Native tokens of Ethereum applications, including Lido DAO, Rocket Pool, and Aribtrum, are leading the way ahead of the spot Bitcoin ETF approval date, according to CoinMarketCap.
Lido DAO (LDO) topped the charts on January 10th with a live price of $3.80, with 24-hour volume up 16.1% to $385 million. The surge in the value of Ethereum (ETH) and its native tokens for Ethereum-based applications is said to be driven by trader optimism surrounding the possible approval of an Ethereum exchange-traded fund (ETF) following the approval of the Bitcoin ETF. USA.
BlackRock’s iShares Ethereum Trust, a spot Ether ETF, could pave the way for Bitcoin’s approval.
For similar reasons, Rocket Pool (RPL) has also increased in value today, operating as a decentralized Ethereum staking pool that offers competitive annual percentage rates (APRs) of up to 4.3% for ETH2 staking. As of the most recent update, Rocket Pool’s real-time price is $31.76, and the 24-hour trading volume is $22 million, showing a 14.9% increase in Rocket Pool’s value over the last 24 hours.
In third place is Arbitrum (ARB), which stands out as an Ethereum layer 2 (L2) scaling solution that uses optimistic rollups to improve speed, scalability, and cost-effectiveness within the Ethereum network. Based on the latest data, Arbitrum’s real-time price is currently $1.94, with an increase of 12.1% in value.
Investors are seeing a lot of big moves in the cryptocurrency space, with markets experiencing significant volatility this week due to ETF updates.