Anticipation grows around the SEC approving Ethereum ETFs. Prices of Ethereum, KangaMoon, Terra Classic, Floki, and Kaspa are expected to rally in 2024.
The crypto market is still waiting for the US SEC to approve the Ethereum ETFs which have been a subject of discussion for so long. The regulator has been delaying its decision, saying that it requires more time to compare the various ETF applications from firms such as Galaxy, Ark Invest, and Franklin Templeton among others.
However, these firms have seized this opportunity to make some amendments to their applications to enhance the approval odds. On the other hand, investors have been searching for the best altcoins to invest in as they anticipate a spot Ethereum ETF approval to drive the prices up.
Bloomberg analysts Eric Balchunas and James Seyffart, recently increased the chances for a spot Ethereum ETF approval from 25% to 75% recently. This came after they heard rumors that the regulator might make a u-turn and approve all Ethereum ETFs.
Based on this perspective, most market analysts are positive that a major rally is soon to happen because of the likelihood of the approval of ETH ETFs. The following are the five best altcoins that one should look at before the approval of the ETH ETF. — Ethereum, KangaMoon, Terra Classic, Floki, Kaspa.
KangaMoon (KANG) — one of the top altcoins of 2024, has become a top favorite among investors as they await the regulator’s decision on spot Ethereum ETF. What contributed to the growth of the project’s popularity was its decision to develop a completely new Social-Fi protocol. This new protocol is more focused on the community, creating an opportunity for users to get rewarded based on interaction.
The Social-Fi approach of KangaMoon has attracted much attention in the crypto industry and enabled it to attract over $7 million during the presale period. Mainstream status is something that many analysts think KangaMoon can earn due to Social-Fi’s emphasis on community over other DeFi projects.
Community members will be rewarded for completing tasks in the ecosystem, including interacting with social media posts and spreading awareness about the project. Besides, KangaMoon will launch an entertaining P2E game where people can participate in several tournaments, competitions, and missions to get KANG tokens. It will host several weekly and monthly events which will be of great benefit to the gamers in that they will be able to make lots of money.
However, that is not all, KangaMoon also has something for those people who do not like games. KANG enables them to bet and also get a payoff if they have identified the right member. For those who desire to participate in these activities, they have to own the KANG token. Analysts have predicted a 100x gain for investors after its listing on exchanges in 2024, making KANG a top crypto to buy.
Ethereum (ETH) is the best cryptocurrency to invest in right now as an Ethereum ETF continues to loom on the horizon. Currently, the price of Ethereum is up on the monthly price chart with a gain of 15.29%. The altcoin has been fluctuating between $2,815.92 and $3,943.55 during this period.
Though there have been issues with the approval of a spot Ethereum ETF by the SEC, the crypto community still holds onto hope. A number of analysts have forecasted an upward trend to $5,000 in the near future for Ethereum. This means ETH is one of the best altcoins to watch since Standard Chartered has set its target at $8,000.
Terra Classic (LUNC) was initially volatile after it suffered from the collapse of its ecosystem. The altcoin has become very strong and stable in the last few months all because of the support from the team. They have gone on a release spree, the new updates and projects, all in the name of attracting investors.
Also, the Terra team, with support from Binance, has been burning large amounts of LUNC in the past few months with billions of LUNC coins burnt so far. Surprisingly, their efforts have yielded results. The Terra Classic price has increased by 25% on the yearly chart. Different analysts have varying views on the price of this crypto; nonetheless, the forecasted price is expected to increase up to $0.000223 later this year.
After a rather lackluster 2023, Floki (FLOKI) is experiencing some upward action on the price charts. Experts have described it as one of the meme coin giants in the market based on its current activity. At the same time, the Floki team has recently burned more than 15 billion Floki as part of the plan to decrease the circulating amount.
Currently, the Floki coin is ranging between a monthly low of $0.0001442 and a peak of $0.0002445 with a profit of 10.0%. Over the course of one year, Floki’s price has gone up by 604%, which makes it a very good meme coin to have. Experts have forecasted that the meme coin will achieve a price target of $0.0003845 in the months to come.
Kaspa (KAS) is one of the underrated coins in the market, not gaining as much attention as most top altcoins. The Kaspa market cap, in the last year, has increased to over $3.2 billion. The Kaspa coin has gained more than 900% in terms of price, which shows a better return than most altcoins.
While Kaspa coin price has dropped in the past few weeks, it is just 27.3% below its all-time high of $0.189. It reached this peak in February 2024 before falloff under bearish pressure. Moving forward, market experts have cited $0.189 and $0.244 as potential price targets for Kaspa.
The US SEC could greenlight Ethereum ETFs anytime from now and smart investors are taking advantage of the delay to buy altcoins like Ethereum, KangaMoon, Terra Classic, Floki, and Kaspa. From this list, analysts have tagged the presale token KangaMoon as a top crypto to buy, especially for those who are looking for a new crypto with the potential to invest in.
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