Here’s why utility tokens will continue to be pumped –

Are cryptocurrencies dead? Will cryptocurrencies pump? Discover real-world applications of utility tokens and crypto projects as we analyze the state of the market in June 2024.

In 2024, Bitcoin got the long-awaited Bitcoin Spot ETF, and the markets also witnessed the Halving event, and Ethereum seems to have gotten the spot ETF approval; however, cryptocurrencies are not on the rise. And the altcoin season already a failure?

Not a chance. Bitcoin is following the bull market script of 2017. If the trend holds, we will emerge from this difficult period in 10 days and… utility tokens could lead the charge in price action.

What are Utility Tokens and why will they become big?

Utility tokens differ from meme coins through their real-world applications.

Unlike Speculative meme coinsutility tokens are your ticket to real products and services within a crypto ecosystem.

Think Toncoin for Telegram, MANA for Decentraland and Basic Attention Token for Brave Browser.

These tokens offer more than savings on transaction fees: they grant access to exclusive benefits and voting rights on key decisions, giving them a chance at long-term survival that meme coins can only dream of.

Some utility tokens to consider

There are many gold standard utility tokens to consider investing in. Here are our favorites:

• Ethereum: ETH is the first smart contract platform that allows you to create decentralized apps. What sets it apart is that it is the most decentralized among blockchain smart contracts, which gives it an edge in the eyes of institutions
• Solana: What Solana loses in decentralization as a smart contract platform it makes up for in speed, network connectivity, number of apps, and low transaction costs.
• VeChain: We had the pleasure of interviewing VeChain founder Sonny Lu at Consensus 2024; VeChain is pivoting to VeBetterDAO which will be a one-stop social media app for all your sustainable lifestyle choices
• Sui: One of the main competitors of Solana and other smart contract platforms at the moment
• Theta Network: The Theta network is decentralized Netflix and focuses on decentralized streaming
• 99Bitcoin Token: At the end of a historic pre-sale, the 99BTC token is a learn-2-earn cryptocurrency that is making huge waves
• Half-breed: Created by Vitalik Buterin’s mother, Metis is a scalable solution for Ethereum interested in keeping ETH decentralized
• XRP: Intended to be a bank-backed cryptocurrency, XRP has one of the most fervent crypto communities.

DISCOVER: Other Best Altcoins to Buy in June 2024

Are cryptocurrencies dead? Here’s why the market is about to go up (ETH ETF impact)

The SEC gave the green light to 11th place Bitcoin ETFs, grossing over $12 billion. Now, Ethereum ETFs are ready to shake up the market and have already done so with Ethereum hitting $3,973 in May and closing above $3,770 on Tuesday.

Analysts say these Ethereum ETFs may start small but could explode in growth. LMAX Group’s Joel Kruger is bullish on Ethereum, citing recent regulatory successes and growing adoption.

“Given the positive momentum on the adoption and regulation front, we suspect that ETH will indeed manage to reach a new record high.” says Kruger.

Final Thoughts on Will Crypto Pump in June 2024: The Dam is About to Break

With the introduction of Ethereum spot ETFs, ETH and utility tokens may soon be poised to reach new all-time highs.

Remember: when most of the mainstream is bored out of their minds in crab markets like these, the best opportunities arise.

TO EXPLORE: Cryptocurrency developments in Asia: UAE, Singapore and Bangkok in focus

Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

Fuente