Market dynamics on May 24: Meme tokens of the Ethereum system are generally rising
I. Market Overview
1. The market is showing a downward trend, with Bitcoin's dominance sharply declining, benefiting the altcoin season.
2. U.S stocks are experiencing a pullback, PMI economic data hits a two-year high, and the first interest rate cut expectation has been postponed from November to December.
II. Market Focus
1. Public chain Ethereum fluctuates at high levels. The U.S Securities and Exchange Commission has passed key documents for Ethereum ETFs, formal approval will take several months.
2. Prices of PEOPLE, PEPE, MOG, TURBO, WOJAK and JOE in the Meme series have risen significantly. These are all Ethereum-based Meme tokens; among them JOE rebounded 30 times from its low point.
3.Prices of projects within the Ethereum ecosystem such as ENS, ETHFI,MANTA,and ETC also increased .ETHFI launched re-pledge credit card business.
4.In the "Decentralized Stablecoin" category TRU and ONDO prices soared.Metadrop is about to go live on LISTA platform.LISTA is a liquidity pledge and decentralized stable coin lending protocol developed and operated by original BSC chain Helio team which was severely attacked by hackers in past .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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