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ETH ecosystem coins boom amid possible Ethereum ETF approvals
Today’s top-performing coins rose as the Ethereum ETF approval probability increased from 25% to 75% after Fidelity updated its filings while Nasdaq and CBOE requested updates.
Leading the pack, PEPE reached a new all-time high of $0.00001271, up 30% on Tuesday. Its trading volume has soared 411% and its market cap is slightly over $5 billion, placing it among the top 25 cryptocurrencies. Jameson Investor explained in X that PEPE seeks a price increase similar to the DOGE 2021 pump.
Read DAO (I MAKE) is the second biggest gainer, with trading volume increasing 483.24% and 24-hour volume exceeding $505 million. The price of LIDO rose around 40% to reach $2.37. Lido DAO is the best staking option for the Ethereum ecosystem, where investors can stake ETH and receive stETH.
BONADO rose 24.56% in the last 24 hours, trading at US$0.000034174. This gain reflects a broader bullish trend in the meme coin sector, with its market capitalization increasing 24.57% to $2.03 billion. Bonk’s turnover increased by 289.62% to US$1.35 billion, highlighting its growing activity in the market.
BONK is unique among the biggest gainers as it is a Solana (SUN) meme coin.
Arbitration (BRA) increased in price by 23% to $1.21 in the last 24 hours. It now ranks 37th in market value, also with a 23% increase, to just under US$3.2 billion. Black Sheep Crypto Trading, a well-known cryptocurrency analyst on X, recently analyzed an ARB chart and suggested $0.99 as the ideal entry point for a long position, with subsequent targets at $1.27 and $1.42.
The analyst also pointed out that intraday traders may try to enter long positions at $1.04, especially if Bitcoin (Bitcoin) experiences a flow of leverage.
Lastly, Uniswap (UNI) saw a price jump of over 21% on Tuesday, bringing its value to $9.34, with a market cap of $5.6 billion. Furthermore, turnover increased by 182.08%, totaling US$418.5 million. Uniswap is the
main decentralized exchange on the Ethereum network, facilitating the trading of meme coins and other cryptocurrencies. In April, the US SEC served Uniswap with notice from Wells warning of imminent enforcement action, which does not scare traders and investors.
