Mon. Jul 22nd, 2024

Approval of Ethereum ETF Could Spark Rally: Investors Rush to Buy These Two Altcoins

By Vaseline May27,2024
Approval of Ethereum ETF Could Spark Rally: Investors Rush to Buy These Two Altcoins

The US SEC has approved eight Ethereum ETF applications. This is a monumental milestone for Ethereum and the crypto market and could spark a bull run until June. Two projects that could achieve a large return from this are Rollblock and Avalanche. Both altcoins have posted steady gains over the past month, and this bullish news could spark additional rallies.

The SEC is accepting Ethereum ETF applications

On May 23, the US Securities and Exchange Commission (SEC) accepted eight Ethereum ETF applications. These include applications from BlackRock, Grayscale, Bitwise, VanEck, Ark Invest, 21Shares, Invesco Galaxy, Fidelity and Franklin Templeton.

According to the SEC, these applications meet standards to prevent fraud and manipulation and to defend the public interest. Since this announcement, Ethereum’s price has fallen by 2.94%, although Ethereum’s daily trading volume has increased by a whopping 100%.

At the time of writing, Ethereum had a daily trading volume of $47.44 billion and had overtaken Bitcoin to become the second most traded cryptocurrency in the world. While this is likely a temporary shift, it shows that investors are optimistic about Ethereum’s potential.

Avalanche prepares for $40

Avalanche (AVAX) consolidated around $30-39 over the past month. Before this consolidation, Avalanche had risen above $60. However, due to bullish market pressure, Avalanche suffered a steep correction, dropping its price to $30.

Currently, Avalanche is trading at $37.69, and its daily trading volume has increased by 47% in the last 24 hours. This bullish activity suggests investors are preparing for Avalanche to rise to $40, although some experts think it could return to its March high of $60.69.

Given the introduction of a new cryptocurrency ETF, the market is building bullish momentum that could take Avalanche above $60 to a new annual high.

Rollblock could soar after ETF approval

The latest ETF approval is great news for altcoins as it shows governments are starting to accept cryptocurrency. As a future pioneer in the gambling industry, Rollblock is making waves in the crypto space with a new lucrative project with great potential. This innovative GambleFi protocol seeks to solve security and scalability issues in the $450 billion gambling market.

To do this, Rollblock is introducing a DeFi casino. The casino is already live and has all the required licenses. Players can use more than 20 cryptocurrencies to enjoy more than 150 different game modes, including poker, slots and roulette. Rollblock also plans to add sports betting to the platform.

In addition to profiting from betting, players who own $RBLK tokens can also benefit from Rollblock’s revenue sharing initiative. Rollblock will incentivize token ownership by rewarding holders with up to 30% of daily earnings.

To share the revenue, Rollblock will buy back $RBLK tokens from the open market. It will use half of the tokens it buys for weekly rewards and burn the remaining 50% to create scarcity.

The Rollblock presale has already become a world hit. Phase one was sold out within a week and more than 46% of phase two has already been sold out. To participate, investors can purchase $RBLK tokens for $0.012. Experts predict that tokens can deliver returns 720% during the Rollblock presale, and as a result the current price is a huge bargain.

Rollblock: a new DeFi pioneer

Historically, cryptocurrency pioneers have offered fantastic returns, and Rollblock is no different. As the project gains traction, experts believe it could make huge gains, potentially rising to become one of the top 50 cryptocurrencies in the world by the end of the year.

Discover the exciting Rollblock (RBLK) presale opportunities today!

Social contacts:

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 currency of the information available in such content. Do your research and invest at your own risk.

Related Post