Markets
Uniswap (UNI) Skyrockets 20% Daily, Pepe (PEPE) Hits New All-Time High (Market Watch)
The Bitcoin price has seen increased price fluctuations over the past few days, falling below $66,500 before climbing to just over $69,000 last night.
Altcoins are also slightly in the green on a daily scale. UNI took center stage with a massive 20% surge that propelled it to over $10, while PEPE hit a new high.
PEPE The new ATH and UNI soar
The biggest news in the cryptocurrency sector this week came from the United States Securities and Exchange Commission and primarily affected ETH. The regulator approved eight Ethereum spot ETFs on Thursday, which, alongside hype around the news, propelled a massive rally for the underlying asset. ETH rose from $3,100 on Monday to over $3,900 mid-week before edging back to its current position of $3,750.
Several other altcoins saw substantial gains during the week, and PEPE emerged like one of them. The popular meme coin has exploded by another 12% over the past day and hit another all-time high of $0.00001538 a few hours ago.
Uniswap’s native token is the other stunning winner today. UNI has climbed 20% and is now trading near $11. XRP, DOGE, TON, SHIB, DOT, IMX and NEAR are also well in the green.
The total crypto market cap has reclaimed over $60 billion since yesterday and now stands at almost $2.7 trillion on CG.
Cryptocurrency market overview. Source: QuantifyCrypto
BTC targets $69,000
The price of the leading cryptocurrency was also affected by the Ethereum ETF news. The asset rose from $67,000 to a multi-week high of $72,000 on Monday and Tuesday before retracing sharply in the following days.
The largest price drop occurred on Thursday, just hours before the US SEC announced its decision, and took BTC south to below $66,500. However, the asset rebounded, I felt other fluctuations in the following hours, and began heading north yesterday evening.
This resulted in a price rise to just over $69,200 in the middle of the positive inputs towards spot ETFs. Still, the bears picked up the pace at this point and did not allow further increases. For now, bitcoin is trading just below $69,000.
Its market capitalization has increased to $1.35 trillion, while its dominance over alts still remains at 50.2%.
Bitcoin/Price/Chart 05/25/2024. Source: TradingView SPECIAL OFFER (Sponsored)
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