According to James Seyffart, a Bloomberg analyst, there is a possibility that the US SEC could grant approval to all Bitcoin spot applications at once by January 10, 2024. Market experts have picked Binance Coin and Litecoin as potential coins to see a massive surge after the approval.
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Binance Coin (BNB) Looking At Potential Rally
Last week, the price of Binance Coin experienced an uptick, reaching a peak of $275. This increase was short-lived, resulting in a bearish candlestick pattern with a long upper wick. This decline occurred shortly after Binance CEO Changpeng Zhao resigned.
The price of Binance Coin dropped below $230, ranging between $230.78 and $235.57, according to statistics from CoinMarketCap. Technical indicators point to a potential rebound in the upcoming weeks.
In order to trigger a significant rebound, the bulls would have to raise the price over the 20-day ($235). After that, Binance Coin might rise to $265, where bears might once more put up a fight.
How Will Litecoin (LTC) Perform on a Bitcoin Approval?
Litecoin (LTC) has been a longstanding leader in the world of cryptocurrencies. It was originally conceived as the “silver” to Bitcoin’s “gold” due to the speed of the Litecoin blockchain. Litecoin boasts a faster block generation time and a total supply of 84 million coins.
What sets Litecoin apart is its efficiency in fast and cheap transactions. This made it a preferred choice for everyday users, same with its native token. According to CoinMarketCap, Litecoin is the 17th largest token with a market capitalization of $5.1 billion.
While Litecoin price movements have been bearish in 2023, analysts have forecasted a major rally when a spot Bitcoin ETF is launched. Analysts gave a bullish Litecoin forecast of $100 within one month after the Bitcoin ETF was greenlighted by the SEC.
Meme Moguls (MGLS) Gears for Rally As Spot Bitcoin ETF Approval Nears
Apart from Binance Coin and Litecoin, Meme Moguls (MGLS) was another token that had the potential to surge in value after the approval of the Spot Bitcoin ETF. Meme Moguls plans to introduce the very first meme trading exchange platform.
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This platform would provide a range of resources that draw inspiration from viral memes. These meme-inspired assets featured popular internet figures such as Pepe the Frog, the Shiba dog, and the most recent social media viral phenomena. Users would get access to professional insights and real-time data to make well-informed meme investments.
The project has recognized the importance of community involvement in discovering the next big meme trends. Consequently, it cultivated a vibrant community of meme enthusiasts. Another fascinating feature of Meme Moguls was the chance to acquire special NFTs. These NFTs are integrated into actions on the platform.
The MGLS token is used to facilitate trading and reward stakers with passive income. At present, the MGLS coin has transitioned into stage one, with its price moving from $0.0019 to $0.0021. Market analysts have foreseen a potential 100x surge in the coming months.
For more information about the Meme Moguls (MGLS) presale:
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