The SEC’s surprise move to push Ethereum (ETH) spot ETF applications to the next stage has Ethereum on a tear. And while the recent climb to $3800 feels overdue, we also know that its a far cry from ETH’s $4680 top at the height of the last run.
So what happened? And when will the altcoin market moon?
2024 was always going to be a big year for crypto, what with the Bitcoin Spot ETFs and Bitcoin’s traditionally bullish halving event. The Bitcoin Spot ETFs cement cryptocurrency’s spot as a legitimate financial instrument, and the billions invested already show how hungry institutional investors are.
All this extra money flowing into crypto means that a lot of profit taking is happening. Therefore its good to have an eye on new coins that can provide huge gains for a small investment. A distributed portfolio with a mix of small cap coins with blue chips is the way to wealth.
Read on to find out Ethereum’s ETF impact, and learn about a new project in presale that aims to increase retail and institutional access to trading different financial products.
Ethereum ETF Approvals Shake Up Summer, Billion Dollar Inflows Expected
After months of silence on the Ethereum front, following January’s spot Bitcoin ETF greenlighting, the watchdogs have opened the gates for ETH funds to potentially hit markets as soon as this summer.
The crypto research firm K33 is forecasting these new Ethereum funds could reel in $5 billion in inflows over just the first five months of trading. We’re talking potentially over 1 million ETH being scooped up – a massive supply shock of up to 1% of the total supply changing hands.
K33 came to this billion-dollar forecast by looking at the relative sizes of current Ethereum products like ETFs and futures contracts compared to their Bitcoin counterparts. With institutional demand for Ether futures already at 23% of Bitcoin’s, they see a bullish future.
The question is where are these investors going to invest their profit? Read on to find out about a new intriguing coin in presale.
When Will it be Altcoin Season? And What to Pick?
Even if you don’t own any Bitcoin or Ethereum (and you should!), there’s a good reason to be excited about the bullish effects the ETFs are having on ETH and BTC price action.
Why’s that?
- Money moves first into these large cap coins,
- This boosts the whole crypto ecosystem,
- Investors observe their Ethereum and Bitcoin are worth more,
- They redistribute their portfolio to increase exposure to riskier assets.
So far altcoin season has been suppressed as money flows are focused into the ETFs. However, following the pattern above, we see that soon this should all change.
And that’s where a new decentralized exchange and trading platform, DTX exchange, comes in.
Could this Hidden Gem be The Next Token to the Moon?
There’s a lot to appreciate about DTX exchange. It’s designed to give you all the benefits of a trading platform like IG where you can trade stocks, bonds, ETFs and other financial products like futures. But its also a DEX that gives you access to crypto and more.
Due to it’s decentalized nature, users don’t have to pass KYC or reveal other personal details. And they can trade regardless of regulations where they live.
With better leverage than other exchanges, and a wider choice of assets (over 120!) from forex to CFDs, DTX Exchange’s future looks bullish.
DTX is currently in the second stage of its presale at $0.04. The price will climb to $0.06 once this stage sells out, and is projected to launch at $0.12.
Given that the project has already attracted $650,000 of investment, and centralized exchanges like Binance (BNB) have just hit an all time high, the current price increase of 500% from the first stage, is probably just the beginning of a much bigger rally.
Learn more:
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.