25/05 Market Recap: ETH ETF Approval Sparks Rally


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Recent excitement kicked off with the SEC’s approval of eight spot Ethereum ETFs. This sparked a surge in Ethereum’s price, which went from $3,100 on Monday to a high of over $3,900 mid-week, before steadying at around $3,750.

Bitcoin also witnessed a whirlwind of activity. It dipped under $66,500 but quickly rebounded to a peak of just over $69,000. Despite this rally, the price couldn’t sustain and saw a bit of a downturn, currently holding just below the $69,000 mark. Bitcoin’s market cap has swelled to $1.350 trillion, maintaining a dominance of 53.1% over other cryptocurrencies.

Among the standout performers, the meme coin PEPE continues to impress with consistent record-breaking highs. PEPE soared by around 10%, reaching an all-time high of $0.00001538 before retracing slightly. Not to be outdone, Uniswap’s (UNI) native token experienced a hefty 17% increase, now trading close to $11. CORE saw an amazing increase to record a 40%+ gain and currently sits at $2.33 after being added to the Coinbase Listing Roadmap.

Other coins have enjoyed a fruitful week as well. Tokens such as XRP, DOGE, TON, SHIB, DOT, IMX, and NEAR have all shown positive growth, contributing to the overall recovery of the crypto market. The total market capitalization has rebounded strongly, adding over $60 billion since yesterday and now stands close to $2.7 trillion. PAAL and Chainlink are the only notable losers on the day, with a 7% and 3.4% loss respectively.