2024-01-12 08:40:00
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Investing.com – Finally, following a long wait, the Securities and Exchange Commission (SEC) has approved exchange-traded funds that will be offered for trading for the first time in the United States of America.
After approval, the expected rise in Bitcoin price did not happen and the digital currency maintained its slightly bullish positive position. Market participants are now awaiting higher demand for spot Bitcoin ETFs, which are expected to begin trading today. Additionally, while the Bitcoin fund approval is being warmly welcomed across the market, the altcoin market has also made significant gains.
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Highest rising altcoins in the last 24 hours
With increasing demand in the altcoin market, the upward trend in digital assets, mostly associated with the Ethereum ecosystem, along with the Ethereum token, is noteworthy.
Ethereum Name Service ()
Ethereum Name Service (ENS) became the highest rising cryptocurrency in the top 100, rising to $21.
ENS, which recorded a significant increase of 160% in the past month, has become one of the top 100 cryptocurrencies with the current increase in its value.. ENS, which has been moving horizontally in the range of $8 – $20 for the past two years, doubled its value this week, achieving… Its highest weekly gain since launch, now testing previous peak level achieved in April 2022.
Ethereum Classic ()
Ethereum Classic (ETC), which was developed by physically separating from Ethereum, achieved significant upward momentum today and became the second most bullish cryptocurrency on the top 100 list.
ETC value rose to the $28.95 mark. With this remarkable jump, this altcoin returned to its September 2022 price level following quickly crossing the $22-$23 range, which remained acting as strong resistance throughout 2023.
Classic also reached a market cap of $4.4 billion, becoming the 21st largest cryptocurrency. ETC is also one of the cryptocurrencies in high demand from former Ethereum miners through its Proof of Work mechanism following ETH moved to the Proof of Stake mechanism.
Sue ()
While SUI rose to $1.1050, it is the third-highest cryptocurrency on the top 100 list.
After turning its trend higher with the general rally in October, SUI achieved its highest gains this week, with a 166% rise in value in 3 months.
The double-digit gains in the top 20 cryptocurrencies list are noteworthy.
At this point, we need to make a separate note regarding Ethereum, the largest altcoin in the cryptocurrency market; ETH appeared to perform better than Bitcoin following the Bitcoin Spot Investment Fund was approved, with its 24-hour value increasing by more than 12% and rising to $2,650.
Among other digital currencies whose market value has risen, it stands out with a 25% increase in value today. Aside from TON, TRX, and BNB which are in the top 20 today, other altcoins continue to rise with values between 10% and 20%.
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