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Elon Musk’s considerable influence extends into crypto. The billionaire’s endorsements have been known to spark price increases for certain cryptocurrencies.
This has made experts speculate on the effect of Elon Musk’s endorsement of Bitcoin on the crypto market, specifically three Ethereum tokens: RCO Finance (RCOF), Arbitrum (ARB), and Render (RNDR).
What makes these Ethereum tokens prime candidates for a spectacular surge should Musk endorse BTC? Let’s find out!
RCO Finance is the first on this list because of its revolutionary use case, lucrative presale, and growth potential. Its core selling point is its decentralized trading platform, which allows traders to invest directly in RWAs with their crypto and without going through brokers.
Traders can access over 120,000 assets, including stocks, bonds, commodities, ETFs, and real estate.
The protocol’s trump card is its AI robo advisor, which utilizes complex algorithms to analyze the market and provide actionable insights to traders. It can also help them execute traders. This robo advisor improves profitability by reducing the effect of human error and bias and eliminating the cost of hiring human advisors.
Another major aspect that puts RCO Finance at the top of the list is its lucrative presale. RCOF, its native token, is expected to rise by 3000% between presale and launch. Elon Musk’s BTC endorsement could also lead to an astounding post-launch pump.
Finally, RCO Finance prioritizes privacy, safety, and reliability with its no-KYC policy and smart contracts audited by SolidProof.
Arbitrum was affected by the market slump some weeks ago, losing 4% over the past month. However, as the late July 2024 date for the approval of five Ethereum ETFs draws closer, ARB is regaining ground lost during the dump, gaining 4.6% in the past week. This growth has also affected Arbitrum’s total value locked (TVL), which has risen by 10% to $3.25 billion in the past week.
Analysts say that when the Ethereum ETFs eventually start trading, ARB could become one of the top-performing cryptocurrencies. Elon Musk’s expected endorsement of Bitcoin could create an unprecedented price surge for ARB, raising the token to $3.71 before 2024 ends.
After a stellar surge in Q1 2024, fuelled by AI hype, saw RNDR cross $13, unfavorable market conditions have seen the token fall to half its previous height. However, the network is showing signs of a resurgence. Daily active addresses have risen to their highest since the end of Q1 2024.
Analysts say this increase in daily active addresses might be linked to Render’s approaching token swap from RNDR to RENDER. Top exchanges like Binance have already announced their support for the token swap, which will happen in late July 2024.
Experts say Elon Musk’s expected Bitcoin endorsement might combine with the increased interest in RNDR around the token swap to create a spectacular pump. They say this could push the Ethereum token to $32 in 2024.
RCO Finance’s revolutionary integration of artificial intelligence into a decentralized exchange makes it one of the most attractive Ethereum tokens. However, RCO Finance also offers many more exciting offerings.
For example, traders can earn additional income from lending their tokens and providing liquidity for the numerous trading pairs. They can also use a debit card to complete transactions across DeFi and TradFi.
Interested traders can access all these by purchasing RCOF, the native token, for $0.0127 in Stage 1 of the ongoing presale. They will earn a massive 30x profit when RCOF rises to $0.4 at launch.
Other perks of owning RCOF are significantly reduced trading fees, rewards for staking the token, voting rights, and regular dividends. Therefore, RCO Finance is well-placed to benefit from Elon Musk’s possible endorsement of Bitcoin.
For more information about the RCO Finance Presale:
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
