Altcoins
Ethereum Spot ETF Approval Odds Increase from 25% to 75%, Triggering Start of Altcoin Season
Eric Balchunas and James Seyffart, Bloomberg analysts recently increased their chances of approval for Ethereum Spot ETFs, making approval more likely than ever. This news has already kicked off the altcoin season, given the price gains of Ethereum (ETH) and other altcoins like ETFSwap (ETFS) have recorded in the last 24 hours.
Rising Chances of Ethereum Spot ETF Approval Sparks Altcoin Season
Ethereum (ETH) and other altcoins have rallied over the past 24 hours following an increase in Spot Ethereum ETF approval chances. Bloomberg analyst James Seyffart revealed in an X (formerly Twitter) job that he and his colleague James Seyffart had increased their chances of approval of an Ethereum Spot ETF to 75% (from 25%).
Balchunas added that they had heard rumors that the SEC could potentially reverse course and approve these funds due to an “increasingly political issue.” Seyffart also confirmed in a Message that “things are improving” regarding the approval of these Ethereum Spot ETFs.
Crypto analyst Michaël van de Poppe rightly predicted this would happen when he mentioned that news regarding Ethereum Spot ETFs (whether positive or negative) would trigger a capital rotation into Ethereum (ETH) and other altcoins.
Additionally, crypto analyst Javon Marks also previously predicted that a significant move for Ethereum (ETH) would be a “major service in many Altcoin progressions.”
Therefore, while the second largest crypto token is still rising, other cryptocurrencies are expected to move further higher in the coming weeks as the altcoin season kicks off. Crypto analyst Crypto Kaleo suggested that this is just the beginning for Ethereum (ETH), as he said “the chart is heating up.”
ETFSwap (ETFS) already on the move
ETFSwap (ETFS) has already seen its value skyrocket following the announcement of a likely approval of the Ethereum Spot ETF. The altcoin season will help provide more bullish momentum to the ETFSwap (ETFS) token, which has already seen impressive price increases since its launch.
The potential approval of Ethereum Spot ETFs is also significant for ETFS, ETFSwap’s native token, given the amount of liquidity that could flow into the crypto token from these funds.
ETFSwap (ETFS) is a decentralized finance (DeFi) that tokenizes investment funds like Ethereum Spot ETFs and makes them available for on-chain trading. The platform is already known to be a better alternative to the centralized trading platforms that traditional financial investors (TradFi) are used to.
On the one hand, ETFSwap (ETFS) offers 24/7 trading, which means traders can settle their trades at any time of the day instead of waiting for the trading hours that these centralized entities operate. Additionally, ETFSwap (ETFS) offers up to 10x leverage on all tradeswhich means investors can maximize their gains, which is not possible with traditional platforms.
Meanwhile, unlike centralized entities like brokers, which are always looking for ways to profit from their customers, ETFSwap (ETFS) is customer-centric. The DeFi platform has even created a revenue sharing strategy whereby holders of its native token get a share of the fees earned on the platform.
With this in mind, it is obvious that many investors wishing to invest in Spot Ethereum ETFs (if approved) will prefer to do so on ETFSwap (ETFS). This means that the millions of dollars that will be invested in these funds will pass through the ETFSwap token (ETFS). Such an event will further contribute to the parabolic price gains that ETFSwap (ETFS) is already expected to experience.
Crypto Experts Say ETFSwap (ETFS) Can Reach up to $20 from its current price of $0.00854, meaning investors can earn up to 20,000 times their initial investment. This explains why crypto investors are going all-in on the crypto token with over 65 million ETFSwap (ETFS) tokens sold so far during the first stage of the ongoing presale.
The price of ETFSwap is expected to double once Phase 2 begins, meaning it is the cheapest crypto token anyone can ever buy. Therefore, time is running out as the tokens available in Stage 1 are selling out quickly, making it likely that this presale stage will end sooner than the expected end date.
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