Positive News For Bitcoin As ETNs Hit The LSE While These Top Coins Dominate Investor Portfolios
The post Positive News For Bitcoin As ETNs Hit The LSE While These Top Coins Dominate Investor Portfolios appeared first on Coinpedia Fintech News
With the upcoming Bitcoin ETNs trading on the London Stock Exchange, enthusiasts anticipate a positive momentum for Bitcoin. Meanwhile, Ethereum, Cardano, Stellar, and the meme coin KangaMoon are dominating investor portfolios amid their positive price increases. Let us look into more detail.
KangaMoon (KANG): One Of The Promising Meme Coins To Watch
Due to the recent market upswing, KangaMoon (KANG) has seen its price soar to a new high of $0.025 during its ongoing presale, extending its gains in 2024 to an astounding 400%. Market experts predict that KANG will continue to rise in the coming weeks, although this remarkable performance has placed it among the promising meme coins to watch.
The native token of KangaMoon, KANG, will be listed on BitMart, a tier-1 centralized exchange, said recently. Though the exact listing date is unknown, analysts predict that during this momentous occasion, KangaMoon’s price may surge to a new high above $1. Additionally, KANG is already listed on CoinMarketCap and CoinGecko.
Given this potentially explosive rally, KANG appears to be the best cryptocurrency investment this quarter. KangaMoon has significantly more to offer, including its innovative Social-Fi protocol, which has caught the attention of the meme coin market. On KangaMoon, members receive KANG tokens for taking part in challenges, competitions, and other events; the community is given precedence on the platform.
With increased engagement, a community member’s income will rise. With over $7.15 million raised since the inception of this community-focused protocol, KangaMoon is one of the biggest initial coin offerings (ICOs) in the meme coin market.
Positive Bitcoin News May Result In Further Rally
As per recent Bitcoin news, on May 28, Bitcoin Exchange-Traded Notes (ETNs) will begin trading on the London Stock Exchange (LSE). This might start a global Bitcoin race, according to “DeFi Planet”. It will be important to monitor the market flows, they say. Meanwhile, the 24-hour Bitcoin trading volume has surged significantly. Currently, at $19.83 billion, the 24-hour Bitcoin trading volume has surged by about 40%.
While investors wait for a significant surge in the value of the coin, whale movements have an impact on the price of Bitcoin, according to a CryptoQuant analyst. The analyst also mentioned the recent uptick in whale transactions and activities. Although the analyst stated that increasing whale transactions continued to put pressure on the price, the price of Bitcoin hasn’t increased much recently despite this pressure.
Approval Of The Ethereum ETF Opens Up New Investment Opportunities
With the recent approval of an Ethereum ETF by the US SEC, more Bitcoin investment products are now possible. After an Ethereum ETF is established, more cryptocurrency investment products will be authorized, according to TD Cowen’s Washington Research Group. Exchange-traded funds (ETFs) that track a “basket of crypto tokens”—possibly including Bitcoin and Ethereum—will soon be available.
Meanwhile, the Ethereum price has surged by over 27% within the past week. Having risen from $3,085, the Ethereum price is currently trading above the $3,900 mark. Ethereum’s status as a non-security is further cemented with the approval of a spot ETF. According to James Seyffart, an analyst for Bloomberg ETFs, the SEC’s explicit recognition of Ethereum as not a security is implied by the approval of these trust shares based on commodities.
Cardano Market Cap Increases Moderately
The world of cryptocurrencies has been quite agitated by the recent examination of the Cardano coin. After failing for a long time to break through significant price barriers, the Cardano coin has experienced a monthly increase of 1.27%. Consequently, investors have voiced concerns about its sluggish price movement on social media. However, during the first week of May, Cardano displayed a slight increase of 1.04%, bringing its weekly chart value closer to $0.46.
In a technical sense, Cardano shows a lot of promise. Moreover, the Cardano market cap has also increased by 1.53% to reach $16.66 billion. Meanwhile, the MACD indicator is at -0.00103, trending marginally above the signal line and near zero at the moment. The MACD line is rising above zero, which suggests limited buying pressure, but it also suggests the possibility of a significant bullish breakout for Cardano.
Stellar Price Rallies Amid Network Upgrades
Stellar (XLM) is a decentralized network that facilitates easier connections and collaboration between various financial systems and institutions. The Stellar price, which was $0.095 on April 13th, saw a sharp increase in just six weeks, reaching $0.01115 on May 24th, an almost 15% increase. A recent announcement about several network upgrades was one of the main factors that led to the current increase in Stellar’s value.
First, stable versions of the core Stellar software will be released by the Stellar platform team on May 30. A replicated stage machine that keeps a local copy of a cryptographic ledger and processes transactions against it is the core software of Stellar. Meanwhile, the 24-hour Stellar trading volume has also surged significantly. Currently, at $55.92 million, the 24-hour Stellar trading volume has surged by over 39%.
Can The Present Rally Be Continued By KangaMoon?
Although the price of KangaMoon has been increasing during its current presale, some supporters are sceptical that this surge will continue after the token is released. With KangaMoon’s current market capitalization, pumping the price of this meme coin is less expensive. Since KANG is the industry leader in GameFi, it may be able to maintain its upward trend.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
Website: https://Kangamoon.com/
Join Telegram Community: https://t.me/Kangamoonofficial
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