9 Ethereum (ETH) Tokens Set to Soar or Decline Post-ETF Approval: PEPE, Arbitrum (ARB), Renzo (REZ), and Others in Focus

The approval of the highly anticipated Ethereum ETF has excited many investors in the crypto industry. As investors and traders scramble to position themselves for the potential price movements, a prominent crypto analyst known as “Emperor” on X has shared a detailed strategy for navigating the upcoming Ethereum token plays. He pointed out Ethereum plays that could soar and those that investors should consider avoiding.

The Ethereum ETF Approval: A Game-Changer

According to Emperor, the approval of the Ethereum ETF has swiftly shifted market sentiment towards accumulating tokens with high “ETH Beta” – a measure of how closely a token’s price follows Ethereum’s price movements. Drawing parallels to the Bitcoin ETF approval in January, Emperor expects a similar surge in Ethereum’s price, followed by a potential retrace as the market reacts to the news.

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Top Ethereum Token Plays to Watch

Among the tokens Emperor highlights as strong contenders for the Ethereum ETF play are:

  1. Pendle (PENDLE): Described as one of the strongest tokens for this narrative, Pendle recently saw a price correction due to the EIGEN airdrop but has shown remarkable strength following the ETF news.
  2. Pepe (PEPE): Recognized as an obvious play for the ETH Beta, Pepe has maintained a robust uptrend, indicating that insiders may have front-run the ETF approval.
  3. Ethereum Name Service (ENS): With Vitalik Buterin’s endorsement throughout the year, ENS is a token Emperor is betting on, as it was one of the few coins that didn’t retrace during the Bitcoin ETF approval.
  4. Ethena (ENA): Backed by a strong team and with no investor unlocks for a while, ENA could potentially see adoption by exchanges and perform well in bullish conditions.
  5. Arbitrum (ARB): After underperforming for a while, ARB is back on track following the ETF announcement, though Emperor personally avoids it.
  6. Lido DAO (LDO): Depending on the approval of staking in the ETF, LDO could see a pump.

Potential Disappointments

While highlighting potential winners, Emperor also cautions about tokens that might disappoint, such as:

  1. Renzo (REZ): Despite its recent listing on Binance, REZ hasn’t shown significant strength following its launch and is already 30% down.
  2. Governance tokens with limited utility: Tokens like REZ, XAI, and Ether.fi (ETHFI) are flagged for their bad tokenomics and limited real-world use cases, potentially leading to a complacency bounce before further declines.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.