Top Crypto Gainers Today on DEXScreener – WIFMAGA, MEGA, APE

cryptonews.com:

As crypto markets lurched higher on Monday on optimism that Ethereum ETFs might soon get approval, renewed risk appetite saw traders hunting for top crypto gainers today flock to the on-chain markets.

Ether (ETH) surged a stunning 19% on Monday and was last trading in the $3,600s.

If spot Ethereum ETFs get US approval, that would be a huge stamp of approval from regulators for the asset.

And it would open the door to a flood of institutional investment, as seen after spot Bitcoin ETF approvals.

Update: @JSeyff and I are increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they'd be denied). See… https://t.co/gcxgYHz3om

— Eric Balchunas (@EricBalchunas) May 20, 2024

Bitcoin (BTC) also vaulted higher, gaining 8% on Monday and last trading around $71,000.

And altcoin markets were a sea of green. The likes of Pepe (PEPE), Arbitrum (ARB), Optimism (OP) and Uniswap (UNI) all gained around 20% alongside ETH.

There is scope for the rally to continue. Macro headwinds have eased this month, with Fed rate cut bets rising following less-hot-than-expected US jobs and CPI inflation data.

And Ethereum ETF optimism could be just the catalyst needed to keep the rally going.

Major cryptos like Bitcoin, Ether and Solana are above key short-term resistance levels and could retest yearly highs.

While the outlook is strong, some crypto traders are looking for higher volatility.

The highly illiquid on-chain markets are the perfect place for these highly risk-tolerant traders.

New shitcoins and meme coins are launched every single day on blockchains like Solana and Ethereum.

Most are