In the realm of cryptocurrency, the top-performing coins are seeing significant gains as the chances of an Ethereum ETF approval have risen from 25% to 75%. This increase in likelihood came after Fidelity made updates to its filings, with Nasdaq and CBOE also seeking updates.
One of the leading coins in this surge is PEPE, which has reached a new all-time high of $0.00001271, marking a 30% increase on Tuesday. Its trading volume has shot up by 411%, and its market cap now stands at just over $5 billion, placing it among the top 25 cryptocurrencies. Investor Jameson noted on X that PEPE is aiming for a price surge similar to the 2021 DOGE pump.
Following closely behind is Lido DAO (LDO), the second top gainer, with trading volume up by 483.24% and a 24-hour volume surpassing $505 million. The price of LIDO has climbed by approximately 40%, reaching $2.37. Lido DAO is considered the top staking option for the Ethereum ecosystem, allowing investors to stake ETH and receive stETH.
BONK has also experienced a surge of 24.56% in the last 24 hours, now trading at $0.000034174. This increase reflects a broader trend in the meme coin sector, with its market capitalization growing by 24.57% to $2.03 billion. Bonk’s trading volume has seen a significant increase of 289.62% to $1.35 billion, highlighting the growing market interest in the coin.
A unique aspect of BONK among the top gainers is that it is a Solana (SOL) meme coin.
Arbitrum (ARB) has seen a price rise of 23% to $1.21 in the past 24 hours, now ranking 37th in market cap, which has also increased by 23% to just under $3.2 billion. Black Sheep Crypto Trading, a renowned cryptocurrency analyst on X, recently examined a chart of ARB and suggested an optimal entry point at $0.99 for a long position, with subsequent targets at $1.27 and $1.42.
The analyst also mentioned that intraday traders may consider entering long positions at $1.04, particularly if Bitcoin (BTC) undergoes a leverage flush.
Lastly, Uniswap (UNI) has witnessed a price surge of over 21% on Tuesday, pushing its value to $9.34 with a market cap of $5.6 billion. Additionally, trading volume has increased by 182.08%, totaling $418.5 million. Uniswap remains the top decentralized exchange on the Ethereum network, facilitating the trading of meme coins and other cryptocurrencies. Despite receiving a Wells notice from the U.S. SEC in April warning of impending enforcement action, traders and investors remain unfazed.
For more insights, one might consider whether now is the right time to invest in Bitcoin stocks as institutional adoption continues to rise.