Investors are increasingly focusing on ERC-20 Tokens as the crypto market awaits approval by the U.S. Securities and Exchange Commission (SEC) of the Ethereum Exchange-Traded fund (ETF). They could benefit from increased investment and attention in the Ethereum eco-system.
A recent tweet from SantimentThree ERC-20 coins are the frontrunners based their significant daily development rates for the past thirty days. They include Chainlink (LINK), Status, and Ethereum.
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Chainlink
Chainlink The (LINK) token has topped the list of ERC-20 Tokens for development activity. Chainlink, despite a drop of 1.28% in the last 24 hours and a trading price currently at $16.57 has been positioned as an important player in Ethereum’s ecosystem due to its strong fundamentals.
The trading range of LINK for the 24-hour period is $16.22 to $16.90. This indicates a fairly stable market. Chainlink, which provides secure and reliable feeds of data for smart contracts in anticipation of the Ethereum ETF’s approval, could drive demand for LINKs as the market anticipates the Ethereum ETF.
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Status (SNT).
Status SNT (a communication platform built using the Ethereum blockchain) has ranked second in the development activity of ERC-20 Tokens. SNT, currently trading at $0.0376 has seen a decrease of 1.83% in the last 24 hours. The 24-hour range for SNT trading is between $0.03744 to $0.03842.
Status’ focus on offering secure and private communication options could increase interest from users and investors.
Ethereum (ETH)
Ethereum The development of (ETH) has been notable in preparation for the possible ETF approval. It is the second largest cryptocurrency by market cap and also the foundation of the ERC-20 ecosystem.
ETH, currently at $3.783.24, has seen a modest 0.67% rise in the last 24-hours, with a trading range of $3.655.08 – $3.796.46.
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The increasing activity of the Ethereum Network itself, as the expectation for an Ethereum ETF grows, highlights ongoing efforts in improving scalability and security.
ETF’s successful implementation could drive substantial investment to the Ethereum ecosystem. This would benefit both ETH and the ERC-20 Tokens on its Blockchain.
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Source: watcher.guru