The cryptocurrency vertical is basking in its newfound victory. The Ethereum ETFs have finally sought approval from the SEC, ushering in a new wave of crypto-inspired proceedings. ETFs have always been dubbed the perfect financial instrument to gain direct exposure to certain assets. The tool now embedded with cryptocurrency is poised to outshine the traditional sectors entirely.
However, the crypto community is now vying for other potential tokens to ascend to new highs and possibly take the ETF baton ahead. Here are the top three crypto tokens an investor must stash that may become ETFs in the near future.
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Three Crypto Tokens That May Hit Big and Become ETFs In The Long Run
Cryptocurrency #1: Solana
Solana has undoubtedly emerged as one of the most successful coins in the crypto industry. The token has outpaced several other tokens to take the lead and is trading at a whopping price level of $165. The token is queued to join the next ETF race, as predicted by analysts at Standard Chartered. This development is expected to help Solana gain credible traction in the near future.
Per CoinCodex, Solana may spike by nearly 15% to trade in the $190 price range by June 2024.
According to our current Solana price prediction, the price of Solana is predicted to rise by 15.07% and reach $190.50 by June 26, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 74 (greed). Solana recorded 14/30 (47%) green days with 9.92% price volatility over the last 30 days.
At the same time, the token may also increase by 139% by the end of 2024 if it manages to sail through the current bullish onset of the market.
“Solana is forecast to trade within a range of $161.59 and $396.46. If it reaches the upper price target, SOL could increase by 139.08% and reach $396.46.”
Cryptocurrency #2: XRP
According to Standard Chartered analyst Geoffrey Kendrick, Solana and XRP ETFs could soon become the next big trending developments in crypto. Per Kendrick, these coins have the potential to embrace the bullish onset of the market, thereby bolstering their position to secure ETF status.
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“For other coins (e.g., SOL, XRP), markets will look ahead to their eventual ETF status as well, although this is likely a 2025 story, not a 2024 one. For now, bitcoin and ether dominance will rise, with selective “next in line” winners as well.” Kendrick shared
This development is set to help XRP receive the much-needed boost that the token is in desperate need of. Per CoinCodex, XRP may surge by 20% by the end of June 2024, trading in the $0.60 price range.
“According to our current XRP price prediction, the price of XRP is predicted to rise by 20.65% and reach $0.640716 by June 26, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). XRP recorded 15/30 (50%) green days with 2.26% price volatility over the last 30 days.”
By the end of 2024, the platform predicts the token will trade at a price level of $1.66.
“XRP is forecast to trade within a range of $0.335589 and $1.660377. If it reaches the upper price target, XRP could increase by 213.09% and reach $1.660377.”
Cryptocurrency #3: Cardano
Cardano is another robust coin in line to project a bullish price breakthrough. The token had long been trading at modest price levels, awaiting its bullish price wave. However, the slow progression of the coin is yet to deter the ADA community. After the Ethereum ETF approvals, the community is now vying for an ADA ETF, which may significantly bolster the token’s long-term price prospects.
Per CoinCodex, Cardano may rise by 4% in June 2024 to trade at the $0.48 price level.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 4.89% and reach $0.485436 by June 26, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Cardano recorded 12/30 (40%) green days with 3.34% price volatility over the last 30 days.”
By the end of 2024, ADA may spike by a whopping 300% to trade at the $1 price level.
“Cardano is forecasted to trade within a range of $0.426437 and $1.876798. If it reaches the upper price target, ADA could increase by 308.21% and reach $1.876798.”