Ethereum (ETH) and Trending Meme Coin Top a Prestigious Ranking: Details

TL;DR

• Ethereum’s popularity surged after the US SEC closed a particular investigation related to the asset and Pantera Capital announced plans to invest $100 million in a spot ETH ETF.
• Other recently-trending cryptocurrencies include the Trump-themed DJT token, ENS, and Fetch.ai (FET), which saw a 30% price increase.

Attracting the Most Attention

The crypto market intelligence platform Santiment revealed that Ethereum (ETH) has witnessed the largest rise in trader interest lately. 

The second-biggest cryptocurrency in terms of market capitalization could be trending due to the US SEC’s actions. Earlier this week, the regulator informed ConsenSys that it will close its investigation into Ethereum 2.0, meaning it will not pursue charges that the sales of ETH are securities transactions.

“The closing of the Ethereum investigation is momentous, but it’s not a cure-all for the many blockchain developers, technology providers, and industry participants who have suffered under SEC’s unlawful and aggressive crypto enforcement regime,” ConsenSys added.

Santiment explained that a reason behind Ethereum’s rising popularity could also be Pantera Capital’s intention to purchase $100 million worth of the asset. The plan was revealed by Bloomberg’s James Seyffart who claimed the company will distribute the capital into Bitwise’s spot ETH ETF.

Another cryptocurrency capturing a huge chunk of trader interest is the new Donald Trump-themed token DJT. Initially, it was speculated that the former president of the United States would launch the asset, with his 18-year-old son, Barron Trump, spearheading the project.

Most recently, Martin Shkreli (an ex-convict who spent several years in prison for financial-related frauds) publicly announced his role in the creation of the meme coin.

The List Goes on

The other cryptocurrencies that have become increasingly trendy recently are GCR, ENS, PENDLE, XLM, WAMPL, ARKM, FET, and USDT. 

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Ethereum Name Service (ENS) could have gained additional interest from the news involving America’s securities regulator and ETH.

For its part, Fetch.ai experienced a daily price pump of around 30%. The rally of the AI-related cryptocurrency coincided with NVIDIA’s success. As CryptoPotato reported, the tech giant became the largest company in terms of market capitalization (over $3.33 trillion), surpassing Microsoft ($3.31 trillion).

Another announcement that might have positively impacted FET’s price is that Fetch.AI, Ocean Protocol, and SinguralityNET will merge their tokens. Binance is one of the leading cryptocurrency exchanges to support the initiative.