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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