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Stellar Lumens was one of the best-performing cryptocurrencies on Dec. 17 as it continued to mirror Ripple. Stellar Stellar $ADA 0.65% Stellar price rose by 10%, reaching an intraday high of $0.4713, up 32% from its lowest level this month. This rally coincided with the ongoing XRP price surge after the developers unveiled the RLUSD stablecoin. Ripple Labs expects its new stablecoin will soon see inflows and challenge Tether’s dominance. XLM and Ripple XRP xrp -0.48% XRP often move in sync because they are both focused on money transfer. Stellar’s goal is to promote peer-to-peer transfers of cash, while Ripple is mostly focused on institutions like banks and money transfer. Ripple and Stellar have a common origin as well. Jed McCaleb, Stellar’s founder, was one of the founding team of Ripple Labs. Therefore, Stellar often rallies when Ripple is rising. For example, Stellar rallied to a yearly high of $0.1963 in July 2023 when Ripple Labs won a major lawsuit against the Securities and Exchange Commission. Similarly, $ADA price jumped by almost 500% in November after Donald Trump won the election. His victory meant that the SEC may abandon his appeal against Ripple Labs when Paul Atkins starts his tenure. $ADA also jumped as Bitcoin continued its strong rally, moving above the crucial resistance at $107,000 for the first time ever. Altcoins often when Bitcoin is doing well. Stellar is also seeing strong fundamentals. For example, its most recent report showed that the number of addresses in the network rose to over 9 million. Also, the number of volume handled in its network soared to $4.9 billion. Stellar price analysis The daily chart shows that the $ADA price bottomed at $0.3535 earlier this month. It then formed a hammer pattern, a popular reversal sign characterized by a long shadow and a small body. Stellar has remained above the 50-day and 100-day moving averages. It has also formed a bullish engulfing chart pattern, which is characterized by a big bullish candle that covers a previous red candle. Therefore, Stellar will likely continue rising as bulls target the intermediate resistance point at $0.50, which is about 12% above the current level. The risk, however, is that the coin may have formed a bearish flag pattern, which may lead to more downside. Such a move would see it retest the support at $0.3535.

Cango (NYSE: CANG), a Shanghai-headquartered automotive transaction service platform, has acquired 32 EH/s of hashrate from Bitmain for $256 million as part of a Bitcoin mining pivot and has already reported the production of 393 BTC in November. Cango’s share price rose from…

Top Gainers & Losers: BGB led the top 100 cryptos with a 16.67% price spike to $3.81, followed by XLM, which rose 11.83% to $0.463. XRP took the spotlight, registering a 10.53% increase for the day. On the losing side, HNT price fell 8.08% to $8.99, followed by ENS, which sunk 6.76% to $44.07. VIRTUAL also slipped by 6.52% to $2.74.

Bitcoin rallied to a new all-time high on Monday as investors awaited an expected interest rate cut by the Federal Reserve later this week. The price of the flagship cryptocurrency was last higher by nearly 3% at $106,850.74, according to Coin Metrics. Earlier it rose as high as $107,229.38, a new record. Ether rose 1% to break through the key $4,000 level. The broader crypto market, as measured by the CoinDesk 20 index, traded 2.8% higher.Investors are expecting the Fed to lower interest rates this week during its two-day policy meeting, which will conclude Wednesday. The CME FedWatch Tool currently forecasts a 96% chance of a 25-basis-point cut. That would likely be positive for the price of bitcoin, which often trades like a tech stock and therefore benefits from lower interest rates. Lower interest rates also imply a weakening dollar and growing money supply, both of which have demonstrated long-term correlations with bitcoin. Bitcoin is now up 10% for the month, 54% since the U.S. presidential election and 151% for the year. The promise of a friendlier regulatory environment and potential establishment of a national strategic bitcoin reserve in the incoming Trump administration continues to be a positive catalyst for the digital asset and cryptocurrencies at large.

The crypto market today has been vibrant, with optimism among investors and traders, who helped Bitcoin shoot up to its new all-time high at $106k. Despite the numbers settling with time, the market cap of the industry is still up 0.03% at $3.64 trillion. Successively, the trading volumes rose by 33.07%, tallying to $172.75 billion. That being said, the bullish sentiments resulted in the Fear & Greed Index reflecting an “Extreme Greed” score of 80. Bitcoin continues to dominate headlines, posting a 1.14% gain in 24 hours to reach $103,856.35. Earlier today, Bitcoin touched a new ATH of $106,488.25, driven by robust trading activity, with its 24-hour volume surging by 58.03% to $67.04 billion. This milestone reflects growing optimism among investors amid heightened market activity. Bitcoin continues to be the center of attention, after claiming a new ATH of $106,488.25 earlier today. At the time of press, BTC is changing hands at $103,856.35 with intraday gains of 1.14%. The momentum is boosted by a spike of 58.03% in its trading volume. The star crypto claiming new peaks despite the short-term pullbacks reflects heightened positivity among market players.$BTC