The Rise of PEPE
Published on May 29, 2024
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NEED TO KNOW
SEC Slapped with Fine
  1. 👨‍⚖️ Judge Orders SEC to Pay Crypto Startup's Legal Fees. The SEC ordered to pay $1.8M in Debt Box case.
    Read more on Bankless.com
  2. Gemini Earn Depositors Made Whole. Depositors in the program get a happy ending to a drawn-out saga.
    Read more on Bankless.com
  3. ⭕️ Vitalik Spotlights Ethereum's L2 Cultural Advantages. Ethereum's nested networks bring diversity to the network, he says.
    Read more on Bankless.com
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TODAY IN MARKETS
Grayscale Loses the Crown
Bankless Author: Jack Inabinet

📊 New King. The Grayscale Bitcoin Trust (GBTC) was initially created in 2013 and launched as the largest spot BTC ETF by assets under management thanks to a decade-long head start that allowed it to accumulate nearly $30B in BTC. Yesterday, GBTC’s reign came to an end. Which ETF has taken its place, and what conclusions can we draw from this development?

Prices as of 6pm ET 24hr 7d
Crypto $2.53T ↘ 1.5% ↘ 1.6%
BTC $67,592 ↘ 1.3% ↘ 2.2%
ETH $3,775 ↘ 2.1% ↗ 0.9%
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ANALYSIS
The Rise of PEPE
Bankless Author: David C.

Up over 100% this month and over 1100% year-to-date, PEPE has rocketed into the slot of the third-largest memecoin with a whopping $6.2B market cap

The infamous frog has made a significant impact on the Ethereum memecoin ecosystem since its launch in April 2023, rising to become one of the highest consensus plays of this cycle so far.

In this article, let's get a sense of where the token is at and where it may be going 👇


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