Cryptocurrencies had been pretty combined on Monday as Bitcoin remained stubbornly above the essential assist degree at $90,000. Hedera Hashgraph (HBAR) token surged to a excessive of $0.1490, its highest degree since April 24 and 256% above its lowest level this month.
Equally, Citizen (CATI), the favored Telegram recreation, jumped for 4 consecutive days, reaching a excessive of $0.70, its highest level since September. Notably, traders continued to eye Vantard, an upcoming cryptocurrency that seeks to create a meme coin index fund.
Why Hedera Hashgraph and Catizen soared
Hedera Hashgraph token surged after a number one firm utilized for a spot HBAR ETF in the US. This utility is profiting from the latest Donald Trump election, which is able to doubtless usher in a brand new period within the crypto business.
Not like Joe Biden, Trump has comeout in assist of the crypto business since he has a pores and skin the sport. As such, there’s a probability that the SEC will approve new crypto ETFs at a sooner tempo within the coming yr.
Hedera Hashgraph is seen as a great candidate for an ETF due to its use case and the truth that it counts influential firms like Google, Mondelez, and IBM as members of its governance council.
The principle challenge with Hedera is that it usually has low quantity and it has not attracted many builders in its ecosystem. As such, even when the ETF is accepted, it’s unclear whether or not it can achieve reputation amongst institutional traders.
Citizen, alternatively, is a high participant within the tap-to-earn ecosystem that has grown quickly prior to now few months. As proven under, its rebound was principally due to technicals because it had fashioned a falling wedge sample earlier than its comeback. There’s a probability that the token will surge to a document excessive of $1.2, which is about 60% above the present degree.
Vantard token sale is accelerating
In the meantime, traders have shifted their focus to Vantard, a well-liked crypto mission that’s in its token sale. Vantard has raised over $844,000 from traders, a development that might proceed as meme cash bounce.
Vantard is predicated on the concept meme cash do properly over time. Current information present that meme tokens like Dogecoin, Floki, and Dogwifhat have outperformed main cryptocurrencies like Bitcoin and Ethereum.
Vantard’s technique is to create a meme coin index fund that can monitor the most important and most promising tokens within the business. As such, as an alternative of investing in all these cash, one can purchase the VTARD token and achieve publicity to a few of the finest cash.
The builders hope that their tokens will thrive as Trump is about to simplify cryptocurrency legal guidelines whereas the Federal Reserve is predicted to proceed slicing rates of interest by 2025. You cann study extra about Vantard right here.