● A supply glut might be responsible for Bitcoin’s (BTC) slump.
● Ethereum (ETH) loses momentum as ETF approval seems further away.
● Milei Moneda ($MEDA) offers huge gains and enticing benefits to investors.
Bitcoin (BTC) stumbles as the US government releases over $100 million of BTC into the market. Ethereum (ETH) loses value as financial advisor calls for spot ETF approval delay. Meanwhile, investors continue investing in Milei Moneda’s ($MEDA) presale.
How much have these developments affected Bitcoin and Ethereum’s prices? And why do investors see $MEDA as the best crypto to invest in now? Let’s find out!
Economize Like Milei: Invest in $MEDA!
US Government-Owned Wallet Moves Bitcoin To Coinbase
On April 2, 2024, Bloomberg reported that a US government-owned digital wallet had transferred 2,000 BTC to Coinbase Prime. The wallet contained funds seized from Silk Road, a website that used BTC for illicit trade. The funds were seized in 2013, while the operator, Ross William Ulbricht, was imprisoned for life.
The wallet initially sent $65 worth of BTC to test the transaction channels. When the receipt was confirmed, the larger Bitcoin stash, worth around $132 million, was then transferred.
Analysts say this supply glut might have contributed to BTC’s sharp drop since then. Since this transaction, Bitcoin has lost 5%, falling from $69,705 to $66,207.
However, analysts expect the imminent Bitcoin Halving to rectify the excess supply. BTC is then projected to reach a new ATH of $159,156 after the Halving.
New Ethereum ETF Applicant Advocates for Delay in Approval
In an interview with Forbes released on March 31, 2024, Matt Hougan, chief investment officer for Bitwise Asset Management, advised that the US SEC should shift the approval for the spot ETF Ethereum applications to December.
Bitwise was one of the asset managers who received approval for a spot BTC product earlier this year. The company has also become the latest applicant for a spot Ethereum ETF.
Hougan said institutional investors and TradFi should be allowed to get used to the idea of a cryptocurrency ETF, which is why ETF approvals should be moved from the widely predicted May. He explained that approving the ETH ETFs less than four months after that of BTC could lead to underperformance for the ETH ETFs.
Since Hougan’s statement, ETH has lost 5.4% in value, falling from $3,507.95 to $3,319.17. Analysts say Bitcoin’s slump and the unlikeliness of an early ETH ETF approval might have caused the dip.
However, they expect ETH to pump to $6,648.50 during the 2024 bull market.
Why Investors Love Milei Moneda
Milei Moneda is a unique meme coin that includes politics in the regular humor that meme coins are known for. The project is inspired by anarcho-capitalist and crypto supporter Javier Milei. So, it supports his radical political and economic views.
One great aspect of Milei Moneda is its vibrant community. The community is present on Discord, X, and Reddit. Community activities include virtual events, Q&A sessions, and regular giveaways.
However, Milei Moneda’s main selling point is its presale gains. The presale is currently in Stage 1, and you can buy $MEDA for $0.010. If you buy $MEDA now, you earn a 100% profit when the project launches at $0.020. This guaranteed profit has attracted many investors.
Interestingly, there is also the possibility of more gains after launch. This is because five percent of $MEDA’s 500 million supply will be burned, creating scarcity and boosting the token’s price.
Other benefits of owning $MEDA include voting rights, access to exclusive NFT collections, NFT staking rewards, and discounts.
Milei Moneda protects investors’ funds through smart contract audits, locked liquidity, and zero team allocations. All these show why $MEDA is now considered the top crypto to invest in.
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