Bitwise Predicts 'Bigger Wave' for Bitcoin ETFs, VeChain, and a New Altcoin Prepare for Major Rally
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March 02, 2024 09:00 AM Central Standard Time
The approval of Bitcoin spot ETFs in January has turned out to be an immense success as they continue to hit record inflows. To add to this, the CIO of Bitwise, Matt Hougan, has predicted that there will be an 'even bigger wave' from ETFs in the coming months.
Meanwhile, VeChain (VET) is one of the top altcoins that has been a center of attraction following its recent announcement. With the growing bullish sentiment, crypto experts predict that VET and a new altcoin, KangaMoon (KANG), are set for massive gains in the coming weeks.
Bitwise CIO Predicts Bigger Wave for Bitcoin ETFs
The capital inflows into Bitcoin ETFs have been growing steadily since its approval in January. Farside recently reported that the daily inflows into Bitcoin ETFs recently peaked at over $673 million. The Bitwise CIO, Matt Hougan, has predicted that there will be an even "bigger wave" for Bitcoin ETFs.
Hougan shared this sentiment after two Wall Street giants, Merrill Lynch and Wells Fargo, reportedly began offering spot Bitcoin ETFs. According to Hougan, the entrance of these major wirehouses will fuel the next wave of demand for spot ETFs.
He further explained that there is "too much demand for Bitcoin and not enough supply." This prevailing circumstance is mostly bullish and is why BTC is the cryptocurrency to buy. Ahead of its halving in April, many experts have forecasted a new all-time high for Bitcoin.
VeChain (VET) Poised for Break Out After Network Expansion
The VeChain Foundation recently announced the launch of VeBetterDAO, the next step in its expansion process. VeBetterDAO is designed to be the foundation of a cross-sector sustainability dApp ecosystem and onboard enterprises and individuals into web3.
Along with the launch, the VeChain Foundation also launched a new VOT3 token. Another altcoin was launched VHTO, to serve as gas fees. Although the price of VET didn't automatically respond to the launch, crypto analysts are bullish about the altcoin.
On the weekly chart, the price of VET has increased by more than 8%, with February being its best month. Highlighting data from CryptoRank, there are predictions that the price of VeChain could potentially increase by 80% to surge to a new ATH in March.
KangaMoon (KANG): The New Cryptocurrency To Buy in March
KangaMoon (KANG) has been just as impressive as VeChain over the past few weeks. KANG emerged as one of the top altcoins with gains of 50%. KangaMoon has been growing in popularity because of its unique social-fi model.
Using this new framework, KangaMoon users are rewarded based on their participation and activity on the network. From activities as easy as engaging and sharing posts on social media platforms, KangaMoon allows users to earn KANG tokens.
With this, there has been an increased demand for KangaMoon in its ongoing cryptocurrency ICO phase. This huge demand has seen KangaMoon raise over $450,000 in the first two stages of its ICO.
As the project progresses, KangaMoon users will have chances to earn mouth-watering rewards. Currently, there is a 10% bonus on all purchases available in the second stage of its cryptocurrency ICO. While early adopters are already in profit, KangaMoon promises gains of up to 220% before it launches in the first quarter.
Closing Thoughts
The cryptocurrency market is set to experience a major breakout in the coming months, evidenced by the growing demand for spot Bitcoin ETFs. KangaMoon and VeChain are two crypto coins strategically positioned to benefit from this market growth as they look to expand in the coming months.
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