Top 3 Altcoins To Watch As Hong Kong Greenlights Ethereum and Bitcoin ETFs

Following Hong Kong’s approval of Ethereum and Bitcoin ETFs, the cryptocurrency market has boomed, with many traders becoming interested in the industry. Our analysts have picked the 3 top altcoins that may profit from these events: KangaMoon (KANG), Solana (SOL) and Arbitrum (ARB).

KangaMoon (KANG)

KangaMoon (KANG) tops the best altcoin list, providing buyers with a 290% ROI. Furthermore, KangaMoon has now raised $4.9M in its ongoing presale and a jump to $6M before April 2024 ends is expected. With this growth potential, KANG may skyrocket as interest in the crypto market grows, thanks to Hong Kong’s decision.

This altcoin will be the main in-game currency for KangaMoon’s upcoming Play-to-Earn (P2E) game. With KANG, you can upgrade your characters or even buy in-game items. In addition, KangaMoon will provide you with exclusive challenges on a weekly, monthly or quarterly basis for extra tokens or in-game items.

Another exciting aspect of KangaMoon is its goal of giving back to its community. For example, KangaMoon gives its most active community members free KANG before its official launch. As a result, countless traders are flooding KangaMoon’s social media posts with likes, shares and comments.

One KANG token is worth just $0.0196 as it is in Stage 5 of its presale. This is a 290% jump from its starting price of $0.005. But remember that KangaMoon will tap into the P2E gaming market which is projected to reach $885M by 2028. Thus, its long-term growth potential is stellar. Analysts now predict KANG hitting $1 after a Tier-1 CEX listing in Q2 of 2024.

Solana (SOL)

Next up is Solana (SOL), which is among the top 10 altcoins. Solana looks poised to benefit as more new traders flock to the crypto market after Hong Kong’s decision. CoinMarketCap data shows that the Solana price increased from $25.36 to $150.39 in the YTD chart. Its market cap grew from $9.95B to $67.43B during that time.

Crypto analyst Bluntz predicts that this altcoin is preparing for its new rally. The technical analysis for the Solana crypto also backs this statement. For example, Solana is now trading above its 100 and 200-day EMAs. Moreover, 12 technical indicators are in the green for SOL.

Thus, crypto experts have made a bullish Solana price prediction. They foresee this altcoin hitting $209 within Q2 of 2024, making Solana one of the altcoins to buy right now.

Arbitrum (ARB)

Finally, we have to mention Arbitrum (ARB). Arbitrum is an Ethereum L2 scaling solution that has made a name for itself. After Ethereum ETFs receive regulatory approval in Hong Kong, there will be a higher demand for infrastructure capable of supporting efficient and scalable applications based on Ethereum.

The Arbitrum price movement fell from $1.51 to $1.26 in the past week alone. This altcoin’s market cap dropped from $4.12B to $3.34B in that period. However, the technical analysis for the Arbitrum crypto paints a more bullish picture. ARB is trading above its 50-day EMA while having eight green technical indicators.

When making their Arbitrum price predictions, prominent market analysts consider all these factors. Thus, they foresee Arbitrum reaching $2.15 before Q2 of 2024 ends. As one of the most prominent L2s for ETH, Hong Kong’s decision could help make this price prediction a reality.

Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!

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