Best Cryptocurrencies to Buy Today, December 16 – Ethereum, XRP, Fantom
Highlights:
- The recurring ‘Golden Cross’ pattern on Ethereum signals an upcoming strong growth.
- XRP’s integration with stablecoins could increase XRP’s market utility.
- Fantom’s Sonic L1 mainnet intends to achieve high transaction efficiency.
The crypto market has kicked off the week on a bullish note following Bitcoin’s historic rally over the weekend. Bitcoin achieved a new all-time high, surging above the $106k mark and leading to a broad market rally.
In addition, the overall crypto market cap has climbed to $3.69 trillion, recording an increase of 1.86% in the past 24 hours. Moreover, the 24-hour trading volume is at $163 billion, displaying a gain of 27%, indicating a heightened market activity.
As the bullish momentum prevails, let’s take a look at the best cryptocurrencies to buy today such as Ethereum, XRP and Fantom.
Best Cryptocurrencies to Buy
1. Ethereum (ETH)
The largest altcoin, Ethereum is trading at 3,946 up by 2.14% in the past 24 hours. The bullish momentum has seen ETH surge above the key level of $4k despite facing a pullback. Moreover, the market cap and trading volume have surged to $476 billion and $30 billion, respectively.
Crypto analysts CryptosR recently highlighted a big event for Ethereum, pointing to a ‘Golden Cross’ on its weekly chart. Such a pattern hasn’t been seen since 2021 when ETH jumped by 200% in 10 weeks.
🚨 Ethereum Golden Cross!!
The last time $ETH showed a Golden Cross on the weekly was in 2021 right before it surged up 200% in less than 10 weeks
Will we see history repeat? 👀
Source: Washigorira pic.twitter.com/pqX1fe9E2Q
— CryptosRus (@CryptosR_Us) December 15, 2024
Currently, as this technical indicator appears again, it positions Ethereum as one of the best cryptocurrencies to buy, suggesting potential for substantial growth. This pattern indicates another potential opportunity for Ethereum, following past patterns.
2. XRP
XRP has had a remarkable journey in December rallying to $2.90 following the broad market rally. Currently, XRP is trading at $2.38 down by 1.30% in the past 24 hours. Despite the bearish setback, XRP is up by 130% on the monthly chart. Its market cap and trading volume stand at $136 billion and $6.57 billion, respectively.
According to Axelar co-founder Georgios Vlachos, Ripple’s new RLUSD stablecoin will see a boom in demand for XRP by 2025. This projection depends on Axelar, the bridge that connects XRP Ledger to its EVM sidechain and 69 other blockchains. In addition, stablecoins are the most important transaction tools and value store in emerging markets, Vlachos said.
XRP recently dipped to $2.40 after a historic rally in November 2024, fueled by political factors and new developments within its ecosystem. Georgios Vlachos, co-founder of the Axelar open-source interoperability platform—which serves as the primary bridge connecting the XRP… pic.twitter.com/NUOWRDorSY
— Levi | Crypto Crusaders (@LeviRietveld) December 15, 2024
Moreover, he noted that RLUSD transactions would settle mainly on the XRP Ledger and XRP-EVM sidechain. Gas fees are paid in XRP, helping holders as some XRP is burned with each transaction. Such dynamics might position XRP among the best cryptocurrencies to buy due to the increase in demand and utility.
3. Fantom (FTM)
Fantom has shown an impressive rally recently surging above the $1 key level. Currently, Fantom is exchanging hands at $1.357 up by 9.50% in the past 24 hours. Fantom has surged by 10% and 85% on the weekly and monthly charts, respectively. In addition, its market cap and trading volume have climbed to $3.82 billion and $808 million, respectively.
Fantom is set to roll out its Sonic L1 mainnet, a big step up the network’s efficiency and cost efficiency. This new system will provide the ability to support 10,000 transactions per second with almost immediate finality. Additionally, it promises a 66% cut in validator node expenses and reduced storage requirements.
Things we're excited for on #Sonic:
💥 10,000 TPS
⏱️ Sub-Second Finality
💰 Fee Monetization
✨ $FTM to $S Upgrade
🌌 Sonic Gateway
🪂 ~200M $S Airdrop— Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) December 15, 2024
It will remain EVM compatible, thereby guaranteeing a smooth path to Sonic for EVM-based applications. Furthermore, Fantom will further enhance these technical advances by bringing in a new token, referred to as ‘S’, that will replace the existing Fantom token at a 1:1 ratio.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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