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Ethereum ($ETH) price has increased 8.5% in the past 24 hours to hit highs of $2,448 across major crypto exchanges (it rose to $2,459 on Coinbase). Against Bitcoin ($BTC), the world’s second largest cryptocurrency by market cap had risen by over 12% to 0.05392 $BTC.
$ETH’s gains come as $BTC hovered above $45,300, more than 3% down in the past 24 hours.
Lido DAO, Arbitrum and Rocket Pool soar as $ETH hits $2.4k
While Ethereum was up 8.5%, a number of altcoins were surging double-digits. According to data from CoinGecko, Ethereum ecosystem coins Lido DAO ($LDO), Rocket Pool ($RPL), Arbitrum ($ARB) and Optimism (OP) were all skyrocketing as $ETH gained momentum.
Liquid staking governance tokens $LDO and $RPL traded 19% and 21% up respectively at the time of writing, with Lido DAO changing hands at $3.86 and Rocket Pool at $33.37. Meanwhile, the native tokens of Ethereum layer-2 platforms Optimism and Arbitrum were up 16% and 19% respectively. OP traded at $3.71 and $ARB at $2.01 at 11:24 am ET on Wednesday.
The upside momentum experienced by Ethereum and the related coins came after Tuesday’s farcical news alert about the approval of spot Bitcoin ETFs. The fake post on the SEC’s official X account resulted in $BTC shooting to a 19-month high above $48,000 on Binance.
However, SEC Chair Gary Gensler’s official X account said the approval news was false as the regulator’s account had been hacked. $BTC plummeted to lows of $45,000. Today, the flagship cryptocurrency’s price reached an intraday low of $44,383 on Binance and $44,320 on Coinbase.
Analysts are however upbeat about $BTC price, with Fundstrat’s Tom Lee predicting Bitcoin could reach highs of $150,000 in the next 12 months. Among catalysts for the bull run is the highly anticipated spot ETF approval and Bitcoin’s upcoming halving.
The post $ETH spike above $2.4k triggers double-digit gains for $LDO, $ARB, $RPL appeared first on Invezz
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