US fund manager Grayscale, one of the first Bitcoin ($BTC) and Ethereum ($ETH) ETF issuers, filed for a Cardano ETF (exchange-traded fund). If approved, it would be the first-ever Cardano ($ADA) ETF.
The Delaware Trust Company will act as the trustee for the ETF, and the Coinbase Custody Trust Company will keep the trust’s $ADA in cold wallets.
$ADA now ranks #9 among all cryptocurrencies, with a $28B market cap and $1.18B 24-hour trading volume.
Investors have been anxious about the token’s future, as it’s been hovering around $0.6 the entire week, nearly 80% below its all-time high. But the ETF news pushed $ADA up 16%.
The market was quick to react, and we can expect even more bullish action if the ETF materializes.
A Cardano ETF would not only drive the $ADA price to record heights but also set a precedent for other crypto.
As such, let’s take a look at the hottest altcoins to ride the Cardano ETF hype this year.
1. Solaxy ($SOLX) – The First Solana Layer-2 Solution for Efficient Transfers
Cardano’s appeal lies in its utility, so technology-focused altcoins will be the first to benefit from its ETF approval – particularly those that present innovative use cases.
Solaxy ($SOLX) is a prime example of a project pioneering in uncharted territory. There’s no shortage of Ethereum Layer-2 solutions, but Solaxy will develop the world’s first Layer-2 for Solana.
It strives to speed up transaction processing, reduce fees, and mitigate congestion by handling part of Solana’s workload off-chain. On top of that, Solaxy bridges Solana with Ethereum for smooth cross-chain transfers.
Solaxy’s native token, $SOLX, is now available on presale at $0.001632, but the price is set to increase in two days. Early adopters have invested nearly $20M so far, a substantial part of which will go toward the network’s upgrades.
You can find out more in our $SOLX price predictions article, and here’s more information on how to buy Solaxy.
2. Bitcoin Bull ($BTCBULL) Backs $BTC’s Path to $250K with Token Airdrops
Bitcoin Bull ($BTC) is a meme coin that appeals to Bitcoin maximalists as it celebrates the OG crypto’s new records with $BTC airdrops. $BTCBULL holders will receive airdrops when $BTC hits $150K, $200K, and $250K.
Additionally, $BTCBULL employs a deflationary system where it burns part of the total token supply when $BTC reaches $125K, $175K, and $225K. This could increase the token’s value through artificial scarcity.
While $BTCBULL cheers on $BTC’s journey to $250K, it runs on Ethereum for seamless interoperability with the broader blockchain ecosystem. This means you can hold $BTCBULL in any ERC-20 compatible wallet – but to receive $BTC airdrops, you must store it in Best Wallet.
The presale kicked off yesterday and has already raised $519K. One token now costs $0.002355, the lowest possible entry price into the project.
3. MIND of Pepe ($MIND) Delivers Unbiased, Data-Driven Insights to Its Community
MIND of Pepe ($MIND) is a new AI agent that is capable of analyzing market data, engaging in discussions on social media, and delivering exclusive insights to its token holders.
As the AI agent evolves, it could launch its own ERC-20 tokens and create viral content, which would expand its reach and attract new community members.
AI agents combine the best of both worlds: human ability to learn, reason, and act autonomously and AI’s unbiased, data-driven data analysis. Theoretically, this results in more objective trading advice and fewer losses.
$MIND token holders benefit from access to the agent’s datasets, governance rights, and a 398% staking APY.
The token presale started in January and raised $5.7M so far. One $MIND now costs $0.0033055, but the price will increase as the project progresses toward its milestones.
4. Litecoin ($LTC) Surges 30% As the SEC Fast-Tracks ETF Application
Litecoin ($LTC) rose by 30% this week, now trading at $130 as several fund managers filed for $LTC exchange-traded products (ETPs). Namely, the SEC fast-tracked Canary Capital’s application for an $LTC ETF, and European entity Virtune included $KTC in its Crypto Altcoin Index ETP.
Regulators may perceive $LTC as having greater legitimacy than other altcoins because it’s a hard fork of Bitcoin.
In other words, Litecoin is built on Bitcoin’s backbone but has faster block times due to its unique hashing algorithm. If $BTC is digital gold, $LTC is digital silver.
While $LTC is far from its all-time high of $412 recorded in 2021, it has high odds of breaking new records this year as institutional capital flows into the ecosystem.
5. Toncoin ($TON) Could Explode After All Telegram Apps Migrate to Its Network
The Open Network’s Toncoin ($TON) is the 16th largest cryptocurrency by market cap, with a 83% year-to-date growth. However, last month was bearish for $TON as it dipped 27%.
This might change on February 21, as all Telegram mini-apps will have to migrate from other blockchains to TON.
Telegram has over 950M active users, half of whom use mini-apps (mostly games) regularly. If all Telegram apps exclusively use TON as their infrastructure, the demand for $TON will skyrocket.
The $TON community on CoinMarketCap is bullish. Even those rooting for more flexibility realize Telegram developers have no other choice but to migrate. $TON now trades 52% below its June all-time high, but might explode in the upcoming weeks.
Cardano ETF Could Set a Precedent
The potential approval of a Cardano ETF could trigger a broader altcoin rally. But it wouldn’t be zero-utility meme coins leading the charge; instead, investors seek solutions to real problems that would drive blockchain adoption.
Solaxy, Bitcoin Bull, and MIND of Pepe are some of the best presales this year due to their innovative applications. Established projects like Litecoin and Toncoin might also see some action.
However, we remind you that gains are never guaranteed. The crypto market is unpredictable, so DYOR and diversify your investments.
