This Week in Crypto: Ethereum Update, Toncoin Buzz and Raboo Takeover!
- Ethereum poised for price surge after ETF launch
- Toncoin surges as market capitalisation hits $19 billion
- Raboo: The AI meme coin set to redefine community engagement and growth in crypto
- Conclusion
The crypto market can be said to be generally bullish over the past few months, but the last seven days have seen price corrections with most tokens experiencing a decline. Ethereum which saw a little drop in price and Toncoin by almost 10% in the last 24 hours were not really affected.
Meanwhile, a new presale token Raboo continues to make headlines this week. With over $1.8 million raised, this token is on track to take over the memecoin ecosystem. Currently in Stage 4 with an impressive 60% increase since Stage 1, Raboo has been tipped as one of the best altcoins to invest in this year.
Ethereum poised for price surge after ETF launch
Despite declining by 4% this week, Ethereum’s investors are hopeful for a surge upon the approval of the S-1 forms required to kickoff the official trading of Ethereum Exchange Traded Funds (ETF). Although there is no definite data regarding the approval date, positive comments from the SEC Chairman, Gary Gensler have inspired predictions from Bloomberg’s Eric Balchunas that July 2 is the most probable approval date.
Ethereum's ETF issuers have disclosed receiving light comments on their S-1 filing forms with the US Securities and Exchange Commission requesting a response within a week. This development has inspired predictions that the ETFs may be declared effective before the holiday weekend in the US.
Furthermore, Bloomberg’s Eric Blachunas opined that the revised timeline for the Ethereum ETF launch confirms that the approval process is now straightforward with a focus on engaging issuers constructively. Meanwhile, the continued buzz around Ethereum’s ETF approval affirms growing investor interest in crypto-based financial products.
Toncoin surges as market capitalisation hits $19 billion
Toncoin is now the 8th largest cryptocurrency after its market capitalization hit $19 billion. Currently trading at $7.03, representing an 9.02% growth on monthly chart, Toncoin is poised for more growth amidst renewed investor confidence and increased adoption that affirms Toncoin as one of the best cryptos to buy in 2024.
Active Toncoin wallets have surged from 1.28 million to over 8 million, underscoring expanding user adoption. Toncoin's presence in the tap-to-earn sector, competing with platforms like Notcoin, has been notable, buoyed by initiatives such as TapSwap and an upcoming airdrop aimed at enhancing user engagement and token liquidity.
Recent TVL milestones, surpassing $600 million, highlight Toncoin's rapid ecosystem expansion, driven by protocols like DeDust and others experiencing significant growth. Strategic partnerships, including with Telegram and investments by Pantera Capital, have further boosted Toncoin's outlook, despite cybersecurity challenges.
Raboo: The AI meme coin set to redefine community engagement and growth in crypto
Raboo, a new AI meme coin, is poised to revolutionize the memecoin landscape by integrating social-fi and artificial intelligence technology. With a focus on fostering an active and enthusiastic community from the outset, Raboo aims to build a vibrant community of meme enthusiasts who will be able to earn rewards and prizes, translating them into real-world value.
The presale token innovative features, especially its Post-to-Earn feature, offers memecoin enthusiasts an opportunity to monetize their social media content. This initiative is designed to connect memecoin enthusiasts globally in an ecosystem that supports investments in memecoins.
Crypto analysts are bullish on Raboo's potential, predicting a significant growth trajectory. During the presale phase, Raboo's price is expected to increase by 233%, with projections suggesting a staggering 100x growth on its launch day. Raboo's prospects for lucrative returns affirms that it is one of the best cryptos to buy in 2024.
Raboo has already made substantial progress, with the token priced at $0.0048 in Stage 4. Raboo currently has over 8,000 registered users and more than 2,500 token holders, underscoring growing community interest and participation. With its smart contract audited by SOLIDProof, Raboo aims to secure trust and confidence among its users as it strives to become a top 20 cryptocurrency by market capitalization.
Conclusion
While the crypto market continues to buzz with excitement inspired by potential approval of Ethereum’s ETFs and Toncoin’s surge, Raboo's impressive growth continues to grab headlines. Crypto analysts have identified its potentials for up to 233% growth during presale as one of the reasons why it is one of the best altcoins to invest in.
You can participate in the Raboo presale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official
