- Prior to the Spot Ether ETF ruling, cryptocurrency tokens in the categories of artificial intelligence, meme coins, and prediction markets are rising.
- In a single day, the market capitalization of AI, meme coins with a cat theme, Solana-based meme tokens, and prediction market assets increased by 4% to 71%.
- Anticipation for the Ethereum ETF has revived excitement, with gains reported by over one-third of the top 20 cryptocurrencies.
According to CoinGecko, Ethereum has increased its gains by 30% during the last seven days. Prior to the release of the Spot Ethereum Exchange Traded Fund (ETF) results, market players’ confidence surged.
In the last day, gains were extended by a number of cryptocurrency categories, prediction market tokens, cat-themed meme coins, AI, and Solana-based meme currencies.
Tokens in the AI category saw a 71% increase in market capitalization, while meme coins with a cat theme added over 14%, Solana-based meme coins approximately 19%, and prediction market tokens saw a 4.5% increase.
Memes centered around cats, AI, and Solana expand profits
Extreme greed was evident on Thursday, last week, and throughout the month of May, according to the crypto fear and greed index, a sentiment monitoring tool for the cryptocurrency market.
According to Zerocap, extreme greed suggests that tokens might be overpriced or that a bubble may be about to burst in the market.
According to CoinGecko, the market valuation of AI, meme tokens with cat themes, meme currencies based on Solana, and prediction market tokens has increased amid rising levels of greed.
In the last day, the AI-based meme currencies CorgiAI (CORGIAI), Turbo (TURBO), Grok (GROK), and Kitten Haimer (KHAI) have all increased in value by 43.8%, 25.6%, 5.9%, and 13.7%, respectively. Over the last seven days, CORGIAI, TURBO, and GROK have all maintained double-digit gains.
meme coins with a cat theme In the last day, Wen (WEN), Popcat (POPCAT), Mog Coin (MOG), Cat in a Dog’s World (MEW), and 6.4% added gains, respectively, and 11.3%, 1.1%, and 12.3%. Among these investments, MOG and WEN maintained their 40% and 10% weekly returns, respectively.
In the last day, the values of the Solana-based meme coins Dogwifhat (WIF), Bonk (BONK), BOOK OF MEME (BOME), and Myro (MYRO) increased by 1.5%, 13.9%, 3.1%, 11.5%, and 0.5%, respectively.
During the previous seven days, the following assets maintained their gains: BONK, BOME, MYRO, and PONKE.
Gnosis (GNO), SX Network (SX), and Kleros (PNK) are prediction market tokens that have increased by 7%, 0.4%, and 3.8% during the last day. According to CoinGecko, these tokens have increased their gains during the previous seven days.
In light of the market’s “extreme greed” status as determined by the Fear and Greed Index, traders may choose to profit on rising assets out of concern for a correction or impending bubble.
In anticipation of the US Securities and Exchange Commission’s (SEC) ruling regarding the Spot Ethereum ETF, market participants have seen favorable price gains in over one-third of the top 20 cryptocurrencies by market capitalization.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
