CryptoWatch: Ethereum is Rallying, New Meme Coin 'Pepecoin' is Rallying, But How is the State of Others?

Isaiah Richard, Tech Times 07 May 2023, 10:05 pm

Last week saw the meteoric rise of different coins, and CryptoWatch is here to give you a summary of the different stories that made the headlines, including the current state of other coins in the top list. One of the most significant topics last week is Ethereum joining the rally toward significant valuation, one where it was close to returning to its $2,000 selling price.

On the other hand, there is the top most talked about coin in the market, Pepecoin, which is already close to a $1 billion valuation over only several weeks since it was launched.

Ethereum Rallied Last Week, Alongside the Fame of Meme Coins

The second top-performing coin in the world, Ethereum, is seeing a positive rise in its market price last week, and it was close to achieving its $2,000 selling price mark which it enjoyed back in 2021 before it fell to almost half in 2022. Its rally joins the significant uproar for new coins in the market, particularly with the meme coins that recently entered the race.

According to CNBC, the rise of ether saw as much as 5.61 percent more than its previous state, with many helping in its significant performance last week. It ended the week with a $1,995 valuation, but its highest saw as much as $1,999 as it tried to rally to the top.

The varying price of the crypto settled around the sub-2,000 value, which is a positive indication that it is soon climbing to its previous market price.

Pepecoin is the Up and Coming Coin, Near $1B Valuation

If it is not yet news to you, there is a new coin in the market that is making waves in the industry, and it is from another iconic internet meme from a known comic skit series. Pepe the Frog was recently adopted into cryptocurrency in the form of Pepecoin (PEPE), which only started in late April, and is now close to reaching as much as a $1 billion valuation.

Many are advantageous to have rode on PEPE's fame in the past weeks, as their holdings saw significant turnarounds and growth in the market.

It also experienced a significant 500 percent increase in one crypto platform, and according to CoinDesk, its fame is due to memers and whales alike.

Prices of Top Cryptocurrencies in the Market

The start of the new week shows what happened over the weekend for the cryptos in the market, and it may bring an implication for their week's performance, especially as there was a drop in market prices for the top coins.

Bitcoin, which is rallying for $30,000, is now back to $28,000 and saw a 1.24 percent drop over the past seven days, which is not exactly bad, but also not a good track for the coin.

Ethereum is also back to around $1,850 from its $1,995 closer over the weekend but is now on track to regain its losses.

The third crypto in the list is still with the stablecoin Tether (USDT) and maintains its $1.00 valuation in the market.

Followed by BNB ($318.61), USD Coin ($1.00), XRP ($0.438), Cardano ($0.37), Dogecoin ($0.0748), Polygon ($0.9388), and Solana at the 10th place at ($21.13).