Although the price of Bitcoin has been flat since the SEC approved spot ETFs. However, a prominent Bloomberg ETF analyst has pointed to the remarkable volumes being recorded across spot BTC ETFs.
The top altcoins looking to capitalize on this growth are Ethereum Classic (ETC) and Pullix (PLX). Analysts expect the price of ETC to jump above $30 while PLX prepares for a 10x rally. Let’s find out why these are the best altcoins in the market now.
Spot Bitcoin ETF Products Near $10 Billion in Three Days
The cryptocurrency market celebrated a landmark moment when spot ETFs were approved by the SEC. Investors haven’t yet seen the anticipated price hike upon spot ETF approval, but there are indications that this is about to happen.
Popular Bloomberg ETF analyst James Seyffart clarified that in just three days of open trading, the total volume across these ETFs reached $9.771 billion. The amount in GBTC is $5.174 billion. This enormous amount demonstrates the institutional investors’ intense interest in Bitcoin.
Many cryptocurrency specialists are therefore optimistic about BTC. Analysts predict that Bitcoin will soon reach $50,000 even if the price hasn’t been able to overcome the $44,000 obstacle since the acceptance. With the halving happening soon, Standard Chartered has tipped Bitcoin to hit $200,000 by late 2025.
Pullix (PLX) Soars 100%, Looks Forward To 10x Surge
Pullix (PLX) is one of the top altcoins that have defied the Bitcoin downtrend. The price of the DeFi coin has increased by 100% to touch a new high of $0.08. However, as the launch of the Pullix platform approaches, analysts have forecasted a 10x price surge for the PLX DeFI coin.
Market experts are bullish about PLX because of its hybrid exchange, which wants to change the crypto trading space. As a hybrid exchange, Pullix offers low fees, very quick transactions, self-custody, increased efficiency, and privacy. A key differential of Pullix is the access to multiple markets. Users can trade stocks, forex, and commodities on this DeFi project.
Another feature that has attracted users to Pullix is its earning opportunities. Users can earn PLX tokens by contributing to liquidity through staking LP Tokens. Every transaction on the Pullix Swap exchange incurs a small fee of 0.25%, which is then added to the Pullix pool as LP tokens.
These LP tokens are converted into PLX and distributed among Pullix LP token holders in the pool. This process not only enhances the value of their holdings but also offers consistent growth in their investment without the need for active management.
The Pullix team has announced that the DeFi project will be launched before the end of the first quarter. This has excited users, with investors raising over $3.8 million in just a few weeks.
Ethereum Classic (ETC) Soars 40%, Set To Reclaim $30
Ethereum Classic (ETC) has been one of the best altcoins since the approval of spot Bitcoin ETFs. The price of ETC has increased by more than 24% on the weekly chart and as much as 40% over the last month. Thanks to this massive surge, the Ethereum Classic price topped $30 for the first time since September 2022.
Although the Ethereum Classic price has retracted under this key support level, analysts remain optimistic about ETC. A major reason is that the project has dissolved its core team as it transitions into decentralized community governance. Seen as a major move in the future of Ethereum Classic, ETC is expected to rise in the coming weeks.
Closing Thoughts
The rising volume across spot BTC ETFs suggests a bigger trend could be happening for Bitcoin. However, Ethereum Classic and Pullix have already emerged as one of the top beneficiaries. However, as the launch of Pullix approaches, analysts have forecasted a 10x surge for PLX. This makes now the perfect time to join the Pullix train.