF. </li>
 <li><a href="https://www.coingabbar.com/en/crypto-currency-news/volcano-energy-funds-dollar250m-for-el-salvadors-bitcoin-mining" class="f-link" rel="noopener noreferrer nofollow">El Salvador's </a> "Volcano Bonds," aiming to raise $1 billion for a Bitcoin mining industry powered by renewable energy, have received regulatory approval for issuance on Bitfinex Securities in early 2024. President Nayib Bukele confirmed the news, expressing enthusiasm for the country's Bitcoin initiatives, including the profitable Bitcoin investment and the "Freedom VISA" program. </li>
 <li>In the FTX bankruptcy case, lawyers challenge the IRS's $24 billion tax claim, seeking clarity on its basis. <a href="https://www.coingabbar.com/en/crypto-currency-news/sbf-found-guilty-on-7-charges-in-the-ftx-case" class="f-link" rel="noopener noreferrer nofollow">FTX</a> contests owing anything, highlighting historical losses and lack of dividends. The IRS's claim, if upheld, may impact creditor payouts. A critical hearing is scheduled for December 13. </li>
 <li>FIFA collaborates with Modex to launch an NFT collection for FIFA Club World Cup Saudi Arabia 2023™. The first drop, managed by Modex, releases 100 NFTs on December 15, offering a chance to win FIFA World Cup 26™ final tickets. The collection migrates from Algorand to Polygon blockchain. </li>
 <li>Circle reports stablecoins' global settlement value exceeding $7 trillion, rivaling Visa and Mastercard combined. Latin America plays a pivotal role in stablecoin adoption, with blockchain-based financial services gaining traction. Circle's USDC, with $4 billion daily transactions, aims to foster financial interoperability globally through compliant stablecoins and blockchain solutions. </li>
</ul>
Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-update-crypto-feels-the-heat-awaits-cpi-fomc-reports" class="f-link" rel="noopener noreferrer nofollow">24 Crypto Update, 11: Crypto Feels the Heat, Awaits CPI, FOMC Reports</a>

Crypto Daily Roundup, 12: U.S. Data Unleashes Waves of Market Tension

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