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Two tokens to keep an eye on in the meantime
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TON and MAGA VP are two digital assets with decent upside potential as the world awaits the approval of an Ethereum spot ETF in the US
Cryptocurrency ETFs provide a bridge between traditional finance and the exciting new cryptocurrency space by combining cryptocurrencies into a fund structure familiar to most investors.
Hong Kong is at the forefront of implementing innovative financial technologies as technical innovations and regulatory reforms increase global interest in such commodities. As the US investigates its position, Hong Kong’s aggressive and innovative cryptocurrency ETFs have seen a surge in demand.
Grayscale and Franklin Templeton have proposed Ethereum ETFs, aiming for approval from the Securities and Exchange Commission (SEC). These ETFs aim to invest in the price of Ethereum without owning the cryptocurrency itself.
However, the SEC postponed the decision until June 11 for Franklin Templeton and June 23 for Grayscale. To facilitate the purchasing process, Grayscale invented a Mini Ethereum Trust. The immediate approval of Bitcoin and Ethereum ETFs in Hong Kong marks the former as the frontrunner for cryptocurrency investments.
The first ETFs, which will begin trading on April 30, are expected to have a positive impact on the global cryptocurrency environment.
The introduction of fees of less than 1% has diverted investors’ attention from the uncertainty of US markets. While investors wait to get their hands on an ETF, two tokens are making the rounds on the internet, which are not “mere” memecoins but come with the trust and support that ETFs provide to their users.
Two tokens to keep an eye on
TON (Telegram open network)
TON is closely associated with the Telegram messaging platform, which has a huge user base. TON has demonstrated scalability, reaching 127,000 transactions per second (TPS) in stress tests, outperforming Ethereum, Cardano, and Solana.
Additionally, TON has partnered with Animoca Brands, a leading player in the gaming industry. His remarkable technical achievements have attracted attention recently. There is optimism regarding the future of TON, with an expected increase to $9.56 by January 2025. This expected 290% increase is believed to be influenced by the Bitcoin halving event expected in 2024.
MAGAVP (MVP)
MAGA VP is the one-of-a-kind token mentioned as an evolution of the MAGA TRUMP project narrative, serving as a form of currency that offers holders a continuous supply of funny images on the Ethereum blockchain.
BitMart recently expanded its selection of cryptocurrencies by introducing MVP on March 14, 2024. This significant update signaled that the platform now supports trading against the widely used digital currency USDT. As a result, more cryptocurrency traders are likely to embrace MVP to benefit from it.
The MAGA VP project achieved success thanks to the support of investors from the TRUMP community. With a record-breaking market capitalization of more than $600 million, these influential stakeholders bring resources and connections to the project.
Their support validates the vision and potential of MVP which already has a market capitalization $6 million, increasing confidence among investors and leading to a widespread increase in interest and participation in the MVP token. With these supporters on board, MVP is set to maintain its path and establish itself as a significant player in the “PolitiFi” narrative meme token market.
Conclusion
Hong Kong, in dramatic contrast, aims to become the exchange for cryptocurrency ETFs, while US federal authorities are taking a slow and cautious approach.
This underlines that the change has pushed the global cryptocurrency investment landscape beyond its limits. This strategic measure provides Hong Kong with a perfect opportunity to shape the path and image of cryptocurrencies in international finance. This evolution has piqued curiosity and sparked debate about how it will impact the widespread adoption and incorporation of cryptocurrencies around the world.
To find out more about this project, visit the MAGA VP website.
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