🚀 LDO, ENS, and Other Ethereum-Related Tokens Soar After Positive News on ETH-SEC Front
Bitcoin’s price actions were quite painful yesterday as the asset dumped twice to a monthly low of $64,000 before it managed to recover some ground.
Several altcoins have bounced off following yesterday’s market-wide crash, especially those with some sort of connection to the Ethereum ecosystem.
🔸 ETH, ENS, LDO on the Rebound
Perhaps the biggest news in the crypto industry today came from ConsenSys as the company announced on X that the US Securities and Exchange Commission has notified it “that it is closing its investigation into Ethereum 2.0.” The development, which ConsenSys labeled as a “major win for Ethereum developers,” resulted in immediate gains for most ETH-related tokens.
Lido DAO’s native coin has skyrocketed by more than 15% on a daily scale to just over $2.3. ENS has soared by 13.5% and now trades above $26.
ETH is also slightly in the green but in a more modest fashion. The second-largest crypto has jumped by about 3% daily, and sits close to $3,550.
Other larger-cap alts with notable increases today include PEPE (8%), HBAR (5%), FET (8.5%), RNDR (8%), ADA (3%), LINK (4%), UNI (5%), and MATIC (3.5%).
In contrast, TON has slumped by 6% in the past 24 hours and now sits under $6.9.
🔸 BTC Bounces Above $65K
Perhaps fueled by the growing outflows from the US-based spot Bitcoin ETFs, the underlying asset’s price has lost a lot of traction since last week when it skyrocketed to $70,000 on a few occasions.
Its inability to rise above that psychological resistance resulted in immediate pain for the bulls. The weekend was less volatile as BTC remained at just over $66,000 before it was stopped at $67,000 on Monday.
The rejections led to more pain, and bitcoin fell to a monthly low of $64,000 twice yesterday. Nevertheless, it has regained over a grand since then and now sits inches above $65,000.
Its market cap has declined to $1.285 trillion, while its dominance over the alts has shrunk to 51.5%
