Top Crypto Gainers Today, December 19 – Movement, Bitget Token, Ethena

Highlights:

• Bitget Token, Ethena, and Movement emerge as the top crypto gainers despite the bearish market trend.
• Despite the bearish trend, the increased trading activity suggests investor interest.
• Bitget Token and Ethena’s growth is fueled by strategic partnerships and regulatory compliance.

The crypto market continues to display a bearish outlook as most of the crypto prices trade in red following the Federal Reserve’s recent move to cut the interest rates by 25 basis points. The leading asset Bitcoin dropped below the $100k mark impacting the broad market and declining the total market cap to $3.54 trillion. 

However, the 24-hour trading volume surged by 30% to $262 billion, indicating an increased market activity. Despite the bearish sentiment, let’s take a look at the top crypto gainers today, such as Bitget Token, Movement, and Ethena

Top Crypto Gainers Today

1. Movement (MOVE)

Movement has shown a remarkable journey today, surging by 16% in the past 24 hours to break out of the consolidation phase. As of this writing, MOVE is trading at $0.765,8, with a gain of 10% in the past week. Moreover, the market cap and trading volume have climbed to $1.72 billion and $1 billion despite the bearish sentiment. 

According to crypto analyst Globe of Crypto, the MOVE token is showing signs of a bullish breakout on the 4-hour trading frame. As MOVE emerges as the top crypto gainer today, the analyst’s pattern suggests that MOVE could potentially increase by 40-50% within the next 7-10 days.

$MOVE

Breaking Bullish Pennant in 4HTF.

Successful breakout can see 40-50% Rising in a period of 7-10 days✍#MOVE pic.twitter.com/KdXPnHhjVu

— Globe Of Crypto (@GlobeOfcrypto1) December 19, 2024

2. Bitget Token (BGB)

Bitget Token, the native token of the leading exchange Bitget, has shown a remarkable journey today. BGB has surged by 4% in the past 24 hours, elevating the price to $4.57. The altcoin has surged by 40% and 250% on the weekly and monthly charts, respectively. Additionally, the market cap and trading volume have surged to $6.60 billion and $5.14 million, respectively. 

On December 11, Bitget announced that it is in the process of establishing its regional office in Lithuania. The move comes as the company tries to align with the Markets in Crypto-Assets (MiCA) regulations that are set to come into force in the European Union. 

Crypto exchange Bitget has announced that it is exploring the establishment of its Europe regional hub in Lithuania as part of its strategic expansion in the European Union. The company is preparing for compliance under the MiCA framework, including plans to set up an office and…

— Wu Blockchain (@WuBlockchain) December 11, 2024

MiCA is so far the only bill that is trying to set up a comprehensive set of rules for the conduct of crypto business across the whole EU. In addition, the expansion is in line with Bitget’s plan to expand its business in the European region. The exchange aims to set up an office in Lithuania and establish a team in charge of compliance and operations.

3. Ethena (ENA)

Ethena has broken above the descending channel after surging by 4% in the past 24 hours. As of this writing, ENA is trading at $1.13 recording 3% and 100% on the weekly and monthly charts, respectively. Its market cap is at $3.3 billion while the trading volume stands at $1.2 billion. 

Recently, Ethena Labs formed a partnership with one of Donald Trump’s projects, World Liberty Financial, increasing the liquidity of USDe and stimulating rewards on WLFI’s decentralized finance platforms. 

Ethena has entered into a strategic partnership with @worldlibertyfi

A governance proposal has been submitted to add sUSDe to WLFI's upcoming Aave instance as a core collateral asset pic.twitter.com/jgjd8QGWDS

— Ethena Labs (@ethena_labs) December 18, 2024

This is a proposal to peg Ethena’s sUSDe as key collateral on WLFI’s new Aave-based lending platform. This move serves as a major push behind Ethena’s price surge to join the top crypto gainers today.