Market Dynamics on May 22: Ethereum-based Meme Tokens Lead the Surge
I. Market Dynamics
1. General market trend: The market is fluctuating and rising. The U.S SEC tends to approve ETH ETF, the latest plan abandons pledging, re-pledging will be considered as securities.
2. U.S stocks are rising, setting a new historical high again. Federal Reserve officials made dovish remarks.
II. Market Hotspots
1. Memes such as PEPE, PEOPLE, FLOKI, WOJAKk, MOG etc., have surged significantly with Ethereum-based memes leading the rise.
2. Social tokens DEGEN, HIGHER and ONLY1 have also seen significant increases in value.
The social protocol of Base chain - Farcaster has received investments from a16z and paradigm.
3.Domain name ENS has surged significantly.Vitalik tweeted his optimism about ENS which can serve as a tool to unify different L2s of ETH.
4.L2's zksync plans for an airdrop with total token count being 21 billion; the market expects it to reach $10 billion in capitalization.The same track ARB、OP、STRK all have around $12 billion total market value each.
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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