The crypto market is undergoing rapid changes, thanks to big names like Ethereum making massive modifications. The SEC recently approved two major Spot Ethereum ETFs in the US for trading, putting crypto in the limelight.
In the meantime, Bitcoin has managed to reclaim its $65,000 mark. In the current market outlook, XRP, Solana, and some other prevalent altcoins are also following the industry leaders.
However, it is the memecoins that are truly ruling the industry. On the trending chart, it is evident that investors are opting for short-term gains in the market. That is why coins like STRUMP, PEIPEI, ENA, etc. are securing double-figure surges.
Let’s take a quick look at the daily crypto updates for the day:
Bitcoin
Bitcoin, the biggest crypto in the market, is currently nearing the $65,000 mark. As of the time of writing, BTC is trading at $64,754, with a 0.92% dip in the past 24 hours.
However, in the past week alone, the crypto has gained 11.38% value.
Bitcoin surge is also attributed to Trump’s strong reaction to an assassination attempt, which sparked speculation about his improved chances of winning this presidential election.
The government induced this push by selling its BTC holdings to various exchanges. Now, investors are leveraging the dip caused by increased inflows from ETFs and other sources.
XRP
XRP, or Ripple, is still ranking among the top-performing altcoins despite its ongoing legal battle with the SEC. The crypto is stably trading at the $0.5 mark, currently placed at $0.5807.
In the past 7 days, Ripple has gained a whopping 30.48% value, while it has lost 4.86% value in the past 24 hours. The push was driven by speculation about XRP’s settlement. Unconfirmed rumours caused Ripple to lose a significant portion of its bloated value.
Ethereum
The second-biggest crypto in the world made huge strides after getting two ETFs approved by the SEC. Ethereum is trailing around the $3,500 mark, with a minor 1.47% dip in the past 24 hours.
But in the past week, Ethereum managed to secure 10.27% of its market value. Now that the ETH ETFs are entering the US financial circuit, experts are expecting a major turnaround, pushing Ethereum toward its all-time high.
Memecoins
Super Trump Coin
Super Trump Coin has been among the top-performing memecoins for the past seven days. In the past week, the meme token has gained 61.47% value, with a 0.72% surge in the past 24 hours.
The coin is currently trading at $0.01496, primarily due to the prominence of its affiliated politician in the news. Given the coin’s sheer bloated nature, only short-term investors are leaning towards STRUMP.
Notcoin
NOT has also maintained a stable stance in the past week, a feat most memecoins cannot achieve. The meme token has lost 0.40% value in the past 7 days, while its 24-hour dip has been noted at 4.91%.
Currently trading at $0.01591, NOT is showing commendable resilience against its popular contemporaries.
PeiPei
PEIPEI is yet another emerging meme token that is gaining prevalence in the market. The coin has gained 26.07% in value in the past week, while its daily growth is noted at 14.23%.
Currently trading at $0.0000003662, PEIPEI looks like a prime target for short-term investors looking for a quick profit.
Conclusion
All this considered, memecoins are all the rage right now, and the entire crypto industry is moving in lockstep with Ethereum and Bitcoin.
Disclaimer: The article is only a piece of reference with no intention to serve as investment advice or recommendation.