Bitcoin and other cryptocurrencies got a shot in the arm after the US Securities and Exchange Commission (SEC) gave its blessing to spot Bitcoin exchange-traded funds (ETFs).
The federal regulator on Wednesday approved a long list of spot Bitcoin ETF applications—including that of the world’s biggest asset manager BlackRock, Grayscale, and Fidelity, among others.
The industry took the SEC’s nod as a major sign of encouragement, with all top 10 cryptocurrencies by market cap trading in the green in early trade on Thursday.
The OG cryptocurrency Bitcoin rose nearly 1% to $46,425 over the last 24 hours but BTC prices were still lagging behind the fresh 19-month highs it hit earlier this week. At press time, Bitcoin’s market cap stood at $904 billion while trading volumes jumped 33% to $51 billion over the last 24 hours.
Ethereum — the third largest crypto — got a rocket-fuel boost, surging 10% over the last 24 hours to $2,617. The market cap of Ether soared to $314.5 billion while trading volumes stood at $ 30.2 billion, up 80% over the last 24 hours.
Smaller tokens, or altcoins, followed a similar upward trend, with BNB and Solana rising more than 2% each. While Tether and USDC prices were flat, XRP price grew 6%, Cardano (ADA) price rallied over 12%, and Avalanche (AVAX) jumped nearly 14%.
Popular memecoins — Dogecoin and Shiba Inu — also climbed 6%, and 5.5%, respectively. The optimism was reflected in the global crypto market cap, which rose 3.5% to $1.77 trillion. The fear and greed index level stood at 74, indicating investors were bullish on crypto.
Top 3 Cryptos For Today
Pepe Price Rallies 11%
The price of Pepe Coin surged almost 16% over the last 24 hours to $0.000001389, sending its market cap soaring to $584.6 million. Its trading volume over the last 24 hours skyrocketed over 119% to $242.3 million.
Arbitrum (ARB) Price Jumps Nearly 21%
Arbitrum (ARB) price surged over 20% over the last 24 hours to $2.34, with its market cap climbing to $2.9 billion. Trading volumes in the past 24 hours jumped a staggering 81% to $2.6 billion. The token has appreciated over 104% in the last 30 days, indicating rising interest in the altcoin.
Lido DAO (LDO) Price Falls 2.5%
Lido DAO (LDO) price fell over 2.5% over the last 24 hours to $3.72, sending its market cap tumbling to $3.2 billion. However, trading volumes in the past 24 hours rose over 10% to $387.4 million. The altcoin has surged over 16% in the last seven days and is up 63% over the last 30 days.
Also Read: Elon Musk Says Open To The Idea Of Using Bitcoin
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
