Ethereum’s ($ETH) price has slumped by 8% following the SEC’s $ETH ETF approval.
Analysts remain optimistic because of three successful $ETH ETF inflows (Fidelity Ethereum Fund, Bitwise Ethereum ETF, and BlackRock iShares Ethereum Trust), Bitcoin’s ($BTC) positive historic performance, and investor interest surrounding Ethereum-based projects with utility.
WienerAI ($WAI), a purpose-driven ERC-20 project that appears promising, has raised over $7M on presale.
The $WAI presale will end in five days, and we predict it may raise another $100K today.
$ETH’s price has plummeted by ~8% to $3.1K following the SEC’s approval of eight spot Ethereum ETFs on July 23.
The $ETH ETFs experienced a total net outflow of $113.3M on July 22, suggesting an initial lack of investor confidence. However, analysts remain optimistic about Ethereum’s future success:
Three ETFs attracting combined inflows of $121.5M
$BTC’s price drop before reaching an ATH after its ETF approval
Craze for utility-based $ETH projects like $WAI
Let’s uncover what may propel $ETH’s long-term growth and Ethereum-based coins, such as WienerAI.
Mixed Market Reactions After SEC ETF Approval
The Grayscale Ethereum Trust is the leading cause of the $ETH ETF $11.3M outflow. However, the Fidelity Ethereum Fund and the Bitwise Ethereum ETF recorded inflows of $74.5M and $29.6M on July 22, respectively.
BlackRock’s iShares Ethereum Trust also received an influx of $17.4M in ETF investments on the same day.
Despite the mixed market behavior, analysts believe $ETH may surge like $BTC. After the SEC approved $BTC ETFs on January 10, the coin’s price dropped by 9%, followed by a spike from $46K to a $75K ATH on March 13.
$BTC is currently valued at ~$64.4K – a 33.33% upsurge since the SEC’s authorization, suggesting there’s still time for $ETH’s price to rally.
Profitable Utility-Driven ERC-20 Tokens
Some utility-driven ERC-20 tokens have recorded significant weekly gains despite $ETH’s recent price drop:
These coins have unique functionalities designed to boost user engagement within the Ethereum ecosystem. For example, $WILD and $SUPER are the backbone of two metaverse ecosystems (Wilder World and SuperVerse) and open in-game rewards.
$WAI also stands out from other meme coins in the Ethereum arena for its utility.
AI Meme Coin WienerAI Nears $7M Before Presale Closure
$WAI uses AI-powered technology and market analysis capabilities to assist crypto traders in finding the best investments.
The trading bot also lets you switch between MEV-protected DEXs, preventing transaction manipulation that may cut into your profits.
WienerAI’s presale will end in five days after raising $7M in less than two months. We estimate $100K investments today due to FOMO, so it may be a good time to buy.
The project’s strategic token distribution (69B), including 20% to community rewards and 20% to staking, should also encourage early investing and HODLing.
During a presale’s last phase, we usually witness increased conversions and buying interest, as investors want to withdraw their crypto straight away.
Moreover, early investors can stake their assets with up to 141% APY, with 7.3B $WAI already staked.
$WAI currently costs $0.00073 per token, but we predict the coin’s price will reach $0.0045 post-listing, likely spurred by its high staking rewards and the overall meme coin trend. This is a 144.17% gain for investors that get in on the action now, and 500% for the earliest investors.
Buy $WAI by heading to the official WienerAI website, connecting your chosen crypto wallet, and selecting the amount you want to acquire.
Our Verdict – Are $ETH-Based Utility Projects the Answer?
Despite $ETH’s price drop following the SEC’s recent approval of $ETH ETFs, the cryptocurrency may recover and pump in the coming months – just as $BTC did in March.
As the crypto market keeps maturing, driven by speculative and utility-driven projects, innovative coins like $WAI may contribute to Ethereum’s next growth phase.
Investing in cryptocurrencies with real-world functionality may be the answer for investors looking to profit from emerging trends.
References
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Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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