Crypto snapshot, Dec 16: Bitcoin hits $106K, Fantom surges 17%, Stacks gains 15%, Ethereum nears $4K

The cryptocurrency market witnessed a significant upswing on December 16, with Bitcoin (BTC) hovering around $105K at press time. Earlier, BTC reached an all-time high of $106,400. The broader market followed suit, as major altcoins, including Ethereum (ETH), XRP, and Solana (SOL), recorded steady gains. Fantom (FTM) led the rally with a remarkable 17% surge, while Stacks (STX) climbed 15%. The total cryptocurrency market cap increased by 3%, reaching $3.74 trillion, while 24-hour trading volume surged 20% to $147 billion. The Fear and Greed Index hit 80, signaling extreme optimism among investors. Source: CoinMarketCap Bitcoin price reaches new ATH Bitcoin (BTC) surged past the $106K mark, setting a new historic high. At the time of writing, the flagship cryptocurrency was trading at $104, 660, up 3% in the last 24 hours. Its market cap now stands at $2.08 trillion, with a 24-hour trading volume of $60 billion. ETF inflows of $2.17 billion last week underscored the sustained institutional interest in BTC. Ethereum (ETH) price up 3% Ethereum (ETH) neared the $4,000 milestone, trading at $3,984, a 3% rise over the past day. ETH’s 24-hour trading volume hit $30 billion, with a market cap of $481 billion. Institutional demand remains robust, as ETH ETFs recorded $854 million in inflows last week, the highest in recent months. Altcoin highlights XRP : XRP traded at $2.40, up 1%, with a market cap of $138 billion. Excitement is building around reports of a potential XRP ETF. Solana (SOL) : SOL gained 1%, trading at $222, with a 24-hour high of $227. Its market cap stands at $106 billion, maintaining its position as the 5th largest cryptocurrency. Fantom (FTM) : The day’s top performer, FTM rose 17% to $1.44, with robust trading momentum. Stacks (STX) : STX gained 15%, trading at $2.55, showcasing strong bullish sentiment. Ethereum Name Service (ENS) : ENS jumped 13%, trading at $49.45, driven by 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) gaining 2% to trade at $0.00002767. Smaller meme tokens like PEPE and FLOKI recorded modest gains between 1% and 2%. Aave (AAVE) was the day’s biggest loser, dropping 3% to $366, despite a 32% weekly rally. This dip came amid slight market volatility in the hourly charts. While Bitcoin and major altcoins reflect 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. The post Crypto snapshot, Dec 16: Bitcoin hits $106K, Fantom surges 17%, Stacks gains 15%, Ethereum nears $4K appeared first on Invezz