This week, meme coins have taken center stage as they emerge as some of the top gainers of the week. The surge in prices can be linked to the expected approval of Ethereum ETFs, generating a wave of excitement that has piqued significant interest in the world of cryptocurrency.
Ethereum Price Update
Ethereum (ETH) has experienced a boost in price this week following the approval of ETFs. Currently trading at $3,768, Ethereum has seen a remarkable 21.2% increase from its price over the past seven days, with its market cap reaching $454B during the same period.
The surge in Ethereum’s price is largely due to the approval of ETFs. The SEC is set to make a decision on Thursday regarding the 19b-4 applications submitted by the CBOE exchange, seeking to list Ethereum spot ETFs from VanEck and Ark Investments in partnership with 21 Shares. There have been indications from staff that these products may receive at least partial approval.
Pepe Price Update
Pepe (PEPE) has also seen a surge in price this week following the ETF approvals. Currently trading at $0.00001499, Pepe has recorded an impressive 59.9% increase from its price over the past seven days, with its market cap reaching $6.3B during the same period.
The rise in Pepe’s price can be attributed to the excitement surrounding the ETF approvals, which have led to significant gains in altcoins and meme coins. Pepe and Grok, in particular, have seen substantial increases, positioning them among the top gainers of the week.
Uniswap Price Update
Uniswap (UNI) has witnessed a price surge this week, reflecting its movements over the period. Currently trading at $11.39, Uniswap has experienced a remarkable 43.8% increase from its price over the past seven days, with its market cap reaching $6.8B during the same period.
The increase in the token’s price can be linked to a recent partnership announced by Uniswap Labs on May 20th, introducing a new token standard known as ERC-7683. This announcement may have further energized the token’s community.
Lido DAO Price Update
Lido DAO (LDO) has also emerged as one of the gainers this week, based on its price movements. Currently trading at $2.45, Lido DAO has seen a significant 41.2% increase from its price over the past seven days, with its market cap reaching $2.19B during the same period.
The rise in Lido DAO’s price can be attributed to the growing enthusiasm surrounding a recent proposal put forth by Lido Finance, which has garnered considerable interest. The proposal aims to onboard Mellow, a new restaking primitive that allows for permissionless LRT creation based on unique risk profiles and curation models.
Pendle Price Update
Pendle (PENDLE) has experienced a surge in price, evident from its movements today. Currently trading at $6.82, Pendle has recorded a notable 39.5% increase from its price over the past seven days, with its market cap reaching $1.04B during the same period.
The increase in Pendle’s price can be linked to the rswETH (Swell L2) yield on Pendle finance rising to 60%. This, combined with the airdrops of the Swell L2 Pre-Launch, has generated heightened enthusiasm surrounding the token.