Standard Chartered expects Ethereum to hit $8k in 2024 – Experts pick 5 coins for bigger gains Standard Chartered predicts Ethereum's approval for spot ETFs, raising its price target to $8,000 by year-end
After the US SEC asked exchanges to fine-tune their Ether ETF filings, market experts are almost certain that approval is on the way. Just like it was with Bitcoin, the approval of spot Ethereum ETFs is expected to be the next big thing in the crypto market.Standard Chartered, agreeing that Ethereum will receive the green light for spot ETFs soon, has updated its price target for the leading altcoin. Geoff Kendrick, Standard Chartered’s Head of FX Research and Digital Assets Research, believes ETH could peak at $8,000 by the end of the year.
According to Geoff Kendrick, spot Ethereum ETFs will drive inflows of $15 billion to $45 billion within the first 12 months. This inflow of capital is what is expected to be the driving force behind the next major move in the crypto market.
The top cryptos too buy for bigger returns than Ethereum
Ethereum undoubtedly could play a massive role in this year’s crypto winter, but there are other cryptos that are set to record bigger gains. Based on the predictions from top experts, KangaMoon, Chainlink, VeChain, Dogecoin, and Chiliz are some of the best cryptos to buy for more profits than Ethereum. Let’s find out why.
Unique new protocol, KangaMoon (KANG), to Hit $1 this bull cycle
KangaMoon (KANG), the presale sensation of 2024, is one of the top altcoins predicted to shine in this altcoin season. The KangaMoon community has quickly grown to over 32,000, and over $7 million has been raised to create the most community-centric project.
The aim of the project is simple: building and rewarding a lively community of people with similar interests in crypto games, meme culture, and engagements. Social-Fi, a new protocol, will power KangaMoon to reward users based on their level of engagement.
KangaMoon has also partnered with RaidSharks to launch a community engagement bot that will add more flavour to the ecosystem. In addition, KangaMoon features a metaverse, ‘Kangaverse’ where players will be able to play selected crypto games, develop as well as level up their characters, and sell them for money.
The unique approach of KangaMoon has made it a favourite in the crypto community. The price of KANG, its native token, has already increased by 400% this year to hit $0.025. The potential surge to $1 makes KANG the best crypto investment of the year.
Chainlink (LINK) could hit $28 by September, $40 at the end of the year
The decentralised oracle network Chainlink (LINK) is one of the top altcoins with a very bullish outlook in 2024. According to the pseudonymous trader, Immortal, all LINK needs to do to prepare for a massive price increase is remain above the $16 support level.
The Chainlink price has held this support level since recovering it in mid-May. According to Immortal’s analysis, LINK could explode to $28 by September. However, the long-term Chainlink price prediction suggests that LINK could hit $40 by December, levels the altcoin last recorded in May 2021.
Bitget lists VeChain (VET) on its platform, analyst set target at $0.5
In a recent tweet, crypto exchange Bitget announced that it had listed VeChain (VET) on its platform. While the news has failed to spark a bullish move for VeChain, market analyst Crypto EA remains optimistic about the potential of VET this crypto summer.
The analyst explained that VET recently touched the lower level of its Bollinger Bands (BB), resulting in the recent VeChain price pump. Based on his predictions, VET could target the higher level in this bull cycle. If VeChain follows through with this trend, the altcoin price could rise by at least 500% to hit $0.18. CryptoEA, however, believes VET could top out at $0.5 in this bull cycle.
Analyst bullish on ETF approval calls Dogecoin (DOGE) his best pick
According to the pseudonymous analyst known as the Flow Horse, spot ETH ETFs would make the crypto markets ‘get crazier.’ While the ETH altcoin price could see a major pump in price, Flow Horse is even more bullish about Dogecoin (DOGE).
He notes that Dogecoin has been ‘sitting in a really nice area for long,’ and could be activated by the ETF approval. Based on the chart shared by Flow Horse, the Dogecoin price could pump towards $0.60 this bull cycle, an increase of more than 4x from its current range at $0.1600.
Chiliz (CHZ) expands userbase, could hit $0.60 this year
Chiliz (CHZ) is one of the top altcoins already benefiting from the momentum Ethereum has been building. According to Santiment, the leading blockchain platform focused on sports and entertainment, is one of the altcoins seeing a surge in whale activity. The surging whale activity comes as Naver Pay and the Chiliz enter into a partnership to launch exclusive ticketing and payment services.
With the potential to increase the Chiliz crypto, whales seem very optimistic that the price of CHZ could be on the rise. From its current range at $0.120, a Chiliz price prediction suggests that CHZ could hit a yearly high of $0.60 before this bull cycle is over.
Ethereum leads the way, but altcoins set to dominate
With Ethereum predicted to experience the same kind of rally as Bitcoin did after its ETF approval, it’s a no-brainer why ETH is one of the best coins to invest in now. However, while it could be the face of this crypto summer, predictions from experts suggest other altcoins will end up with bigger gains.
Standard Chartered’s $8,000 prediction suggests the price of ETH will increase by 2.1x before the end of the year. Meanwhile, CHZ and VET could see an increase of 5x, and DOGE a rise of 400%. However, the best crypto investment for this year remains KANG, with a potential rise of 50x.
Conclusion
While ETH prepares to lead another crypto bull market, LINK, CHZ, VET, and DOGE are some of the topcoins to invest in for bigger returns. Meanwhile, the top option remains KangaMoon as its unique new platform could fuel the biggest rally of the year.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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This story originally appeared on: India Times - Author:Faqs of Insurances
