The cryptocurrency market saw a significant surge on December 16, with Bitcoin (BTC) hovering around $105K at press time.
Earlier, BTC had reached an all-time high of $106,400.
The broader market followed suit, as major altcoins including Ethereum (ETH), XRP, and Solana (SOL) continued to post gains.
Fantom (FTM) led the rally with a notable 17% surge, while Stax (STX) climbed 15%.
Total cryptocurrency market cap rose 3% to $3.74 trillion, while 24-hour trading volume increased 20% to $147 billion.
The Fear and Greed Index reached 80, indicating extreme optimism among investors.
Source: coinmarketcap
Bitcoin price reaches new ATH
Bitcoin (BTC) crossed the $106K mark and reached a new all-time high.
At the time of writing, the leading cryptocurrency was trading at $104,660, up 3% in the past 24 hours.
Its market cap is now $2.08 trillion, with a 24-hour trading volume of $60 billion.
ETF inflows of $2.17 billion last week underlined the continued institutional interest in BTC.
Ethereum (ETH) price increased by 3%
Ethereum (ETH) moved closer to the $4,000 milestone, trading at $3,984, up 3% from the previous day.
ETH’s 24-hour trading volume reached $30 billion, with a market cap of $481 billion.
Institutional demand remains strong, as ETH ETFs recorded inflows of $854 million last week, the highest in recent months.
Altcoin highlights
- xrp:XRP traded 1% higher at $2.40, with a market capitalization of $138 billion. Excitement is growing over reports of a potential XRP ETF.
- Solana (SOL): SOL rose 1%, trading at $222, with a 24-hour high of $227. It has a market cap of $106 billion, maintaining its position as the 5th largest cryptocurrency.
- Phantom (FTM): The day’s top performer, FTM, rose 17% to $1.44 on strong trading momentum.
- Stack (STX): STX is trading up 15% at $2.55, indicating strong bullish sentiment.
- Ethereum Name Service (ENS): ENS jumped 13% to trade at $49.45 due to increased demand for decentralized domain services.
Source: coinmarketcap
meme coin update
Meme coins followed the market trend, with Dogecoin (DOGE) rising 3% to $0.40, and Shiba Inu (SHIB) up 2% to trade at $0.00002767.
Smaller meme tokens like PEPE and FLOKI recorded slight gains of between 1% and 2%.
Despite a 32% weekly rally, Aave (AAVE) was the biggest loser of the day, falling 3% to $366.
The decline came amid minor market fluctuations on the hourly charts.
While Bitcoin and major altcoins show bullish momentum, a slight dip in the hourly charts suggests profit-taking activity.
The crypto market remains resilient, with positive trends dominating the day.
Stay tuned for more updates as the crypto market continues to evolve.
Post Crypto Snapshot, December 16: Bitcoin reaches $106K, Fantom rises 17%, Stax rises 15%, Ethereum approaches $4K first appeared on Invez
