Ethereum (ETH) and Trending Meme Coin Top a Prestigious Ranking: Details
TL;DR
- Ethereums popularity surged after the US SEC closed a particular investigation related to the asset and Pantera Capital announced plans to invest $100 million in a spot ETH ETF.
- Other recently-trending cryptocurrencies include the Trump-themed DJT token, ENS, and Fetch.ai (FET), which saw a 30% price increase.
Attracting the Most Attention
The crypto market intelligence platform Santiment revealed that Ethereum (ETH) has witnessed the largest rise in trader interest lately.
The second-biggest cryptocurrency in terms of market capitalization could be trending due to the US SECs actions. Earlier this week, the regulator informed ConsenSys that it will close its investigation into Ethereum 2.0, meaning it will not pursue charges that the sales of ETH are securities transactions.
The closing of the Ethereum investigation is momentous, but its not a cure-all for the many blockchain developers, technology providers, and industry participants who have suffered under SECs unlawful and aggressive crypto enforcement regime, ConsenSys added.
Santiment explained that a reason behind Ethereums rising popularity could also be Pantera Capitals intention to purchase $100 million worth of the asset. The plan was revealed by Bloombergs James Seyffart who claimed the company will distribute the capital into Bitwises spot ETH ETF.
Another cryptocurrency capturing a huge chunk of trader interest is the new Donald Trump-themed token DJT. Initially, it was speculated that the former president of the United States would launch the asset, with his 18-year-old son, Barron Trump, spearheading the project.
Most recently, Martin Shkreli (an ex-convict who spent several years in prison for financial-related frauds) publicly announced his role in the creation of the meme coin.
The List Goes on
The other cryptocurrencies that have become increasingly trendy recently are GCR, ENS, PENDLE, XLM, WAMPL, ARKM, FET, and USDT.
Ethereum Name Service (ENS) could have gained additional interest from the news involving Americas securities regulator and ETH.
For its part, Fetch.ai experienced a daily price pump of around 30%. The rally of the AI-related cryptocurrency coincided with NVIDIAs success. As CryptoPotato reported, the tech giant became the largest company in terms of market capitalization (over $3.33 trillion), surpassing Microsoft ($3.31 trillion).
Another announcement that might have positively impacted FETs price is that Fetch.AI, Ocean Protocol, and SinguralityNET will merge their tokens. Binance is one of the leading cryptocurrency exchanges to support the initiative.
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