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Ethereum-based memecoins have made a significant price rally in the last 24 hours on speculation that a spot Ethereum ETF will be approved in the US. PEPE reached a new ATH, while FLOKI and SHIB also made significant gains. Still, investors are keen on the high volatility in memecoins. and should be careful about rapid price fluctuations.$ETH

The recent Bitcoin rally has attracted the attention of both experienced and novice investors. Amid global economic uncertainties, cryptocurrencies are increasingly seen as potential hedges against inflation. A leading crypto analyst said, “This rise is not just about market speculation; It is about the growing recognition of the role of digital currency in the modern financial landscape.” said. Bitcoin's latest price increase […]$BTC

Ethereum (ETH) futures have reached unprecedented popularity, driven by renewed optimism regarding the potential approval of spot ETH exchange-traded funds (ETFs) in the United States. Ethereum ETF Hopes Push Futures Open Interest to a Record of $14 Billion According to data from Coinglass, notional open interest, which represents the dollar value locked in active Ethereum futures contracts, rose by 25% in a single day.

Recently the Ethereum ecosystem has experienced a vibrant surge in prices of tokens such as PEPE coin, driven by renewed hope for Ethereum-based Exchange Traded Funds (ETFs) in the US. This positive sentiment is supported by Bloomberg analysts who increased the approval probabilities to a significant 75% and has caused shockwaves in the market, especially among meme coins. “The rise in meme coins is fueled by the growth of the underlying blockchain […]

Fidelity Investments updated its spot Ethereum ETF application to the SEC, stating that ETHs in the fund cannot be staked. Bloomberg analysts increased the possibility of spot Ethereum ETF approval to 75 percent following the SEC's request to update the exchanges' 19B-4 filings. SEC's May 23 VacEck is expected to announce its decision for the spot Ethereum ETF in . Market impact: Neutral

The U.S. dollar was steady in early Asian trading on Tuesday, while the yen showed weakness beyond the 156 level. Market action was limited as investors held on to expectations of possible Federal Reserve rate cuts later in the year. In cryptocurrency markets, ether led a significant rally on rising expectations of U.S. regulatory approval for spot ether exchange-traded funds (ETFs). The digital currency jumped more than 5% to $3,691.80, up nearly 14% from the previous session, marking its biggest daily percentage gain since November 2022.

With all major US indices (i.e. the S&P 500, NASDAQ Composite and Dow Jones Industrial Average) and the gold market reaching all-time highs, Bitcoin appears to be the only asset left behind.
The two graphs below may help explain what I mean. The Bitcoin/S&P 500 ratio has traded in a bearish consolidation for the best part of this year, while the S&P 500 has been in a relentless long-term uptrend.

Investors in Asia took a cautious stance today, amid expectations of possible interest rate adjustments, while waiting for information from the minutes of the Federal Reserve's latest policy meeting. Despite the downward movement of the overall market, Japan's Nikkei index managed to rise, driven by gains in technology stocks, especially chip stocks, following the strong performance of the Nasdaq in the US.

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