Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Two Ethereum ecosystem tokens, PEPE and MOG, climbed to new highs on the back of U.S. ether ETF filings approvals, with traders treating them as beta bets.
The gains came as ether rose nearly 5% over the same period, leading the advance among major tokens as bitcoinFutures data shows open interest on pepe and mog-tracked instruments spiked up in the past 24 hours. PEPE open interest rose to $720 million from last week’s $550 million, while for MOG the figure rose to $8.3 million from $5 million. Rising open interest is considered a sign of new money entering the market, which may foreshadow further price volatility.
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