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Which Altcoins Will the Ethereum ETF Approval Benefit? Here is the Altcoin List to Follow!

source-logo  en.bitcoinsistemi.com 21 May 2024 17:02, UTC

While the probability of the SEC approving spot Ethereum ETFs increased to 75% overnight, this development rocketed ETH and cryptocurrency prices.

While ETH increased by 21.7% in the last 24 hours, Ethereum-based altcoins also experienced double-digit increases.

While the rise is expected to continue after a possible ETH ETF approval, cryptocurrency platform Layergg listed the altcoins that can be watched after the approval.

Layergg listed the following Ethereum-based altcoins that could be tracked if ETH ETFs are approved:

“2024 ETH-Beta Watchlist:

• PEPE – New King of Meme • PENDLE – Best Bluechip DeFi • ENA – Main Beneficiary of ETH Rally • METIS – Gains from the “Low Volatility/High FDV” Debate • ETHFI – Super App for Repurchase

• ALT – Regranted Rollups (RaaS) • REZ – Low Cap Repurchase Center • MKR – “End Game” (Rebranding/Renaming) • OP – Powered by L2 Coinbase and Base Chain • ARB – No. of Tier 2. 1 TVL

• LDO – Redemption (Supported by Paradigm) • ETC – PoW Ethereum • ENS – Vitalik's 'Very Important' Mattress • SSV – Liquid DVT only • UNI – Ethereum OG DeFi”

Pointing out that Ethereum has lagged behind the market since September 2022 and has shown signs of weakness against Bitcoin, Layergg stated that the ETH/BTC trading pair has recently approached the bottom.

Finally, Layergg stated that ETH/BTC will rise after the approval of the Ethereum ETF, and that this rise may bring a major altcoin rally, and that ETH-Beta altcoins are the group with the highest potential to benefit from this rally.

Bitcoin ETF – APPROVED✔️
Ethereum ETF – SOON

The Ethereum ETF has switched from a 10% likelihood to a 75% chance overnight. If approved, the $ETH Spot ETF makes the following projects worth watching.

2024 ETH-Beta Watchlist:

• $PEPE – New King of Meme
• $PENDLE – Top… pic.twitter.com/cSexLJroDr

— Layergg (@layerggofficial) May 21, 2024

*This is not investment advice.