HomeFinance"Ether Surges 5% Amidst the Return of Meme Craze in Crypto Market"

“Ether Surges 5% Amidst the Return of Meme Craze in Crypto Market”

The crypto market has seen a surge in ether prices, with the memecoin trend gaining momentum among investors. According to Coin Metrics, ether closed the day at around $1,990, up 5.61%. It had reached a high of $1,999.59 earlier in the day, showing a strong performance. Bitcoin also ended the day up at $29,501.16, as it recovered towards $30,000. This trend is attributed to the resurgence of memecoins such as PEPE, SPONGE, dogecoin and shiba inu. However, many investors have suffered losses from investing in these highly speculative assets. Despite this, memecoin activity on chain is generating high gas fees, decreasing the supply of ether, which could boost its price in the long run. Ethereum gas fees have been revived by the return of memecoins, just today hitting 1-year highs, said Conor Ryder, research analyst at crypto data provider Kaiko.

Sara Marcus
Sara Marcushttps://unlistednews.com
Meet Sara Marcus, our newest addition to the Unlisted News team! Sara is a talented author and cultural critic, whose work has appeared in a variety of publications. Sara's writing style is characterized by its incisiveness and thought-provoking nature, and her insightful commentary on music, politics, and social justice is sure to captivate our readers. We are thrilled to have her join our team and look forward to sharing her work with our readers.


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments