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Recent developments in spot Ethereum ETFs created a significant impact on the market. News of the process accelerating and expectations rising from 25% to 75% by key ETF analysts shifted attention back to cryptocurrencies. During this period, the Bitcoin price surged above $71,000. Which altcoins capitalized on this rise?
Pyth Network (PYTH) Rises
PYTH, one of the relatively new cryptocurrencies, tops Coinmarketcap’s list of biggest gainers. Despite recent declines, PYTH appears to be recovering quickly.
As of this writing, it is trading at $0.4934 after a 29.56% rise in the last 24 hours. The 7-day price movement for PYTH shows an 18.98% increase. However, the 30-day price movement indicates a 28% decrease.
PYTH’s market cap rose to $1.788 billion, ranking it 57th. Its 24-hour trading volume increased by 162%, reaching $694 million.
Lido DAO Price Update
Lido DAO was one of the day’s biggest gainers. LDO, one of the cryptocurrencies that best capitalized on the Ethereum and Bitcoin rise, is trading at $2.18 after a 27.47% increase in the last 24 hours.
LDO’s 7-day price movement shows a 32.91% increase. LDO’s market cap rose to $1.943 billion, ranking it 56th, just ahead of PYTH. Its 24-hour trading volume increased by nearly 300%, reaching $294.8 million.
BONK Coin Analysis
BONK, one of the top cryptocurrencies of last year and this March, made a significant impact in the last 24 hours. Solana‘s BONK is trading at $0.00003224 after a 25.24% rise in the last 24 hours. BONK‘s market cap rose above $2 billion, ranking it 53rd.
Following the SAGA phone airdrop last year, BONK’s 24-hour trading volume increased by 67%, reaching $901 million.
