Web3 🌒 Saturday - Cryptocurrency Market Roundup: Ethereum ETFs, NFT Sales Boom, and XRP & Dogwifhat on the Rise!
1/ 💥 Ethereum ETFs Set to Launch on the Chicago Board Options Exchange.
2/ 🔥 Solana Monkey Business leads NFT sales.
3/ 📊 XRP Trading Volume Surges in South Korea.
4/ 🐶 Dogwifhat Comeback, Surging 50% and Re-entering Top 50.
For further more details, let's keep reading!
Today's crypto news brings a mix of exciting developments and analyst warnings. We'll explore the upcoming launch of Ethereum ETFs, a surge in NFT sales led by Solana Monkey Business, positive sentiment surrounding XRP in South Korea, and the triumphant return of Dogwifhat to the top memecoins.
Stay tuned for a deeper dive into each story!
1/ Ethereum ETFs Set to Launch on the Chicago Board Options Exchange.
Five Ethereum ETFs are set to start trading on July 23rd on the Chicago Board Options Exchange (Cboe). This news follows the SEC's approval of these ETFs, paving the way for a potential influx of investment into Ethereum.
Cboe said that the following spot Ethereum ETFs will begin trading on Tuesday: 21Shares Core Ethereum ETF (CETH), Fidelity Ethereum Fund (FETH), Franklin Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), and VanEck Ethereum ETF (ETHV).
This development could be a significant milestone for Ethereum ETFs adoption and mainstream accessibility.
[Credit]
Andrew Hayward
2/ Solana Monkey Business leads NFT sales.
Solana Monkey Business is leading the NFT sales charts with a whopping US$971,164 in daily sales! This impressive number positions them as the top seller in the NFT market currently. While Solana Monkey Business is dominating the daily sales, Gods Unchained and DMarket have also been performing well over the past week. Bored Ape Yacht Club and Pudgy Penguins remain important players in the NFT market, but neither reached the sales volume of Solana Monkey Business. Overall, the NFT market is showing strong sales volume, with Solana Monkey Business leading the pack.
[Credit]
CryptoSlam
3/ XRP Trading Volume Surges in South Korea.
In a sign of positive sentiment surrounding Ripple, XRP trading volume has surged in South Korea. XRP trading volume surpassed Bitcoin's on major South Korean exchanges this week, reaching as high as 40% on UpBit.
The announcement of new XRP indices and reference rates by CME and CF Benchmarks last week may have boosted investor confidence. Positive comments from Ripple Labs CEO Brad Garlinghouse regarding the SEC lawsuit may have also contributed. Increased media coverage and influencer attention may have fueled buying pressure from South Korean traders.
Analysts warn that the recent surge in XRP price may be followed by a correction. The price could pull back in early August, but if it can stay above $0.70, it may continue to rise.
[Credit]
Shaurya Malwa
4/ Dogwifhat Comeback, Surging 50% and Re-entering Top 50.
Dogwifhat (WIF) has made a triumphant return, surging back into the top 50 cryptocurrencies by market cap. This impressive feat comes after a stellar week for WIF, with its price climbing a whopping 50%. This surge has solidified Dogwifhat's position as the fourth largest memecoin, boasting a market cap of $2.4 billion. While analysts are optimistic about further price increases, they caution that WIF's fate remains intertwined with the overall stability of the cryptocurrency market.
[Credit]
This week has been a whirlwind of news in the crypto world! Here's a quick recap today article:
- Ethereum ETFs are poised to launch on July 23rd, potentially boosting mainstream adoption.
- Solana Monkey Business is king of the NFT jungle, leading daily sales.
- XRP is surging in South Korea in hopes for a settlement with the SEC, but a correction may be on the horizon.
- Dogwifhat, the memecoin, is back in the top 50 cryptocurrencies after a 50% price increase.
Stay tuned for more updates as these stories unfold!
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
