The U.S. SEC has approved eight Ethereum ETF applications. This is a monumental milestone for Ethereum and the crypto market and could trigger a bull run going into June. Two projects that could see huge returns from this are Rollblock and Avalanche. Both altcoins have seen steady gains over the last month, and this bullish news could trigger additional rallies.
The SEC Accepts Ethereum ETF Applications
On May 23 the US Securities and Exchange Commission (SEC) accepted eight Ethereum ETF applications. These include applications from BlackRock, Grayscale, Bitwise, VanEck, Ark Invest, 21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton.
According to the SEC, these applications meet standards to prevent fraud and manipulation, as well as defend public interest. Since this announcement, Ethereum’s price has decreased by 2.94%, though Ethereum’s daily trading volume has surged a massive 100%.
At the time of writing, Ethereum had a daily trading volume of $47.44 billion and had overtaken Bitcoin to become the second most traded cryptocurrency in the world. While this is likely to be a temporary shift, it shows that investors are bullish about Ethereum’s potential.
Avalanche Prepares For $40
Avalanche (AVAX) has consolidated at the $30-39 range over the last month. Prior to this consolidation, Avalanche had soared to over $60. However, due to bullish market pressure, Avalanche faced a steep correction, taking it as low as $30.
Presently, Avalanche is trading at $37.69, and its daily trading volume has increased by 47% over the last 24 hours. This bullish activity suggests that investors are preparing for Avalanche to increase to $40, though some experts believe it could return to its March high of $60.69.
Given the introduction of a new cryptocurrency ETF, the market is building bullish momentum that could take Avalanche above $60 to a new annual high.
Rollblock Could Soar Following ETF Approval
The latest ETF approval is great news for altcoins as it shows that governments are starting to accept cryptocurrency. As a future pioneer in the gambling industry, Rollblock is making waves in the crypto space with a new lucrative project with high potential. This innovative GambleFi protocol looks to solve issues with security and scalability in the $450 billion gambling market.
To do this, Rollblock introduces a DeFi casino. Its casino is already live and has all the required licensing. Players can use over 20 cryptocurrencies to enjoy over 150 different game modes, including poker, slots, and roulette. Rollblock also plans to add sports betting to the platform.
In addition to profiting from bets, players who hold $RBLK tokens can also profit from Rollblock’s revenue share initiative. Rollblock will incentivize token ownership by rewarding holders with up to 30% of its daily revenue.
To share revenue, Rollblock will buy back $RBLK tokens from the open market. It will use half of the tokens it buys for weekly rewards and burn the remaining 50% to create scarcity.
The Rollblock presale has already become a global hit. Stage one sold out in less than a week, and over 46% of stage two is already sold out. To get involved, investors can buy $RBLK tokens for $0.012. Experts predict that tokens could see returns of 720% during the Rollblock presale, and as a result, its current price is a huge bargain.
Rollblock: A New DeFi Pioneer
Historically, cryptocurrency pioneers have offered fantastic returns, and Rollblock is no different. As the project gains traction, experts believe it could see huge gains, potentially rising into the world’s top 50 ranked cryptocurrencies by the end of the year.
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