Cryptocurrencies were fairly mixed on Monday as Bitcoin remained stubbornly above the important support level at $90,000. Hedera Hashgraph (HBAR) token surged to a high of $0.1490, its highest level since April 24 and 256% above its lowest point this month.
Similarly, Citizen (CATI), the popular Telegram game, jumped for four consecutive days, reaching a high of $0.70, its highest point since September. Notably, investors 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 leading company applied for a spot HBAR ETF in the United States. This application is taking advantage of the recent Donald Trump election, which will likely usher in a new era in the crypto industry.
Unlike Joe Biden, Trump has comeout in support of the crypto industry since he has a skin the game. As such, there is a likelihood that the SEC will approve new crypto ETFs at a faster pace in the coming year.
Hedera Hashgraph is seen as an ideal candidate for an ETF because of its use case and the fact that it counts influential companies like Google, Mondelez, and IBM as members of its governance council.
The main issue with Hedera is that it often has low volume and it has not attracted many developers in its ecosystem. As such, even if the ETF is approved, it is unclear whether it will gain popularity among institutional investors.
Citizen, on the other hand, is a top player in the tap-to-earn ecosystem that has grown rapidly in the past few months. As shown below, its rebound was mostly because of technicals since it had formed a falling wedge pattern before its comeback. There is a likelihood that the token will surge to a record high of $1.2, which is about 60% above the current level.
Vantard token sale is accelerating
Meanwhile, investors have shifted their focus to Vantard, a popular crypto project that is in its token sale. Vantard has raised over $844,000 from investors, a trend that could continue as meme coins jump.
Vantard is based on the idea that meme coins do well over time. Recent data show that meme tokens like Dogecoin, Floki, and Dogwifhat have outperformed major cryptocurrencies like Bitcoin and Ethereum.
Vantard’s strategy is to create a meme coin index fund that will track the biggest and most promising tokens in the industry. As such, instead of investing in all these coins, one can buy the VTARD token and gain exposure to some of the best coins.
The developers hope that their tokens will thrive as Trump is set to simplify cryptocurrency laws while the Federal Reserve is expected to continue cutting interest rates through 2025. You cann learn more about Vantard here.
Comments (No)