The excitement surrounding Ethereum’s first spot ETF has sparked one of the most significant bull runs in the crypto market this year.
In the past 24 hours, several major cryptocurrencies such as $ETH, $UNI, $PEPE, $BONK, and $LDO have all surged more than 20%.
Bitcoin's Amid this broad market activity, the six-week jump to $71,400 has largely become an afterthought.
📈Around Hype #Ethereumfirst spot of #ETF It is a catalyst for one of the following #cipherTop 5 days of 2024. $ETH, $UNI, $PEPE, $ bonk& $LDO All over +20% within 24 hours. #bitcoinThe jump to $71,400 for the first time in six weeks was almost an afterthought. https://t.co/M1HK8sT5jw pic.twitter.com/fC9735hQ0e
— Santiment (@santimentfeed) May 21, 2024
Leading the way is $PEPE, which hit a new all-time high, rising over 22% to a high of $0.00001293. This surge is part of a broader trend fueled by excitement over Ethereum spot ETFs.
$PEPE Whale turns $83 into $79.4 million in long-term holdings
A notable success story in the $PEPE rally is a trader who turned just $83 into an amazing $79.4 million by buying and holding $PEPE, achieving a profit of 958,580x his initial investment. This individual leveraged his three wallets and spent just $0.041 of ETH (worth $83 at the time of purchase) as he accumulated $6.44 trillion in his PEPE tokens.
Remarkably, this trader has never sold any $PEPE tokens before, showing extraordinary faith and patience.
of $PEPE The price has reached an all-time high!
This diamond trader turned $8,300 into $79.4 million by buying and holding $PEPE958,580x profit!
Spent only 0.041 across 3 wallets (from the same person) $ETHBuy 6.44T for ($83) $PEPE($79.4 million), has never sold $PEPE up to now. pic.twitter.com/snuNUns3Io
— Pauly (@Pauly0x) May 21, 2024
The overall market reacted positively to the hype surrounding the Ethereum Spot ETF, with several altcoins experiencing significant gains. The price of Ethereum itself has increased significantly, increasing confidence in the market as a whole. Other cryptocurrencies such as $UNI, $BONK, and $LDO have also benefited from the bullish rally, each posting impressive gains over the past 24 hours.
This recent rally highlights the dynamic and rapidly evolving nature of the cryptocurrency market. The potential for further market expansion remains solid as institutional investor interest continues to grow, especially with developments like the Ethereum Spot ETF. For now, the focus remains on the continued performance of these top-performing cryptocurrencies and their broader impact on the market going forward.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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