By Eric Dunne
In May, the United States Securities and Exchange Commission approved several spot Ethereum ETFs. This was a critical moment in the cryptocurrency industry as it also provided some regulatory covering for crypto.
The approval also means that traditional investors now have access to Ethereum in a way that is seen as safe. The approval is expected to bring in a lot of money into the Ethereum ecosystem and altcoins at large.
With this, smart investors are searching for the right Ethereum ecosystem projects to get involved in and potentially ride the price spikes that will follow.
Although the launch of these ETFs did not immediately affect the prices of tokens in the Ethereum ecosystem, some tokens are expected to eventually enjoy these spikes. They include the following:
Doge2014 (DOGE2014)
Doge2014 was created to recognize and celebrate Dogecoin’s feat in the crypto industry. Its DOGE2014 native token also wants to replicate Dogecoin’s initial opportunity and price spikes.
The ERC-20 project is tapping into the established Dogecoin community to make its users experience what it was like to buy Dogecoin in 2014.
Apart from the above, there are more reasons Doge2014 stands out:
The project offers staking opportunities that attract users to its platform. It also offers a presale bonus of up to 50% to those who join early.
The token was able to raise more than $140,000 within a short time of kickstarting the presale, showing that meme coin lovers and those who recognize Dogecoin’s success are interested in the token. One Doge2014 token is currently worth $0.000288 and it will be finally listed at $0.000348.
MATIC and LDO have grown and attracted many investors, with both worth billions of dollars. However, Doge2014 provides a ground-floor opportunity, having raised only around $200,000 in the presale.
If the token rises to a billion-dollar market capitalization, just around 5% of Dogecoin’s current worth, it could change the lives of those who buy and hold from the presale.
Doge2014 developers have also announced a possibility of a 1000% spike following the token launch owing to interest from top exchanges and some other activities around the ecosystem.
The project is already building its strong community from the ongoing presale. To join, connect your wallet to the presale website and fill in the right information in the required boxes. You can secure the token using ETH and USDT.
Polygon (MATIC)
Polygon provides a boost for Ethereum scalability. It offers sidechains that increase transaction throughput and also reduce cost.
An increase in demand for Ethereum is likely to necessitate Polygon’s solution for scalability. The Ethereum ETF approval is expected to bring more projects to Polygon since it is fully ERC-20 compatible and also stands as a secure alternative for building complex dApps on the Ethereum ecosystem.
The project has some planned updates for the future and also enjoys the backing of major institutional investors.
MATIC has a market capitalization of more than $4 billion. Its price is around $0.4 at the time of writing.
The low cost of buying the token could attract investors who think Ethereum is already costly and may not have wild spikes like it used to.
Lido DAO (LDO)
Lido DAO focuses on decentralized liquid staking and allows users to stake their tokens on blockchains like Ethereum and other proof-of-stake platforms.
This is different from the traditional ETH staking method that requires multiples of 32 ETH. When this is done, users receive stETH tokens, which can be useful on other platforms.
LIDO DAO’s solutions aim to lower entry barriers into staking. More so, Ethereum ETF is expected to bring more institutional investors to the Ethereum ecosystem, and this could increase the demand for staking services, drawing users to the Lido DAO platform.
Staking generally attracts users due to the incentives gained from such activities. Programs that offer passive income tend to be attractive to large fund investors, especially those who are not interested in speculative trading.