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Grayscale's recent win over the US SEC for a spot Bitcoin ETF affected the crypto market positively as several tokens saw upward price movements. In this article, we will explore three tokens that could soar after a Bitcoin ETF approval. They include Solana (SOL), Bitcoin Cash (BCH), and Kangamoon (KANG).
Solana soars despite FTX's upcoming crypto dump.
Bitcoin Cash has benefited from Bitcoin ETF-related news.
Kangamoon will soar 350% after listing on exchanges, says analyst's.
Don't Miss Out On The Kangamoon (KANG) Presale – Reserve Your Spot!
On Wednesday, Judge John Dorsey granted defunct FTX approval to sell $3.4 billion in Solana, Bitcoin, Ethereum, and other assets. According to a court filing submitted on Monday, FTX possesses $1.2 billion in the Solana coin.
Since July when the case picked up pace, the price of Solana has been on a decline, dropping from $28.4 to as low as $18. Fortunately, crypto analyst, Michaël van de Poppe has revealed that the tokens are mainly staked and cannot be sold.
In addition, with the spot Bitcoin ETF approval gaining traction, experts see Solana benefiting indirectly from the news. They have forecasted Solana to hit $21.95 in the coming weeks.
On June 26th, Bitcoin Cash reached a 2023 high of $228.72. This remarkable surge of 150% since May positioned it as one of the top-performing currencies worldwide.
This impressive ascent was heavily influenced by cryptocurrency news related to prominent entities with their Bitcoin ETF applications. Consequently, this news played a pivotal role in propelling the rally. A report from Santiment shows that BCH has benefited hugely from ETF announcements.
When Bitcoin rallied 7% after Grayscale's victory on August 29th, Bitcoin Cash price skyrocketed by about 20%. Another rally ensued as Franklin Templeton filed for a spot Bitcoin ETF. Despite the bearish state of the crypto market, analysts believe the price of Bitcoin Cash has potential and could soar after Bitcoin ETF approval.
Solana and Bitcoin Cash are not the only ones that will benefit from a Bitcoin ETF approval. Kangamoon is another crypto that would see more price upticks and increased adoption if this happens.
Kangamoon is more than just an emerging meme coin. The platform incorporates play-2-earn elements, providing a unique opportunity for players to profit from their gaming experiences. In this virtual universe, players will step into the shoes of Kangamoon, a spirited kangaroo famous for its boxing skills.
As they progress, players have the chance to upgrade their characters by developing special abilities. The platform offers an international stage for collaboration, allowing players to connect with peers worldwide. They can participate in matches, exclusive events, and exhilarating tournaments to earn KANG tokens.
Players can sell these digital assets in the platform's marketplace. Notably, Kangamoon plans to surpass established meme coins like Shiba Inu and Dogecoin with its gaming ecosystem. Currently, Kangamoon tokens are available at an enticing price of just $0.005.
Website: https://Kangamoon.com/
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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.
