The crypto world is witnessing historic events this year. Within the first five months of 2024, there have been multiple groundbreaking events. You can see the Bitcoin ETF approval, the Ethereum ETF approval, the rise of endless meme coins, altcoins dominating the crypto realm, and much more.
However, the rise is not the only upward trend that we saw this year. Many crypto titan fell down and closed, some were granted prison time for not implementing necessary laws in their platform and the list goes on.
The hottest and most trending news among all this is the approval that Ethereum ETFs got from the US SEC. As it is a blockchain where one is listened to by another, the changes happening to one specific crypto can have impacts on all the chained ones if one crypto reaches its new ATH price, it means that all the shareholders and the ascites businesses are winning too.
Also, when one cryptocurrency wins big, it reaches the top position by dominating all the cryptos. Simultaneously, when one crypto falls down, then you witness the rise of another crypto. However, this news piece is not about any such fall or rise, rather it is about the new trend that Ethereum ETF approval has set in the blockchain world.
3 Cryptos Exploding With Ethereum ETF Approval
After a waiting period that prolonged for about 5 months, the applications got approval on their proposal of Ethereum ETFs from the US SEC. Here we have listed the top 3 cryptos that are expected to have a skyrocketing growth following the Ethereum approval.
The assessments and assumptions suggest these cryptos are all set to dominate the industry in the coming days. It may or may not be true, however. Let us look at the price and market cap details of these three.
1️⃣ Ethereum (ETH)
- Ethereum Price = 3,840.89 US dollars
- Ethereum Market Cap = 461,423,751,818 US dollars
- Ethereum Volume 24 (h) = 18,192,933,451 US dollars
Ethereum is the second biggest cryptocurrency in the world when we assess it by the metric of market capitalization. Even before the ETF approval news, Ethereum has been on a great path since the start of its year, however, the Ethereum ETF has only resulted in triggering the value growth of crypto.
Following the Bitcoin ETF, that happened a while ago, BTC has witnessed around 70% growth. Market analyst suggests that Ethereum may follow a similar path and this may result in the crypto achieving new ATH prices.
Also, Read: Ethereum Market Cap And Price Predictions: 2025 To 2030
2️⃣ Uniswap (UNI)
- Uniswap Price = 10.72 US dollars
- Uniswap Market Cap = 6,421,645,895 US dollars
- Uniswap Volume 24 (h) = 282,083,755 US dollars
Uniswap is a top DEX opertang on Ethereum platform. The presence of Unisap in the blockchain plays a great role in improving the ecosystem of decentralized finance.
The market cap details of the UNI are given above. It was the data at the time when this article was written. The ETH ETF approval can position Uniswap at the top of the decentralized realm and the platform expects an increase of investors in the coming days. The trading volumes are also predicted to go high.
4️⃣ Polygon (MATIC)
- Polygon Price = 0.7295 US dollars
- Polygon Market Cap = 7,226,253,021 US dollars
- Polygon Volume 24 (h) = 348,853,484 US dollars
These are the live price and market cap details of Polygon when this article was published. Recently, Polygon, a layer 2 scaling solution for Ethereum, has showcased significant growth and has been getting a lot of attention. It is expected to have an increasing influx in the coming days.
Closing Thoughts
It is worth noting that the SEC approval of ETH ETF came at a time when people were least expecting it. There were many speculations that the proposal may be rejected by the financial enforcement body.
However, with the approval the top companies are preparing for their launch of Ethereum ETF. Although it means that they can only prepare and approach the launch, there needs to be a second round of approval for the Ether ETF launch to take place. What do you think about all this?
