Odaily reports that Presto research analyst Min Jung said, "The strength of ETH may be due to Cboe's application to the US SEC for approval to pledge in the 21Shares Ethereum ETF. One of the biggest challenges facing the ETH ETF is the inability to pledge, so if this plan is approved, it could change the entire game." In addition, BNB has the highest increase among the top 30 cryptocurrencies by market capitalization, rising about 12% to around $710. BTC Markets cryptocurrency analyst Rachael Lucas believes the rise in BNB price is a "technical rebound", "as the token hit a bottom after a sell-off driven by liquidations, falling to $500 on February 6th, and given BNB's historical price trend, traders may see the $500 level as a key accumulation area, and it will rise further once the overall market sentiment improves." Meanwhile, Presto analyst Jung pointed out that Binance has launched meme coins such as TST and CHEEMS, coupled with CZ's promotion of the BNB Chain on social media, which may be the reason for the rise in BNB price. (The Block)