Ethereum’s price has been highly volatile of late, as investors anticipate the SEC’s decision on an $ETH futures ETF, expected by October. While a futures ETF could bring more mainstream adoption, many believe that limitations on direct Ethereum exposure could dampen its impact. Meanwhile, new altcoins like Launchpad XYZ and yPredict have emerged, offering different value propositions and use cases to Ethereum. Ethereum Sinks Below ,700 As Bear Flag Begins Forming It’s been a disastrous week for $ETH holders, with the token’s value sinking over 9% since last Monday. At the time of writing, $ETH is hovering around the ,680 level, the same as it was back in mid-June. Ethereum experienced its worst weekly close since the April crash last week, erasing the gains made in
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Ethereum’s price has been highly volatile of late, as investors anticipate the SEC’s decision on an $ETH futures ETF, expected by October.
While a futures ETF could bring more mainstream adoption, many believe that limitations on direct Ethereum exposure could dampen its impact.
Meanwhile, new altcoins like Launchpad XYZ and yPredict have emerged, offering different value propositions and use cases to Ethereum.
Ethereum Sinks Below $1,700 As Bear Flag Begins Forming
It’s been a disastrous week for $ETH holders, with the token’s value sinking over 9% since last Monday.
At the time of writing, $ETH is hovering around the $1,680 level, the same as it was back in mid-June.
Ethereum experienced its worst weekly close since the April crash last week, erasing the gains made in the past two months.
On the 4-hour price chart, the $ETH price appears to be forming a bear flag, which could signal further downside in the near term.
Moreover, the Crypto Fear & Greed Index has dropped to just 38, deep into “Fear” territory – indicating that the broader market sentiment is leaning toward caution and pessimism.
Traders Brace for SEC’s Crucial Ethereum Futures ETF Decision
In light of the recent price volatility, $ETH investors have shifted their attention to the SEC’s anticipated decision on Ethereum futures exchange-traded funds (ETFs) this October.
At least 12 applications have been submitted for Ethereum futures ETFs, with major players like ProShares, Bitwise, and Valkyrie among the applicants.
A positive response from the SEC could mean a significant increase in institutional investment, given that these investors are often hesitant to invest directly in the spot crypto market.
While spot crypto ETFs have faced roadblocks in the US, the SEC’s approval of several Bitcoin futures funds in 2021 indicates a changing sentiment in the governing body, hinting that there could be a path for an $ETH futures ETF to be launched.
As such, although the recent price dip has made Ethereum holders apprehensive, the SEC’s decision in October could bring significant bullish momentum – meaning investors will be keeping a close eye on regulatory updates in the weeks ahead.
Which Other Coins May Be Worth Considering?
While Ethereum is grabbing the headlines, investors are also looking for promising newcomers in the altcoin market.
Two coins that could be worth tracking are Launchpad XYZ and yPredict, both of which are nearing the end of their respective presale phases.
Launchpad XYZ Presale Sparks Buying Frenzy with Ambitious Web3 Plans
Launchpad XYZ ($LPX) is an emerging Web3-focused platform aiming to streamline access to cryptocurrencies, NFTs, blockchain gaming, and the metaverse.
Its native token, $LPX, has seen steady growth during the ongoing presale phase, which has now raised over $1.3 million as investors begin to take note of the project’s ambitious plans.
During the presale, $LPX tokens are available for $0.0445 before their expected listing on exchanges later this year.
This early buy-in opportunity has generated significant buzz, with Launchpad XYZ’s Telegram community seeing tremendous growth in recent weeks.
Adding to the buzz is Launchpad XYZ’s comprehensive suite of features, which include an advanced trading terminal, an AI-powered “Apollo” trading assistant, and a Launchpad Quotient ranking system.
According to Launchpad XYZ’s whitepaper, $LPX holders can also stake their tokens to benefit from trading fee discounts, NFT allowlist access, and early entry to crypto presales.
Thanks to these features, Launchpad XYZ has positioned itself as an exciting new contender in the crypto space.
As it approaches its first exchange listing, investors will be keenly watching $LPX to see if the token can live up to the overwhelming hype.
yPredict Leverages Cutting-Edge AI to Revolutionize Crypto Analytics & SEO with $3.5 Million Raised
yPredict ($YPRED) is a groundbreaking new platform leveraging AI technology to offer an array of cutting-edge crypto analytics tools.
By using machine learning models trained on colossal datasets, yPredict seeks to provide objective insights like trading signals, automated pattern recognition, and trader sentiment analysis.
Additionally, yPredict’s team recently expanded into SEO solutions with its AI-powered backlink estimator, allowing for more precise keyword ranking strategies.
After a successful preview, this tool is now available for $99 per query – although it can be accessed for free by those who purchased $YPRED through the project’s presale.
During this presale, 80% of the total $YPRED supply has been made available, with investors able to buy in for $0.10 per token, which is a discount on the planned CEX listing price.
Over $3.5 million has been raised through this presale; however, with it now in Stage 7 out of 8, investors only have a limited window to capitalize on this discounted offer.
Several crypto influencers have also endorsed yPredict, such as YouTuber Michael Wrubel, who has an audience of over 310,000 people.
Overall, yPredict’s exciting technology and significant community support suggest a promising future for the platform as it seeks to revolutionize the crypto analytics space.
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