Biggest Movers: ETC Moves Away From Multi-Month Lows, as XMR Extends Recent Gains

Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.

Timeline of Ethereum-classic, Monero

Multiple investors face problems making withdrawals in their Monero (XMR) wallet in Binance, prompting a public outcry on Reddit.  XMR withdraws worries An agitated customer, identified as WhatJay, posted a screenshot showing XMR withdrawal suspension.

Bitcoin stayed afloat above the $16.6k mark after sinking to $16.2k on Monday (19 December). The sentiment across the market has been bearish in recent days, and it was likely to continue over the week.

It was a red week for the S&P 500 which fell 6.4% from Tuesday's (13 December) open at 4092 to a low of 3829 on Friday (16 December). This began to hurt Bitcoin on Wednesday (14 December) when BTC tested the $18.2k level as resistance.

Ethereum Classic [ETC] attempted a rally but faced massive opposition from the bears. After flipping the critical support around the $18 mark into resistance, ETC broke additional supports as bears took control of the market.

Ethereum Classic sees sharp drop in market cap suggesting an increase in sell pressure ETC investor sentiment saw a change and favored the coin at the time of writing Ethereum Classic [ETC] retested its short-term descending resistance line last week. The price delivered a sideways performance rather than a bearish retracement or a bullish breakout.

XMR endured the market collapse, putting up an impressive performance in the last thirty days Traders' interest was unusually high with a possibility of sustenance At a time where a bunch of crypto projects have been struggling for survival, Monero [XMR] seemed to have found stability.

Ethereum Classic whales are back, but momentum is off to a slow start Ethereum Classic [ETC] briefly joined the list of the market's top gainers in the last 24 hours. Many altcoins have found favor with the bulls this week, with quite a few enjoying a bit of an upside too.

 Monero recorded decreases in its social volume and dominance, leading to a shrink in trading volume The decline, however, did not stop XMR from showing signs of leaving the bearish zone Privacy-focused cryptocurrency Monero [XMR] faced investor concern recently as its social metrics decreased.

Unus sed leo was a notable gainer on Thursday, as the token surged towards a one-week high. The move comes as crypto markets seem to have settled, a week on from the turbulence caused by the FTX collapse. Monero also rallied, climbing above the $130 level.

Ethereum Classic (CRYPTO: ETC) was sliding about 3% lower during Wednesday's 24-hour trading session amid cascading fears stemming from the FTX fallout. The lending division of crypto investment bank Genesis Global Trading temporarily halted redemptions and the initiation of new loans Wednesday due to “extreme market dislocation and loss of industry confidence caused by the FTX implosion," DCG vice president Amanda Cowie said.