The Rise of Pepe
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📊 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% |
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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