In a significant development impacting both financial and cryptocurrency markets, the U.S. Securities and Exchange Commission (SEC), led by Chair Gary Gensler, has approved multiple shares of spot bitcoin exchange-traded products (ETPs). This decision signifies a notable departure from the SEC’s traditionally prudent stance on financial products related to cryptocurrencies. This article is all about the top 5 coins to buy after Bitcoin ETF approval. Let’s take a look at this in more detail.
Celestia stands apart from the conventional architecture of blockchains. In contrast to the interconnected nature of traditional blockchains, Celestia pioneers a modular blockchain network design. This innovative approach streamlines the establishment of distinct blockchains without the need for excessive additional efforts.
The separation of action execution from the consensus process, coupled with the implementation of data availability sampling, simplifies the structure of Celestia’s blockchain system. This novel methodology empowers developers to construct personalized environments for executing actions and resolving matters, liberating them from the typical constraints associated with conventional blockchain frameworks.
Celestia is currently priced at $15.81, experiencing a 5.26% increase in the last 24 hours. It holds a trading volume of $987.87M, a market cap of $2.48B, and commands a market dominance of 0.14%. On January 5, 2024, Celestia achieved its peak price at $17.27. The lowest recorded price was $0.00, with the post-all-time high (ATH) low at $12.56. The highest price post-cycle low stands at $16.83. The Fear & Greed Index indicates extreme greed at 76, aligning with the current bullish sentiment. Celestia’s circulating supply is 156.61M TIA.
Ethereum Name Service (ENS)
The ENS token functions as a governance token overseeing the treasury of the ENS DAO. This DAO is set up to administer and govern the ENS Protocol, a decentralized, open, and expandable naming system built on the Ethereum blockchain (ERC-20).
Ethereum wallet addresses are intricate and challenging for humans to interpret. This complexity poses difficulties for users, particularly when transferring funds. Typing out the lengthy, random address introduces the potential for errors, necessitating careful verification to ensure accuracy. This complexity increases the likelihood of mistakes during the process.
The Ethereum Name Service (ENS) addresses this issue by employing smart contracts to associate intricate, human-unreadable Ethereum addresses with simplified .eth domains and other variants. By binding a complex address like 0xb4b3351918a9bedc7d386c6a685c42e69920b34d to something.eth, interaction and operations become more straightforward and user-friendly.
As of now, the Ethereum Name Service (ENS) is valued at $19.01, exhibiting a 30.53% increase in the past 24 hours. Its trading volume during this period reached $1.18B, contributing to a market capitalization of $578.16M and a market dominance of 0.03%.
ENS achieved its highest price on November 11, 2021, at $83.40, while its lowest recorded price was $6.69 on October 20, 2023. Since the all-time high, the lowest price observed was $6.69 (cycle low), and the highest reached was $19.74 (cycle high). The current sentiment for ENS price prediction is bullish, with the Fear & Greed Index indicating 76 (Extreme Greed).
The circulating supply of ENS is 30.42M out of a maximum supply of 100.00M. The current yearly supply inflation rate stands at 50.24%, resulting in the creation of 10.17M ENS over the last year.
Ethereum (ETH)
The recent approval of the #BitcoinETF marks a significant milestone in the cryptocurrency market, prompting speculation about the potential approval of an Ethereum (ETH) ETF. While the Bitcoin ETF approval has generated optimism, predicting the timeline for an ETH ETF remains speculative.
The question of “When ETH ETF?” is on the minds of many investors and enthusiasts. May is being considered as a potential timeframe, but the approval process involves regulatory considerations and thorough evaluations by the Securities and Exchange Commission (SEC). Investors may need to exercise patience as they await the regulatory green light for the next groundbreaking financial product in the crypto space.
The SEC’s decision-making timeline and the evolving regulatory landscape will play a crucial role in shaping the outlook for an Ethereum ETF. The crypto community will closely monitor developments, weighing the potential impact on Ethereum’s market dynamics and broader adoption.
