Back to the list

Ethereum ETFs Get SEC Approval: AUDIO, ETHFI, ONDO, and PEPE Soar in the Crypto Market

source-logo  cryptonewsland.com 24 May 2024 10:17, UTC
  • Audius (AUDIO) surged by 55.8% in 24 hours, reaching $0.2561, driven by massive trading volume increases.
  • Ether.fi (ETHFI) saw a 10% rise to $4.71, with its market cap at $575 million and trading volume soaring.
  • Ondo (ONDO) climbed 7.9% to $1.07, with a market cap of $1.5 billion and significant trading volume growth.

The crypto market is buzzing with excitement as the SEC approved several Ethereum ETFs. This development comes amid theories that regulators may consider ETH security. Amid unexpected market fluctuations, these four cryptocurrencies experienced significant price increases. From AUDIO to the PEPE meme coin, there are specific reasons why these coins shine in the market today.

Audius (AUDIO)

The price of Audius (Audio) has surged by 55.8% within the past 24 hours, coming to $0.2561. Right now, Audius’ market cap is roughly $258 million, with an exchanging volume of $162 million—marking a momentous increment of 2268.65% inside the last day.

Audius is a decentralized music streaming protocol, at first built on the POA network and now operating on Solana. It was made to address the wasteful aspects within the music industry, especially the misty ownership of music rights and the mediators between

Ether.fi (ETHFI)

The price of Ether.fi (ETHFI) expanded by 10% within the past 24 hours, reaching $4.71. Ether.fi presently incorporates a market cap of around $575 million and a trading volume of $1.1 billion, reflecting an exceptional 277.64% surge within the last day.

In May, leading crypto exchange Coinbase gained notable traction with its recent announcement of three leading cryptocurrencies: AEVO, Ethena (ENA), and Ether.fi (ETHFI). In a move that has caught the attention of market players, Coinbase International Exchange has announced the launch of AEVO-PERP, ENA-PERP, and ETHFI-PERP markets.

Ondo (ONDO)

The price of Ondo (ONDO) rose 7.9% within 24 hours and touched $1.07. Ondo’s market capitalization stands at around $1.5 billion, with a trading volume of $347 million, registering a 114.12% surge within 24 hours.

In late March 2024, Ondo Finance announced that it was switching assets backing its OUSG token from the less popular short-term Treasury bond ETF to BlackRock’s BUIDL tokenized fund. The strict terms stop small investors from investing in BlackRock’s BUIDL but allow platforms like Ondo to leverage the funds for retail-facing offerings.

Pepe (PEPE)

PEPE was recorded to have increased by 11.91%, although it has now corrected to 3.5% and is currently touching $0.00001394. PEPE’s market cap stands at around $$6.34 billion, with a trading volume of $4.34 billion, which is up 38.98% in the last 24 hours.

Pepe’s accumulation of memecoin whales has once again shocked the cryptocurrency world. A whale 0x83768.., raised a staggering 390.56 billion PEPE from Binance on May 23. Additionally, in less than two days, the same addresses were recorded as having purchased a collective 982.56 billion PEPE, worth $13.6 million, echoing the frenzy amidst the meme coin’s continued upward momentum.

AUDIO, ETHFI, ONDO, and PEPE have promising futures in the crypto industry. Audius (AUDIO) is revolutionizing music streaming with its decentralized platform. Ether.fi (ETHFI) is growing due to major exchange listings and innovative products.

Ondo (ONDO) is enhancing investment opportunities through strategic asset switches. Despite being a memecoin, PEPE shows resilience and strong community support. These cryptos highlight the dynamic and evolving cryptocurrency space.