In a significant development in the cryptocurrency market, Ethereum Classic (CRYPTO: ETC) has seen a remarkable 34% surge over the past 24 hours. This increase has outshone the performance of leading cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

The surge has positioned Ethereum Classic as the top performer among the 100 leading cryptocurrencies by market cap today. While Bitcoin experienced a modest increase of 1% today, Ethereum saw a significant rise, surging over 9% in the last 24 hours.

The trading volume for Ethereum Classic has also seen a dramatic increase, soaring by 234% within a single day to reach a total of $1.54 billion. This upswing is believed to be driven by the Securities and Exchange Commission’s (SEC) recent approval of Bitcoin ETFs on Wednesday. This decision is a historic moment for the cryptocurrency industry, potentially broadening the investment horizon for bitcoin to a wider array of investors.

Analytical firm Santiment has commented on the situation, stating, “Ethereum Classic has blasted off following the Bitcoin ETF announcement, reaching above $26 for the first time since October, 2022.” The firm has also noted an associated increase in trading volume, indicating heightened trader interest in the asset. However, despite the increased activity, Santiment reports that the sentiment around ETC remains “neutral for now.”

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	1
People	None
Companies	Benzinga, Santiment, Securities and Exchange Commission
Currencies	Ethereum, Bitcoin
Securities	None