The London Stock Exchange (LSE) has begun trading Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs), potentially paving the way for the United Kingdom to become Europe’s crypto hub, based on Alex Pollak, the head of UK for 21 shares. Based on the latest Yahoo Finance report, the ETNs are traded and settled just like regular shares, but they track the price performance of the underlying assets, in this case, BTC and ETH.
As a result, sentiment on the future of the broader Web3 space is now in full effect, as bullishness could result in major price rallies, and traders are diversifying with altcoins such as KangaMoon (KANG), Avalanche (AVAX), Cardano (ADA), Render (RNDR) and THORChain (RUNE). We will analyze their on-chart performance to see just how far each crypto can climb in 2024 and beyond.
Best Altcoins to Accumulate Following Bitcoin and Ethereum ETF's Approvals in the United Kingdom
We will now take an in-depth look and dive into each one of these altcoins to determine which one can see the most substantial gains in 2024 and beyond, and provide massive ROI for traders.
1. KangaMoon (KANG) Can Dominate the Charts With a Synergy Between Play-to-Earn (P2E) and Social-Fi
KangaMoon (KANG) distinguishes itself within the cryptocurrency landscape by implementing a synergistic combination of Play-to-Earn (P2E) and Social-Fi functionalities, which has fostered a dynamic ecosystem in which users can get more KANG tokens just by participating across various social media platforms. This strategic integration also incentivizes user engagement and organically cultivates growth through token distribution. KANG even incorporates a P2E game that allows players to engage in competitive battles and tournaments, with the potential to get KANG as a reward and offer the token major utility.
The project’s success is reflected in its recent presale performance, as KangaMoon has raised $7.5 million, with analysts projecting that it can reach $8 million by the end of the month. In addition, the crypto is up 400%, rising from $0.005 to its current price of $0.025. KangaMoon’s credibility is also bolstered by its presence on established cryptocurrency tracking platforms like CoinMarketCap and CoinGecko, empowering investors with comprehensive price analysis tools. Additionally, a planned listing on the prominent centralized exchange (CEX) BitMart signifies the project's commitment to wider accessibility and mainstream adoption. During the Bonus Presale stage, anyone can get KANG at $0.025, which marks the last opportunity before a major price-spike of 100x following its launch based on analyst projections, positioning KANG as one of the best altcoins to invest in during 2024 and beyond.
2. Avalanche Price to Surge Following Particle Network Integration
Avalanche (AVAX) recently expanded its ecosystem as Particle Network announced that Chain Abstraction will come to its network. They will bring Universal Accounts to the Avalanche ecosystem enabling anyone to use any decentralized application (dApp) on top of the network with tokens from any other network. As a result the Avalanche crypto demand could increase further, and enable it to reach new heights.
According to the Avalanche price chart, the crypto is up during the past week as it passed the $40 price barrier. Based on the Avalanche price prediction, the furthest point it can reach in 2024 is at $53.11, making AVAX one of the best altcoins to buy.
3. Cardano Crypto on the Rise As Intersec Joins Hyperledger and Linux Foundations
Cardano (ADA) also reached the spotlight, as its member-based organization, Intersect, joined the Hyperledger Foundation and Linux Foundation to strengthen its open-source strategy for Cardano. As a result, sentiment in the future for the Cardano crypto has increased in a positive direction and this could pave the way for further price gains. In the past week, the Cardano price increased 20% and is now above the $0.48 price range, making $0.50 the next major price barrier that it needs to pass in order to reach new heights. According to the Cardano price prediction, the crypto could see an exponential rise to $0.6416 by the end of 2024.
4. Render (RNDR) Rises Above $10 – How Far Can It Reach in 2024?
Render (RNDR) is at an uptrend and could soon reach new heights, especially as earlier this month its technology, OctaneX, was featured on Apple’s Keynote event. The Render crypto then surged in value above the $10 price barrier, and it is poised to see further growth during the upcoming trading sessions.
According to the on-chart data, the Render price needs to pass $15 in order to reach new heights, and this is possible due to the positive RSI and MACD data points. According to the Render price prediction, it can end Q4 of 2024 at $14.68, positioning RNDR as one of the best altcoins to buy.
5. THORChain (RUNE) Up to $7 – Can It Reach $10 Next?
THORChain (RUNE) has also experienced a major jump in appeal, as CacaoSwap announced that Streaming Swaps will come to its network. As a result, the THORChain crypto could see increased usage due to the expansion of its ecosystem.
Moreover, according to the on-chart metrics, the THORChain price surged 10% in the past week and moved above the $7 range. Now, $10 marks the next major resistance, and based on the THORChain price prediction, it can end Q4 of 2024 at $10.90.
Why the United Kingdom's Approval of ETNs Is Huge and Why These Altcoins Could Be Next
The United Kingdom’s approval of ETNs could increase interest in cryptocurrencies within the region, and it could become Europe’s crypto hub, resulting in a massive influx of new potential traders. Based on the latest on-chart metrics, Avalanche (AVAX), Cardano (ADA), Render (RNDR), and THORChain (RUNE) have all showcased bullishness on the charts and, at this rate, could soon reach new heights. In the meantime, however, KangaMoon has risen 400%, and with its presale momentum, is poised to soon raise over $8 million and become a major player in the industry. With a 100x price increase potential, it's one of the best altcoins to invest in.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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