Ethereum surged almost 5% today after news circulated that VanEck had received approval to launch its VanEck Ethereum Strategy ETF.
With over $77 billion in assets under management, the firm has started to release advertisements about its ETF, with experts predicting it could launch as early as next week.
Meanwhile, considering Ethereum is a staking project, investors are turning their attention to lesser-known staking platforms in the hopes of getting positioned early for a massive surge.
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VanEck ETF News Circulate as Adverts Released
The crypto market saw a significant sentiment boost this week after news appeared that VanEck, a global investment management company, had received approval to launch an ETF.
The investment giant is now approved to launch its VanEck Ethereum Strategy ETF (EFUT), an Exchange Traded Fund (ETF) that will generate significant institutional investment in the industry.
The fund is designed to standardize cash-settled ETH Futures contracts and will be traded on the Chicago Board Options Exchange (CBOE) and registered with the Commodity Futures Trading Commission (CFTC).
Yesterday, the VanEck social media accounts released two “Enter the Ether” TV commercials to start promoting its ETF;
AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC— VanEck (@vaneck_us) September 28, 2023
The news excites everybody in the industry, as it will help institutional investors start investing in the sector through a regulatory-compliant vehicle.
Ethereum Surges as Traders Expect Influx of Attention From VanEck ETF – Can It Hit $2,000?
Ethereum surged by almost 5% on the announcement from VanEck, helping the entire industry feel some optimism.
The move higher allowed Ethereum to reach as high as $1,650 – where it stands at the time of writing;
Looking ahead, Ethereum would need to break resistance at $1,650 to meet the next resistance at $1,700 – provided by the July 2021 lows.
This is followed by added resistance at $1,736 (May 2023 lows), $1,790 (September 2022 highs), $1,815, and $1,900.
Finally, resistance is expected at $2,000 before a massive surge higher.
On the other side, support lies at $1,600, $1,588, $1,550, and $1,510 (March 2021 lows).
Crypto Staking Platforms Gain Attention From ETF Approval
The news of an Ethereum ETF has put staking platforms back into the spotlight.
As you may know, Ethereum recently upgraded to ETH 2.0, shifting the consensus mechanism into a proof-of-stake algorithm to introduce staking to Ethereum.
As a result, staking platforms are now the talk of the town as investors rush to get positioned in newly emerging staking concepts that are providing substantially lucrative APY returns.
Bitcoin Minetrix Brings Stake-to-Mine Concept to Crypto and Raises $180,000 With 6,200% APY.
Bitcoin Minetrix ($BTCMTX) continues to go from strength to strength as its presale raises a whopping $180,000 in just two days.
Investors rush to get positioned in this project because they believe it can overhaul the previously-exclusive cloud mining industry.
In addition, Bitcoin Minetrix is currently providing an astonishing 6,200% APY for stakers.
Bitcoin Minetrix introduces a stake-to-mine concept that lets investors buy and stake $BTCMTX to join a safe, secure Bitcoin cloud mining platform.
The project seeks to democratize Bitcoin cloud mining, allowing everyday investors to get started without investing in expensive equipment or covering hefty electricity costs.
To start mining, users have to stake their $BTCMTX to earn Mining Credits. These are non-transferrable ERC20 tokens that can be burnt in exchange for designated BTC cloud mining time – allowing users to earn $BTC from cloud mining.
Essentially, the project is tokenizing the cloud mining industry plagued by scam companies.
Tokenizing the industry allows investors to retain complete control of their funds through the entire process, as they can unstake their $BTCMTX at any time.
In addition, the Bitcoin Minetrix smart contracts ensure complete transparency, so miners know precisely how much they are owed.
The presale is just starting, selling the token for $0.011 in the first stage.
Those investing earlier benefit the most as they take advantage of the lower price tier. By the end of the presale, the price would have increased by 8% to $0.0119.
Funds raised in the presale will be used to launch the Bitcoin Minetrix platform and market the token.
Users can purchase $BTCMTX with ETH, BNB, USDT, or bank transfer.
Overall, Bitcoin Minetrix is combining two of the industry’s hottest trends: bitcoin cloud mining and staking. It’s set for explosive growth once the presale ends, providing you with the perfect opportunity to get in early.
Meme Kombat Continues Bullish Surge As Investors Expect All Meme Lovers to Flock
Another staking platform continuing its bullish surge is Meme Kombat ($MK), a groundbreaking gaming platform combining betting with staking.
Meme Kombat is a stake-to-earn meme coin with genuine utility that integrates AI to create a battle arena for mascots from prominent meme coins.
The innovative gaming platform allows for active betting and passive staking – providing rewards for everybody.
On the platform, players can enjoy exciting automated battles in the battle arena, which are brought to life using AI technology and dynamic visualization.
The battles involve popular meme coins duking it out, and randomized sequencing ensures the outcomes of games remain unpredictable and provably fair on-chain.
Participants can stake their $MK tokens to place wagers on the outcome of the battles through the Meme Kombat user-friendly interface.
All winnings are paid out automatically via smart contracts, which have been audited by Coinsult – the most respected security firm in the space.
Furthermore, the staking feature allows participants to earn up to 112% APY for just staking their tokens.
The team behind the project is also fully doxxed, causing a flurry of investment due to their credentials and prior experience.
Meme Kombat recently launched its presale, raising $120,000 in a few days.
The presale is selling the token at a discounted price of $1.667.
With 12 million tokens circulating, 50% are sold in the presale.
Then, 30% is reserved for staking and battle rewards, 10% for DEX liquidity, and 10% for community rewards to incentivize participation and community engagement.
Overall, Meme Kombat is bringing a new dimension to the meme coin industry, and experts believe it will soon become the umbrella project for all memes – giving it 100x potential for early adopters..
Meme coin lovers will flock to this project to see their favorite memes battle it out for supremacy, with the added incentive of earning rewards through betting.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com