Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Market Dynamics on May 21: ETH leads the surge, driving a general rise in altcoins

Market Dynamics on May 21: ETH leads the surge, driving a general rise in altcoins

Bitget2024/05/21 02:39
By:Bitget

I. Market Dynamics
1. Market Trends: BTC breaks through 70,000, approaching its previous high. ETH leads the surge, driving a general rise in altcoins.
2. U.S stocks are rising and reaching historical highs. The U.S dollar index is falling on a weekly basis.

II. Market Hotspots
1. ETH has surged significantly. The U.S SEC demands to expedite the update of Ethereum spot ETF application documents, increasing the probability of Ethereum spot ETF approval from 25% to 75%. Several ETH passed their final deadline from May 23rd to August 7th.
2.The staking sectors of PENDLE, ETHFI, REZ, LDO, ENA in ETH; Meme's PEPE and OMG; L2 track's METIS; domain name ENS etc., have risen more than ETH itself . With the rise of ETH ,the growth of TVL (Total Value Locked) in re-staking protocols is most direct.
3.PYTH and BONK in Solana ecosystem have surged significantly with PYTH oracle unlocking completed.
4.Runecoin and DOG tokens within BTC ecosystem have soared greatly while Rune founder plans for live-streamed harakiri due to Rune not meeting expectations.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

The next-generation Launchpad may help address the issue of community activation in the cryptocurrency sector, a problem that airdrops have consistently failed to solve.

Block unicorn2025/11/28 10:23
From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?