Since the Bitcoin Spot ETF approval, all eyes have turned to Ethereum. Because this is the next logical currency to receive institutional investment if an Ethereum Spot ETF is approved. This has caused the price of ETH to skyrocket and an Ethereum whale has apparently used some of their profits to buy into a new project that has the potential to do a 30x – Meme Moguls. Read on to find out more.
Ethereum Spot ETF Delayed While Meme Moguls Surges
Ethereum investors are eagerly awaiting the approval of a spot ETF in 2023, which would allow mainstream capital to directly access ETH exposure. Yet the SEC continues dragging its feet, according to political analysts.
Investment bank TD Cowen now expects the Commission to push an Ethereum spot ETF decision to late 2025 at the earliest. The rationale comes down to politics rather than principles.
SEC Chair Gary Gensler caught flak from progressive Democrats for greenlighting a Bitcoin spot ETF in 2021. Approving an Ethereum product could provoke further intraparty backlash.
Despite major financial institutions like BlackRock and Fidelity joining the stampede of ETF applications, TD Cowen believes Gensler sees no incentive to sign off before the 2024 elections conclude.
Yet some crypto leaders remain confident approval could arrive sooner, perhaps by May 2023. Until regulatory clarity emerges, massive fund inflows into Ethereum remain stalled.
In the meantime, that uncertainty has directed investors’ attention to digital asset categories facing less obstruction, Namely gaming, metaverse, and meme coin projects with presales unlocking huge upside potential.
One example is Meme Moguls (MGLS), a play-to-earn platform intermixing memes with fantasy trading. A notable Ethereum whale has been sighted talking about the project and their investment in it.
Calling turtles, dolphins and whales – Meme Moguls
If the Ethereum Spot ETF is successful, ETH could easily surpass its all-time high of $4650, perhaps going as high as $10,000.
That’s a tidy 2x, but for those looking for bigger profits, a newer project is needed with more potential upside.
By targeting the intersection of two red-hot themes in memes and Web3 gaming, Meme Moguls offers traders the potential for exponential gains as they await an Ethereum ETF green light.
Players will compete against each other to become the best fantasy traders and also do challenges and in-game quests to win meme-based NFTs that level up their characters. In their Telegram the team are teasing that a video of the gameplay will be available soon. Naturally, there is some risk with new projects, but the reward is suitably great, as analysts suggest its token could easily surge 30x from the current presale price of around $0.0036.
With a supply of three billion dollars, the FDV is around 10 million currently, meaning that the project has a lot of room to grow. Team tokens (8% of the supply) will be locked for two years, reducing sell pressure when the project goes live on CEXes and DEXes.
The current stage of presale is already 50% sold out at the time of writing, and if more Ethereum whales enter the space then it will not be long until the presale is complete. MGLS is already up by 90% since November 2023.
DISCLAIMER: CAPTAINALTCOIN DOES NOT ENDORSE INVESTING IN ANY PROJECT MENTIONED IN SPONSORED ARTICLES. EXERCISE CAUTION AND DO THOROUGH RESEARCH BEFORE INVESTING YOUR MONEY. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We strongly advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the readCaptainAltcoin is not liable for any damages or losses from using or relying on this content.
