🌎 Top Cryptocurrencies Surge as Ethereum ETF Approval Likelihood Increases

Today’s top-performing coins have surged as the likelihood of Ethereum ETF approval increased from 25% to 75% after Fidelity updated its filings while Nasdaq and CBOE requested updates.

Leading the pack, PEPE has hit a new all-time high of $0.00001271, up 30% on Tuesday. Its trading volume has skyrocketed by 411%, and its market cap is slightly over $5 billion, placing it among the top 25 cryptocurrencies. Investor Jameson explained on X that PEPE is seeking a price increase similar to the 2021 DOGE pump.

Lido DAO (LDO) is the second top gainer, with trading volume up 483.24%, and a 24-hour volume exceeding $505 million. The price of LIDO has risen roughly 40%, reaching $2.37. Lido DAO is the top staking option for the Ethereum ecosystem, where investors can stake ETH and receive stETH.

BONK has surged by 24.56% in the last 24 hours to trade at $0.000034174. This gain reflects a broader uptrend in the meme coin sector, with its market capitalization increasing by 24.57% to $2.03 billion. Bonk’s trading volume soared by 289.62% to $1.35 billion, emphasizing its growing market activity. BONK is unique among the top gainers as it is a Solana meme coin.

Arbitrum (ARB) has risen 23% in price to $1.21 in the past 24 hours. It now ranks 37th in market cap, also up 23% to just below $3.2 billion. Black Sheep Crypto Trading, a well-known cryptocurrency analyst on X, recently analyzed a chart of ARB and suggested $0.99 as an optimal entry point for a long position, with subsequent targets at $1.27 and $1.42. The analyst also pointed out that intraday traders might look to enter long positions at $1.04, especially if Bitcoin experiences a leverage flush.

Lastly, Uniswap (UNI) has seen a price jump of over 21% on Tuesday, pushing its value to $9.34 with a market cap of $5.6 billion. Additionally, the trading volume is up by 182.08%, totaling $418.5 million. Uniswap is the top decentralized exchange on the Ethereum network, facilitating the trade of meme coins and other cryptocurrencies. In April, the U.S. SEC served Uniswap with a Wells notice warning of an impending enforcement action, which doesn’t scare traders and investors away.