Market sentiment overall has gone very bullish, and the fear-greed indicator is pointing towards rising greed.

This chain is considered a favorite for most whales. It earned their trust despite lacking upgrades for a long time. Most successful crypto projects are based on the Ethereum chain, though it hasn't taken part in this cycle yet.

Market sentiment overall has gone very bullish, and the fear-greed indicator is pointing towards rising greed. The FOMC's decision to maintain the cut rate had a particularly significant positive impact on crypto overall.

On the other hand, Ethereum released its Pectra upgrade. It brings a ton of new features, more flexibility for wallets, better data handling, and big changes for staking.

All this led to a 20% pump in

, and investors are seeking to buy ETH ecosystem coins.

$ETH || Send it 📈#Ethereum pic.twitter.com/jJEryEyCtF

— Christiaan (@ChristiaanDefi) May 8, 2025

This chain is considered a favorite for most whales. They prefer it despite the lack of upgrades for a long time. Most successful crypto projects are based on the Ethereum chain, though it hasn't taken part in this cycle yet. So every time there is a decent surge, everyone gets hyperbullish again.

Looking at the ETH ecosystem coins, we can notice that four out of five top gainers are memecoins. MOG has pumped over 150% since the 5th of May and is expected to continue to do so. The same goes for good old Pepe and Floki, pumping over 30%. Pepe is likely to lead the memecoin pumps, and as long as it continues to do well, others will too.

And of course, the stock market "flipoor" $SPX pumped 30%, just like the others on the daily chart.

Utility coins-wise, Ethena always pumps whenever ETH finds a breath but dumps even harder later on. The Aioz network is an interesting one. It's been around for four years and has been surging since last month, even before Ethereum pumps.

ETH L2 ecosystems like Base and Arbitrum can do even better. Because these chains have fewer established projects, they often provide better opportunities for adventurous investors. Coins like Freysa (FAI) and Keeta (KTA) are considered excellent R/R coins.

As always, do your own research (DYOR) before purchasing any cryptocurrency!