(22 May 2024, 11:22 AM IST)
On Wednesday morning, the cryptocurrency market appears to be taking a breather after a significant rally over the past 48 hours. This surge has been largely driven by positive news from the U.S. Securities and Exchange Commission (SEC) regarding the approval of an Ethereum Spot ETF. This development has fueled bullish sentiment across the market, pushing Bitcoin and Ethereum prices to new heights.
As of now, Bitcoin (BTC) is trading at $69,778, experiencing a slight drop of 1.70% in the last 24 hours. Despite this minor decline, Bitcoin’s market capitalization remains robust at $1.38 trillion. Meanwhile, Ethereum (ETH) has surged by 2.97% over the past 24 hours, bringing its price to $3,758 and its market cap to $451 billion.
Pepecoin, Floki Inu, and Dogecoin on the Rise:
Several memecoins have also seen impressive gains amidst the overall market enthusiasm:
- Pepecoin (PEPE): The price of Pepecoin has skyrocketed by 22.44% in the last 24 hours, reaching $0.00001356. This significant increase has boosted PEPE’s market cap to an impressive $5.72 billion.
- Floki Inu (FLOKI): Floki Inu has also benefited from the optimistic market mood. Its price has risen by 10.58% to $0.0002353, elevating its market cap to $2.25 billion.
- Dogecoin (DOGE): Dogecoin has enjoyed substantial gains as well, with its price surging by 3.24% to $0.1682. Dogecoin’s market cap now stands at $24.29 billion.
This recent wave of gains highlights the dynamic nature of the cryptocurrency market, where positive news can quickly ignite substantial price movements across various crypto tokens.