Memecoins
Ethereum ETF and FIT21 Get Green Light, PEPE Leads Meme Coins
As another week draws to a close in the cryptocurrency space, the market has been a hotbed of interesting developments. The long-awaited Ethereum spot ETFs received the green light from the US SEC (Securities and Exchange Commission), and the first major crypto bill, FIT21, was also approved this week. Demonstrating market volatility, Bitcoin, Ethereum, and other cryptocurrencies saw mixed price action. Meanwhile, Pepe coin (PEPE) has become a trending topic in the crypto community.
Here is a collection of some of the top headlines of the week, which appear to have sparked a wave of discussion within the global cryptocurrency community.
Spot Ethereum ETF Approved
Marking as a landmark event in the US crypto landscape, the SEC greenlighted 8 spot ETH ETFs via an omnibus order this week. These ETH ETF included VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise.
However, unlike the BTC price surge after the ETF approval, The price of ETH the stock witnessed some turbulence. This sparked a whirlwind of speculation about ETH price action to come.
FIT21 crypto bill gets clearance
Additionally, the United States House of Representatives passed the FIT21 (Financial Innovation and Technology for the 21st Century Act) bill this week, marking the first step toward a nationwide regulatory framework for digital assets. The Crypto Bill clarifies that digital assets sold under an investment contract do not necessarily classify the asset as a security solely because it is sold or transferred under that investment contract. investment.
This includes a potential game-changer for the sector Ripple against the US SEC’s lawsuit, while the broader community continues to speculate on the crypto bill’s impact on ETH’s status as a security lawsuit.
Also, XRP Whales has mixed up nearly 300 million coins amid this legal development.
Read also: 3 Dog-Themed Meme Coins to Buy Amid Dogecoin Bullish Projections
PEPE leads the Meme coin business
While Pepe coin, a famous frog-themed cryptocurrency, has seen phenomenal growth amid the turmoil in the broader market. By scaling multiple new ATHs, the frog-themed token led the piece of money sector by providing gains to investors.
Notably, PEPE also overtook ICP (Internet Computer Protocol) to secure 20th place in the global rankings by market capitalization this week, although it returned to 21st shortly after. Additionally, its most recent ATH is $0.00001577.
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