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).

Bitcoin's bullish momentum continues to drive the crypto market higher, helping several top 100 altcoins reach new all-time highs on December 17.

The native token of crypto exchange Bitget (BGB) performed strongly, surging 18% to reach a new high of $3.98. Over the past week, BGB has seen a remarkable 42% increase in its value.

As the parent exchange of Bitget facilitates a high volume of crypto derivatives trading, the increasing demand for these services is likely contributing to the strong performance of BGB.

At present, Bitget boasts an impressive network of 45 million traders, and its trading volume reaches approximately $42 billion.

According to the platform, Bitget's network is highly scalable, enabling it to handle large transaction volumes without encountering congestion. Additionally, Bitget attracts users with various discounts and innovative tools, such as Bitget Copy Trade.

At the time of writing, BGB was trading at $3.90, but the high trading activity suggests that its all-time high may be surpassed again soon.

Meanwhile, the price of GateChain's native token (GT) experienced a minimal increase of less than 5% over 24 hours, yet it managed to set a record high, surpassing $14.

Developed by the crypto exchange Gate.io, GateChain is designed to facilitate the efficient 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.

On the other hand, staking platforms are continuing to attract high levels of demand.

During the Asian trading hours, the native token of the EigenLayer restaking protocol (EIGEN) reached an all-time high of $5.65 before dropping to $5.10 at the time of writing.

One of the key features of EigenLayer is its ability to reuse staked tokens, which provides users with a range of flexible strategies to earn additional rewards. Currently, the platform has managed to attract a total value locked (TVL) of approximately $18.3 billion.

According to DefiLlama, EIGEN's 24-hour trading volume also experienced a sharp increase, exceeding $1 billion. EigenLayer is currently ranked 104th by market capitalization, but EIGEN has more than doubled in value over the past month and may soon return to the top 100.

In other news, Bitget, a leading cryptocurrency exchange, has introduced LaunchX, an innovative token distribution platform that is specifically tailored for the Web3 community.

LaunchX aims to enhance the token issuance and distribution process, providing support for high-quality blockchain projects while enabling Web3 users to acquire tokens during their initial launch phase.