Altcoins update ATH: BGB, GT and EIGEN winners of the day
Exchange tokens break records
Following Bitcoin, some Top 100 altcoins reach new All-Time Highs on December 17
A strong bullish impulse drove the native token of crypto exchange Bitget (BGB) up 18% to $3.98, marking its all-time high (ATH).
Over the past week, BGB surged 42%, according to CoinMarketCap, reflecting increasing demand for crypto derivatives trading facilitated by Bitget's parent exchange.
Currently, Bitget has attracted 45 million traders, with its trading volume reaching approximately $42 billion.
According to the platform, Bitget's network offers high scalability, ensuring it can handle large transaction volumes without congestion, and attracts users with discounts and innovative tools like Bitget Copy Trade.
At the time of writing, BGB traded at $3.90, but high trading activity suggests its ATH could soon be surpassed again.
The price of GateChain’s native token (GT) climbed by less than 5% over 24 hours but managed to set a record high, surpassing $14.
GateChain, developed by crypto exchange Gate.io, is designed to facilitate the transfer of digital assets. The network can process up to 2,745 transactions per second (TPS) with gas fees as low as $0.0001 per transaction.
Staking platforms remain in high demand
Amid the ongoing bull market, new staking platforms continue to gain strong user demand. During the Asian trading hours, the native token of the EigenLayer restaking protocol (EIGEN) hit an all-time high of $5.65 before retreating to $5.10 at the time of writing.
EigenLayer’s key feature is the ability to reuse staked tokens, offering users a variety of flexible strategies for additional rewards.Currently, the platform has attracted a total value locked (TVL) of approximately $18.3 billion.
DefiLlama data shows a sharp increase in EIGEN’s 24-hour trading volume, exceeding $1 billion. EigenLayer currently ranks 104th by market capitalization, but EIGEN has more than doubled in value over the past month and may soon return to the top 100.
Bitget, a leading cryptocurrency exchange, has introduced LaunchX, an innovative token distribution platform designed specifically for the Web3 community. LaunchX aims to enhance token issuance and distribution, supporting high-quality blockchain projects while enabling Web3 users to acquire tokens during their initial launch phase.
