Key Facts: The possibility of ether (ETH) ETFs being approved is high. The cryptocurrencies leading the rise, in percentage terms, are WIF and BOME. The cryptocurrency market is waiting for spot ETFs for ether (ETH), Ethereum's native cryptocurrency, so now more than 100 crypto assets are on the rise. The reason that has led cryptocurrencies to rise in price is found on the high probability that ether funds will be approved in the United States between today and tomorrow. So far, companies that intend to launch Ethereum ETFs are making amendments to their respective requests. In the case of Fidelity, it introduced a change to eliminate the exposure it intended to have of part of its assets to staking. BlackRock, the world's largest asset manager, did the same in its request during the current day. Staking is the act of leaving cryptocurrencies deposited for a certain period in a smart contract in exchange for rewards. Other applicant companies, such as VanEck and Franklin Templeton, have been added to the Depository Trust and Clearing Corporation (DTCC) list. The DTCC is a US entity that provides clearing and settlement services for transactions with financial securities. The presence of a financial instrument there It is a step that allows your issuer to be ready to start trading once you receive approval from the SEC., according to what BitcoinDynamic reported. Additionally, ether-based funding requests are also important because the United States Securities and Exchange Commission (SEC) has not decided to classify the cryptocurrency as a security or not. In the event that the fund receives approval, it could be opening the door for ether to be defined as a commodity, in the same way that happens with bitcoin, which could change the entire landscape for the rest of the cryptocurrencies.
Memecoins lead the list of assets with the highest price rise
At the time of publishing this article, all volatile cryptocurrencies in the top 100 by market capitalization are up on price trackers like CoinMarketCap. In the following image the top 10 cryptocurrencies are shown and tokens with the highest percentage increase in the last 24 hours.
Top 10 cryptocurrencies by market capitalization on the rise. Source: CoinMarketCap. They stand out among the assets with the greatest increase percentage cryptocurrencies meme or memecoins. The Dogwifhat token (WIF) leads the list with a price increase, gaining 14% in 24 hours and standing at $3.10. It is followed by a memecoin called BOOK OF MEME (BOME) with an increase of 12%, bringing its price to $0.013. PEPE, whose image is inspired by the popular frog of the same name, marks a price of 0.000001336 with an increase of 4%. In the top 10 too there is a presence of cryptocurrencies in the artificial intelligence niche as Render (RNDR). This asset has a price of $11 and has risen 4% in the last 24 hours.