As of now, Ethereum is valued at $2,611.38, showcasing a 10.31% increase in the last 24 hours, with a substantial trading volume of $31.71B. Its market cap stands at $313.84B, commanding a market dominance of 17.56%. Ethereum reached its peak price on November 10, 2021, at $4,867.17, while its all-time low occurred on October 21, 2015, at $0.420897. Since its all-time high, the lowest observed price was $897.01 (cycle low), and the highest was $2,629.14 (cycle high).
The current sentiment predicts a bullish trend, and the Fear & Greed Index indicates 76 (Extreme Greed). Ethereum’s circulating supply is 120.18M ETH, and with a yearly supply inflation rate of -1.79%, approximately -2.19M ETH were removed from circulation in the last year. In market cap rankings, Ethereum holds the top position in the Proof-of-Stake Coins sector and secures the second position in the Layer 1 sector.
Ripple (XRP)
As of the latest data, XRP is priced at $0.604665, reflecting a 5.83% increase in the past 24 hours, and the trading volume stands at $3.81B. The market cap for XRP is $32.78B, contributing to a market dominance of 1.83%. XRP achieved its highest value on January 4, 2018, at $3.92, with its all-time low recorded on July 7, 2014, at $0.002802.
Since reaching its all-time high, the lowest observed price was $0.113268 (cycle low), and the highest was $1.977930 (cycle high). The current sentiment suggests a bullish outlook, complemented by a Fear & Greed Index reading of 76 (Extreme Greed).
With a circulating supply of 54.21B XRP out of a maximum supply of 100.00B XRP, the yearly supply inflation rate is 7.86%, resulting in the creation of approximately 3.95B XRP in the last year. In terms of market cap rankings, XRP currently holds the fifth position in the Layer 1 sector.
Over the past year, XRP has exhibited remarkable growth, with its price soaring by an impressive 96%. This places XRP in the top tier of cryptocurrency performers, outperforming 64% of the top 100 crypto assets within the same timeframe.
The coin is currently trading above its 200-day simple moving average, indicating sustained positive momentum. Additionally, XRP is approaching its cycle high, suggesting a bullish trend. The cryptocurrency boasts high liquidity, as evidenced by its substantial market cap.
An interesting aspect is the negative yearly inflation rate of -1.79%, signaling a reduction in the overall XRP supply. These factors collectively contribute to a positive outlook for XRP, positioning it as a strong contender in the evolving cryptocurrency landscape. Investors may find the current trends indicative of potential future gains and stability.
Arbitrum (ARB)
As of the latest data, Arbitrum is priced at $2.33, reflecting a substantial 20.07% increase in the past 24 hours, and the trading volume stands at $5.31B. The market cap for Arbitrum is $2.97B, contributing to a market dominance of 0.17%. Arbitrum achieved its highest value on March 23, 2023, at $8.67, with its all-time low recorded on September 11, 2023, at $0.744259.
Since reaching its all-time high, the lowest observed price was $0.744259 (cycle low), and the highest was $2.38 (cycle high). The current sentiment suggests a bullish outlook, complemented by a Fear & Greed Index reading of 76 (Extreme Greed).
With a circulating supply of 1.28B ARB, Arbitrum’s performance, coupled with positive market sentiment, positions it as an intriguing asset within the cryptocurrency landscape. Investors may find the current trends indicative of potential opportunities for growth and market influence.
The current state of the ARB reflects a favorable trading environment as it is currently positioned above the 200-day simple moving average. Over the last 30 days, ARB has experienced 16 green days, constituting a 53% positive trend, indicative of robust market momentum.
Trading in proximity to its cycle high, ARB suggests sustained strength in its price performance. The cryptocurrency also exhibits high liquidity, substantiated by its significant market capitalization.
These factors collectively suggest a positive trajectory for ARB, with the potential for continued bullish momentum in the near term. However, investors should remain vigilant and monitor market dynamics for potential shifts in sentiment or price trends.