PEPE Hits $11B, Ethereum ETFs Soar, and Altcoins Signal Market Shake-Up
What’s Happening in the Crypto World Today?
Dec 10, 2024
PEPE surpasses Uniswap with a stunning $11B market cap.
Altcoins rally with staggering gains; caution advised in futures market.
Ethereum ETFs experience an unprecedented 10-day winning streak.
Cryptocurrency markets are buzzing with unexpected turns. Today, meme coin PEPE broke into the big leagues, boasting a market cap of $11 billion and overtaking DeFi giant Uniswap. This explosive growth solidifies PEPE’s shift from a mere joke token to a heavyweight competitor. Analysts point to a mix of retail enthusiasm and whale activities as the driving forces behind its meteoric rise.
Meanwhile, altcoins are heating up. Tokens like Hedera (HBAR), IOTA, and JasmyCoin posted dramatic gains of 99%, 79%, and 72%, respectively. These gains have reignited debates about a potential “alt season,” but the perpetual futures market is sending mixed signals, sparking concerns about sustainability.
Ethereum continues its streak of success, with ETFs achieving an incredible 10-day inflow streak, bringing in $836.7 million in just a week. Fidelity’s funds are leading the charge, and Ethereum’s price pushed past $4,000 for the first time in months, propelled by renewed interest in NFTs and institutional support.
Adding intrigue, Trump’s new crypto and AI advocate David Sacks has stepped up against regulatory hurdles like “Operation Choke Point 2.0.” With Coinbase presenting evidence of unjust crackdowns, the battle to protect crypto’s future is heating up.
Crypto enthusiasts are now fixated on the week ahead, with the market at a fascinating crossroads. Will PEPE's rise continue? Can altcoins maintain their momentum? And what lies next for Ethereum’s bullish run? The coming days promise to reveal all.