ETH prices surged in East Asia, while the CoinDesk 20 Index rose by 3.5%, reaching above 2,600. Tokens from decentralized staking protocols like Lido DAO and Rocket Pool ETH also saw gains of 10% and 8% respectively.
The rally in Ether was possibly attributed to the market interest in the DeFi protocol Ethena, which recently added bitcoin as collateral for its synthetic stablecoin. The surge was not solely based on anticipation of an ether spot ETF approval.
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