Ethereum applications take place as top gainers ahead of ETF announcement

According to CoinMarketCap, native tokens of Ethereum applications, including Lido DAO, Rocket Pool, and Aribtrum, take the lead ahead of spot Bitcoin ETF approval day.

Lido DAO (LDO) takes the top spot on the gainers on the Jan. 10 charts with a live price of $3.80, with a 24-hour trading volume reaching $385 million, in what is a 16.1% increase. The surge in the value of Ether (ETH) and native tokens of Ethereum-based applications is said to be driven by trader optimism surrounding the potential approval of an Ether exchange-traded fund (ETF) following the anticipated approval of a Bitcoin ETF in the United States.

BlackRock’s iShares Ethereum Trust, a spot Ether ETF, may have its way paved by the approval of its Bitcoin counterpart.

For similar reasons, Rocket Pool (RPL) has also seen an increase in value today, operating as a decentralized Ethereum staking pool that offers a competitive annual percentage rate (APR) of up to 4.3% for ETH2 staking. As of the most recent update, the live price of Rocket Pool stands at $31.76, accompanied by a 24-hour trading volume of $22 million, revealing a 14.9% increase in Rocket Pool’s value over the last 24 hours.

Rounding out the third spot is Arbitrum (ARB), which stands out as an Ethereum layer-two (L2) scaling solution, employing optimistic rollups to enhance speed, scalability, and cost-effectiveness within the Ethereum network. As of the latest data, the live price of Arbitrum is currently $1.94, accompanied by a 12.1% increase in value.

With the market experiencing significant volatility this week in response to ETF updates, investors are making many big moves in the crypto space.