SEC Delays Ethereum ETF Decision; Crypto Market Set for Surge

The SEC has delayed its decision on Grayscale's Ethereum ETF approval to May 30, with the Web3 community expressing optimism and preparing by accumulating select cryptocurrencies. KangaMoon (KANG) stands out as a top choice, offering a community-driven Social-Fi platform, Play-to-Earn features, and NFT integration. Chainlink (LINK), Arbitrum (ARB), Immutable (IMX), and The Graph (GRT) also show promise as their networks enhance Ethereum's scalability, provide oracle services, and facilitate NFT transactions.

United States Securities and Exchange Commission Delays Ethereum ETF Decision, Crypto Market Anticipates Surge

Washington, D.C., March 24, 2023 - The United States Securities and Exchange Commission (SEC) has extended the deadline for its decision on the approval of Grayscale's Ethereum ETF. The original deadline of March 31st, 2023, has been postponed to May 30th, 2023. The SEC will then evaluate the Trust exchange-traded fund (ETF) and determine whether to grant approval.

Despite the delay, the Web3 community remains optimistic about the potential of an Ethereum ETF. As a result, there has been a notable increase in cryptocurrency accumulation in anticipation of a market surge following the SEC's decision.

Top Cryptocurrencies to Consider in Preparation for Market Surge

Market analysts have identified five altcoins that have gained significant attention as potential beneficiaries of an Ethereum ETF approval. These cryptocurrencies include:

1. KangaMoon (KANG): A decentralized platform that combines Social-Fi elements, Play-to-Earn (P2E) features, and a community-driven approach. KangaMoon is currently undergoing its blockchain ICO and has experienced a substantial increase in price, rising from $0.005 to $0.014, indicating a 180% price appreciation. Analysts project that KANG could potentially spike by 5,000% by the end of 2024, positioning it as an attractive investment opportunity.
2. Chainlink (LINK): A renowned oracle network that connects smart contracts to real-world data. Chainlink has maintained a high reputation among developers, leading to increased demand for its LINK crypto. Its price has surged by 170% year-to-date (YTD) and is predicted to reach $27.15 by the end of 2024, making it a compelling cryptocurrency to consider.
3. Arbitrum (ARB): A Layer-2 protocol designed to enhance the scalability of Ethereum. Arbitrum aims to improve the speed, affordability, and efficiency of Ethereum transactions. Its price has increased by 37% in the past year and is anticipated to reach $2.63 by the end of 2024.
4. Immutable (IMX): A Layer-2 scaling solution specifically tailored for NFT projects built on Ethereum. Immutable offers zero gas fees, carbon neutrality, and high throughput, attracting significant interest in the NFT space. Its price has exploded by 179.3% YTD and is projected to reach $5.29 by 2024.
5. The Graph (GRT): An indexing protocol that organizes and provides accessible data from blockchains and storage networks. The Graph has witnessed a 180% price gain YTD and is expected to reach $0.5741 by the end of 2024, making it a valuable addition to a diverse cryptocurrency portfolio.

Investment Disclaimer

It is important to note that cryptocurrency investments are subject to market volatility and should be undertaken with caution. Potential investors are advised to conduct thorough research and consider their individual risk tolerance before making any investment decisions.