Is Crypto Dead? Here is Why The Market is About to Go Way Up (ETH ETF Impact)

In 2024, Bitcoin got its long-awaited Spot Bitcoin ETF, and markets also witnessed the Halving event, and Ethereum seemingly landed spot ETF approval

As we approach the halfway point of 2024, the crypto market has seen some interesting developments. While many expected crypto to soar with the approval of a spot Bitcoin ETF and the halving event, the market has remained largely stagnant. However, if we look at the 2017 bull market, there might be hope yet.

Crypto Jelle recently pointed out on Twitter that Bitcoin has been following the 2017 bull market script closely. If the trend continues, we might be leaving this choppy purgatory in 10 days.

“Bitcoin is following 2017 bull market script closely. If it keeps up the similarities, we'll be leaving this choppy purgatory in about 10 days. It's time for expansion. You ready?”

Utility tokens, which differ from meme coins due to their real-world applications, might be set to lead the charge in price action.

Utility tokens are used to access products and services within a crypto ecosystem, unlike meme coins which are purely speculative. For example, Toncoin is used for Telegram, MANA is used in Decentraland, and Basic Attention Token is used for the Brave Browser.

These tokens provide more than just transaction fee savings. They also grant access to exclusive perks and voting rights on key decisions, giving them a better chance at long-term survival than meme coins.

Here are some of the best utility tokens to consider for investment:

Toncoin (TON)

SAND (SAND)

MANA (MANA)

Basic Attention Token (BAT)

Discover more top altcoins to buy in June 2024 here.

Is Crypto Dead? Here Is Why The Market Is About To Go Way Up (ETH ETF Impact)

The U.S. Securities and Exchange Commission (SEC) has approved 11 spot Bitcoin ETFs, which collectively pulled in over $12 billion. Now, the approval of spot Ethereum ETFs is set to shake up the market.

In May, ETH hit $3,973 and closed above $3,770 on Tuesday. According to analysts, these Ethereum ETFs may start out smaller but are expected to explode in growth.

LMAX Group analyst Joel Kruger is bullish on Ethereum, citing recent regulatory wins and rising adoption.

“Given the positive momentum on the adoption and regulatory fronts, we suspect ETH will indeed succeed in making a fresh record high,” Kruger said.

Final Thoughts on Will Crypto Pump in June 2024: The Dam Is About to Break

With the introduction of spot Ethereum ETFs, ETH and utility tokens might be poised for new all-time highs.

Remember, when most of the mainstream is bored to tears in crab markets like these, the best opportunities arise.