After criticizing Ethereum and other altcoins, calling them securities, Micheal Saylor has made a strong statement on the latest Ethereum ETF approval. In his recent interview, Micheal Saylor, the Bitcoin bull chairman of MicroStrategy Inc, said the Ethereum ETF approval is a good thing for Bitcoin because it makes the entire asset class bigger and thus, more money can flow into Bitcoin.
Meanwhile, with the Ether ETF approval, top crypto analysts believe that top altcoins such as Solana, XRP, KangaMoon and Tron will capitalize on that and head to the moon in the coming weeks.
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KangaMoon Token Presale Hits $7.2 Million
The KangaMoon platform has made incredible progress since the start of its presale, breaking records and reaching new milestones. That’s why this altcoin is on the analysts’ watchlist to capitalize on the likely approval of the Ethereum ETF. KangaMoon is noted for its low entry point, allowing investors to be part of the P2E market, which is projected to hit $8856.95 million in 2028.
It’s brand idea that incorporates two features of play-to-earn and SocialFi functionalities enables it to create an arena of exciting gaming legacies for users. With these functionalities, KangaMoon is currently playing host to more than 32k members and about 10k holders. Additionally, the platform recently reached a new milestone after hitting $7,2 million in presale funding.
Having already skyrocketed by a massive 400%, the recent approval of Ethereum ETF could take KangaMoon to a whole new highs, making it the best altcoin to buy at this stage. Excitedly, KangaMoon has been listed on CoinMarketCap and Coingecko and will soon appear on BitMart, a top-tier centralized exchange.
With the staking dApp now in full motion, KangaMoon is one of the best altcoins to watch out for in terms of APY rewards. As the presale gets to its end, users can still purchase KANG at $0.025 and potentially earn as much as 1000% in ROI in the coming months. Armed with these features, milestones, and potential, the Kangamoon token may hit $1 by the end of the second quarter of 2024.
Ethereum Token Eyes $4k After Massive Upswing
Ten days ago, the Ethereum price was slightly above $3k. However, an impressive turnaround of 25% on the weekly chart has shifted the momentum back to the Ethereum bulls as the token gets set to retest its March value of $4k. In a one-year Trajectory, the Ethereum coin has moved up by an impressive 120%, surviving the bearish sentiments.
In terms of market value, Ethereum market cap of nearly $470 billion is the largest in the entire altcoin market. Aside from that, Ethereum trading volume far outweighs the other altcoins with close to $20 billion trading volume. As the pioneer leader of decentralized cryptocurrency, Ethereum is a hot cake among developers, users, and venture capitalists.
Currently, Ethereum market indicators are firmly in the hands of the bulls with the Fear and Greed Index of 75 (extreme greed). With 18 green days out of the past 30 days, Ethereum is expected to move above the $4k threshold soon. Coupled with the recent Ether ETF approval, the future remains bright for Ethereum and could be the best altcoin to invest in for massive gains.
Can Solana Price Trade at $200 Soon?
If any other altcoin could challenge Ethereum, analysts project that Solana could be the one. The Solana network is currently the 5th largest altcoin in the entire crypto market with a market cap of more than $75 billion. The Solana blockchain has remained versatile with global use cases across DeFi, metaverses, meme coins, and NFTs.
Its foray into the meme coin market has made Solana more popular, with DogWifHat Solana-based meme coin hitting $4.85 at some point. Although the token has had its fair share of bearish sentiments, its ability to swiftly come back to a bullish trajectory has been noted. Unlike Ethereum which struggles with scalability, the Solana network is extremely fast, with relatively low gas fees.
Despite a shaky start at the start of the last week with a 5% drop, the Solana ecosystem could ensure price reversal soon. With the Solana price set to hit the $170 resistance level, the next few weeks are pivotal for the token. If the token manages to turn this resistance level into a support base, analysts believe a price value of $200 may be possible in June.
Egrag Crypto Makes Bullish XRP Price Prediction
XRP continues its winning streak in the past week with a comfortable 3% jump taking it above the $0.5 threshold. On the monthly chart outlook, XRP also pulled up a string, going up by a slight 3%. While this appears to be a bullish price momentum, the XRP market cap has not followed the upswing, unable to climb to $30 billion.
Looking at the future of the token, seasoned analysts Egrag Crypto have made a bullish XRP price prediction. He opined that XRP is at the Fibonacci retracement level of 0.702-0.708 which could mean that a breakout could be on the horizon. With a retest of the previous breakout looking possible, Egrag believes the critical breakout point for the token could be in the region of $0.70-$0.75.
Analyzing the trading chart, the XRP token has secured the $0.5 mark and could be heading for the next breakout of $0.75 as predicted by Egrag. As the market moves forward, XRP appears poised for a bull rally that could potentially take it close to $1 in the coming weeks.
Tron Network Progresses, Eclipse Ethereum In USDT Market Share
Tron Network has made amazing progress in the past few weeks, bolstering its status as one of the largest decentralized blockchains. According to data from IntoTheBlock, Tron Dominates the USDT stablecoin market with about 78% share of the entire 18 million transactions in the past week. Tron also holds the highest share of the 140 billion USDT volume across all chains with Ethereum a distant second.
However, the Tron price is down by 9% on the weekly chart, indicating that the ecosystem development has not been reflected in the price movements. With Tron’s market cap set to hit $10 billion soon, its low transaction charge and availability across exchanges make it one of the best altcoins to watch in June.
Conclusion
The approval of the 8 spot Ethereum ETF has sparked a new layer of enthusiasts in the market. With the approval, it is time to position yourself for the big wins. The above-listed tokens have been carefully highlighted with every market condition taken into consideration. By properly aligning your portfolio to include these altcoins, you may potentially be in for massive gains in the coming months.
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