The Ethereum ETF is generating quite a buzz in the cryptocurrency market, and traders are eager to jump on the opportunity. By diversifying their portfolios with promising altcoins, they hope to capitalize on the potential approval. In today’s article, we’ll go over five top altcoins that stand to benefit from this decision with KangaMoon (KANG) at the forefront.
The Best Altcoins to Buy Before ETH ETF Approval
KangaMoon (KANG)
Market Cap: $14M
We believe KangaMoon (KANG) is the top altcoin to watch before the Ethereum ETF approval. This innovative crypto will tap into the Play-to-Earn (P2E) gaming market, which Yahoo Finance projects will reach a value of $885M by 2028. It is now in Stage 4 of its presale and has already provided early buyers a 180% ROI.
Additionally, global buyers are drawn to it, as shown by KangaMoon’s raising over $2.8M so far. Projections paint KangaMoon, hitting $3M before March 2024 ends. Demand for this altcoin is sky-high. KANG is the main currency used for KangaMoon’s upcoming P2E game. With KANG, you can buy in-game items or even upgrade your characters.
In addition, KangaMoon makes it a point to give back to the community. Before the official launch of its altcoin, KangaMoon rewards active community members with free KANG tokens. In other words, those who like/comment/reshare KangaMoon’s social media posts will earn free KANG during its presale.
At the moment, one KANG costs just $0.014. However, remember that this is a Stage 4 presale price; as it advances, more price pumps will occur. Market analysts predict a 100x jump for KANG within Q2 of 2024 once it lists on a significant Tier-1 CEX. Due to all these reasons, KANG is one of the top altcoins to focus on in 2024.
Solana (SOL)
Market Cap: $76B
Solana (SOL), the high-performance blockchain platform, has recently picked up steam. It’s very scalable, which makes it a perfect candidate to become one of the top altcoins. Solana’s growing popularity makes it a no-brainer for those looking to buy altcoins.
Recently, the Solana price has been on the rise. According to CoinMarketCap data, its value rose from $103 to $171 in the last 30 days, and its market cap also increased from $44B to $76B. As 23 technical indicators show green for this altcoin, experts have made a bullish price prediction. They foresee the Solana crypto reaching $251 within Q2 of 2024.
Cardano (ADA)
Market Cap: $21B
Cardano (ADA) is often called a “third-generation” blockchain platform. With scalability, interoperability, and sustainability features, it’s no wonder why. With the anticipation for Ethereum ETF approval growing by the minute, Cardano’s potential for long-term growth remains promising.
The Cardano price movement jumped from $0.56 to $0.61 over the past month. Moreover, the technical analysis for this altcoin paints a bullish picture. For instance, the Cardano crypto is now trading above its 100—and 200-day EMAs. Thus, market analysts predict ADA trading at $0.83 before Q2 of 2024 ends.
Polkadot (DOT)
Market Cap: $12B
Polkadot has become a top-tier altcoin contender due to its commitment to scalability and multi-chain architecture. The platform offers great versatility for everyone involved. That said, developers and users will find the platform extremely easy to use. With Ethereum ETF approval set to arrive soon, people are taking notice of Polkadot’s interoperability features.
The Polkadot price has also been on an uptrend recently. In the last 30 days, DOT’s value pumped from $7.37 to $8.96. Additionally, 20 technical indicators are showing green for this altcoin. Moreover, Polkadot is now trading above its 50 and 100-day EMAs. As a result, experts in the crypto field predict Polkadot surging to $0.85 within Q2 of 2024.
Aptos (APT)
Market Cap: $6.52B
Aptos (APT), one of the fastest-rising altcoins, is making its mark in the DeFi space. It is an L1 blockchain platform that has two goals: improving scalability and security. This has made Aptos very popular with buyers looking to explore altcoins.
The Aptos price has increased from $9.11 to $16.54 on the 1-month chart. Additionally, its market cap surged from $3.32B to $6.52B in that period. The technical analysis for this altcoin also paints a bullish picture as Aptos now trades above its 21- and 50-day EMAs. Thus, experts predict the Aptos price will reach $20.27 within Q2 of 2024.
What Fuels the Growth of Altcoins?
Regulatory Environment: The rules surrounding altcoins can make or break them. Traders will react to the news of how they’ll be regulated in their way, and it’s impossible to predict. At its best, a good set of regulations will light the altcoin market on fire.
Utility: Altcoins that are actually used in the real world and adopted by many people are more likely to grow at a sustainable rate. This is because they show usefulness and value beyond speculation.
Project Fundamentals: Good project fundamentals can give investors confidence in altcoins and make them more valuable. For example, a strong team, an engaged community, and partnerships will pay off.
Market Speculation: When traders speculate on a certain altcoin, its value could go up or down. They could cause some pretty significant price moves.
Technological Innovation: Altcoins often improve on what already exists. In other words, they bring useful features that are bound to excite traders globally.
Strategies for Investing in Altcoins
When looking to invest in the best altcoins, formulate a sound investment plan with well-thought-out entry and exit points. Try to stay in the know with market news, but be mindful of social media platforms, as they can sometimes promote impulsive behavior. Here are some effective investment strategies to consider while we wait for the Ethereum ETF approval.
Technical Analysis
Before you buy an altcoin, perform a technical analysis of it. Decode entry and exit points based on price charts, indicators, and trading volume. Look at support/resistance levels and technical indicators such as an altcoin’s RSI or MACD line.
Dollar-cost averaging (DCA)
Buyers should also consider using a dollar-cost averaging (DCA) strategy. By consistently investing in altcoins at different price points over time, the impact of market volatility can be lessened.
Long-Term Growth Potential
Instead of chasing quick gains, put your energy into altcoins that have a healthy foundation, well-thought-out ideas, and the potential for future growth. Often, these are the best altcoins to invest in.
Risk Mitigation
The best way to avoid losing a lot in the altcoin market is not to take significant, wild risks. Do this by setting up fail-safes like stop-loss orders or taking profits at certain levels.
Keep Emotions Under Control
Don’t let fear or greed dictate your investment choices. Stay disciplined and stick to your strategy, even during market instability.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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