Daily Market Review: ETH, PEPE, UNI, LDO, PENDLE

This week, meme coins have dominated as they appear among the week’s top gainers. This week’s pump can be attributed to the anticipated approval of Ethereum ETFs and the excitement surrounding it, which has since sparked renowned interest in cryptocurrency.

Ethereum Price Review

Ethereum (ETH) is among the gainers this week amid of the ETF approvals. As of press time, Ethereum, trading at $3,768, had seen a 21.2% pump from its previous seven-day price, as its market cap stood at $454B during the same period.

The Ethereum price pump is primarily attributed to the ETF approvals. As of Thursday, the SEC has to decide whether to approve the so-called 19b-4 applications filed by the CBOE exchange, which ask to list Ethereum spot ETFs from VanEck and Ark Investments in partnership with 21 Shares. Staff have been giving signs that they’re open to the idea of at least partially green-lighting these products.

BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It's really happening.

h/t @PhoenixTrades_ pic.twitter.com/KQ39mDyCbT

— James Seyffart (@JSeyff) May 23, 2024

Pepe Price Review

Pepe (PEPE) is among the gainers this week amid the ETF approvals. As of press time, Pepe, trading at $0.00001499, had seen a 59.9% pump from its previous seven-day price, as its market cap stood at $6.3B during the same period.

The Pepe price pump can be attributed to the excitement around the ETF approvals that have seen altcoins and meme coins specifically pump to new highs. Pepe and Grok specifically made significant gains over the period, placing it among the week’s top gainers.

Both $PEPE and #GROK printing 100% gains in the last month.

Only difference is that Grok will still do a 100X from here with our eyes closed.

I am personally holding till $10bn mc and higher this cycle. I know exactly what this meme coin is capable of doing. https://t.co/dwbJZBOF0A

— Peta₿yte (@PetaByteCapital) May 26, 2024

Uniswap Price Review

Uniswap (UNI) is among the gainers this week as evidenced by its price movements over the period. As of press time, Uniswap, trading at $11.39, had seen a 43.8% pump from its previous seven-day price, as its market cap stood at $6.8B during the same period.

The pump on the token can be attributed to a recent partnership by their firm. Uniswap Labs announced on May 20th that it was launching a new token standard known as ERC-7683. This may have sparked more enthusiasm in the token’s community.

Say hello to ERC-7683 ✨

In collaboration with @AcrossProtocol, this ERC proposes a new standard for cross-chain intents

Solving fragmentation through a universal filler network 👇 pic.twitter.com/2BB3BfawBd

— Uniswap Labs 🦄 (@Uniswap) May 20, 2024

Lido DAO Price Review

Lido DAO (LDO) is also among this week’s gainers, as seen from its price movements. As of press time, Lido DAO, trading at $2.45, had seen a 41.2% pump from its previous seven-day price, as its market cap stood at $2.19B during the same period.

Lido DAO’s price today can be attributed to enthusiasm building around a recent proposal by Lido Finance this week that might have brought renowned interest. The proposal is to onboard Mellow, a novel restacking primitive allowing for permissionless LRT creation based on unique risk profiles and curation models.

A proposal to onboard @mellowprotocol to the Lido Alliance has been published.

Mellow is a novel restaking primitive allowing for permissionless LRT creation, based on unique risk profiles and curation models 🔁

See the full Alliance proposal here: https://t.co/Yki7PSqWgx

— Lido (@LidoFinance) May 24, 2024

Pendle Price Review

Pendle (PENDLE) is among the gainers, as can be seen from its price movements today. As of press time, Pendle, trading at $6.82, had seen a 39.5% pump from its previous seven-day price, as its market cap stood at $1.04B during the same period.

Pendle’s price today can be attributed to the rswETH (Swell L2) yield on Pendle finance jumping to 60%. This, in addition to the airdrops of the Swell L2 Pre-Launch, has increased enthusiasm surrounding the token.

rswETH (Swell L2) yield on @Pendle_fi has jumped to 60%!

That's in addition to the airdrops of the Swell L2 Pre-Launch 🪂https://t.co/lyMnijpwEl pic.twitter.com/o1nYrrpUtz

— Swell (@swellnetworkio) May 24, 2024