5 Best Cryptos to Buy in Preparation for the Market Rally Following The Ethereum ETF Approval
The United States Securities and Exchange Commission (SEC) recently pushed forward the deadline surrounding the decision on the approval of digital asset management firm Grayscale’s Ethereum ETF. Through a filing that was published on March 22, the SEC noted that it would postpone the March 31 deadline to May 30. Then, they would decide if they would approve or not approve this Trust exchange-traded fund.
However, the Web3 community is optimistic about the outlook, and are already accumulating cryptocurrencies in preparation. The top five altcoins that have gained the most significant attention as a result of this include KangaMoon (KANG), Chainlink (LINK), Arbitrum (ARB), Immutable (IMX) and The Graph (GRT). Today, we will be taking a deep dive into each project and their on-chart performance to see which is the best crypto to buy that can see the most significant gains by the end of 2024.
Which Cryptocurrencies to Buy Today in Preparation for the Market Surge Following the Ethereum ETF Approval?
The following cryptocurrencies are the most-likely to provide significant ROI following the approval of the Ethereum ETF and should be a part of anyone’s crypto portfolio.
KangaMoon (KANG)
KangaMoon (KANG) is already dominating the charts and could soon reach exponential gains following the increased momentum and bullishness seen in the market. Specifically, this is an Ethereum-based platform and its native crypto follows the ERC20 token standard. Moreover, it's also undergoing its blockchain ICO, where it has gained a lot of appeal, as it combines Social-Fi elements and a community-driven approach. However, it also implements Play-to-Earn (P2E) features. Players can connect on a global scale, and challenge themselves in fights and tournaments in order to test skills and get rewards which incentivizes them to engage with the virtual world.
Another key feature behind the platform is its unique integration of non-fungible tokens (NFTs). Each player can get them through completing quests, or battling with other players. Anyone can even engage in community events to get rewards. Then, there’s a dedicated marketplace where anyone can buy, sell or even trade in-game items, characters and rare digital collectibles. This way anyone can monetize their time on the platform. Currently, the KangaMoon project is undergoing its blockchain ICO, where its price moved up from $0.005 to $0.014, signifying a 180% price increase. It's also raised $3,045,923.02, and could soon break above $3.5 million. As a result, analysts are bullish on its future and project that it can spike as high as 5,000% by the end of Q4, 2024. These aspects position KANG as the best crypto to buy for 2024.
Chainlink (LINK)
Chainlink (LINK) gained a high reputation by being the go-to oracle network which can put real-world data to smart contracts that operate on to pof a blockchain. As a result, many developers find real usage for its network, and this has sparked high demand for the LINk crypto.
When we go over its on-chart data, the year-to-date (YTD) climb for the Chainlink crypto was by 170%. Moreover, within the past week, the Chainlink price also experienced a massive increase, where it went from a low point of $16.54 to a maximum value of $19.24. As a result, sentiment is bullish about its future, and according to the Chainlink price prediction, it can reach as much as $27.15 by the end of 2024. As a result, it's also the best cryptocurrency to buy today.
Arbitrum (ARB)
Arbitrum (ARB) as a network is designed to operate as a Layer-2 protocol for Ethereum that enhances its scalability. As a result, it can make Ethereum quicker, more affordable, and a lot more appealing. Since it is connected to the network in such a way, many speculate that following the ETF approval, the Arbitrum price also has the potential to experience a price upswing.
During the past year, the price of Arbitrum has increased 37%. Moreover, on a weekly level, the crypto moved upwards from a low point of value of $1.48 to a maximum value at $1.79. According to the Arbitrum price prediction, it can end 2024 at a value of $2.63.
Immutable (IMX)
Immutable (IMX) is a Layer-2 scaling solution for non-fungible token (NFT) projects built on Ethereum. It specializes in the NFT space by offering zero gas fees, carbon neutrality and even high throughput. It utilizes StarkWare's zero-knowledge-proof technology, Starkey, in order toachieve these traits. For those curious about which crypto to buy today for long-term, Immutable has also displayed bullishness in a prolonged time-period.
The price of Immutable has exploded on the charts during the past year, as its YTD climb has been by 179.3%. The crypto’s value also spiked during the previous week as it went from a low point of $2.53 to a maximum value of $3.04. Now, the sentiment on its future is also massive, as according to the Immutable price prediction, it can end 2024 at $5.29. As a result, its positioned as the best crypto to invest in now.
The Graph (GRT)
The Graph (GRT) has also made waves among Web3 circles as its an indexing protocol responsible for organizing and then accessing data from blockchains and even storage networks. It enables developers to search, find, publish and even utilize any public data that they require when developing decentralized applications (dApps).
Moreover, during the past year, The Graph price went up 180%. In the past month alone its also up 45.7%, and during the past week it went up from a low point of $0.3597 to its highest value at $0.4091. Yet, based on The Graph price prediction, it can end 2024 at $0.5741, and traders see it as the best crypto to invest in.
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