Cardano Price Prediction: ADA Soars 24%, but Traders Are Turning to This Bitcoin ETF Coin to Ride the Next Bull Market.

adminDecember 10, 2023

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Cardano price has traded up 24% in the last 24 hours. $0.5881 1:30 AM EST.

According to renowned X analyst @IvanOnTech, Cardano price could soon surge to $0.75.

$ADA It runs as expected!!
It will probably drop to $0.75 soon https://t.co/Wgry6NDaIw pic.twitter.com/IDDETBqGLE
— Ivan on Tech – Moralis provides the best web3 API (@IvanOnTech) December 8, 2023

Cardano price prediction

Looking at the 1-hour ADA/USD chart, the 50-day moving average is crossing the 200-day moving average, forming a golden cross. This shows buying pressure on Cardano as bulls look to retest the $0.6 level.

The Relative Strength Index indicator is currently in overbought territory, while MACD is moving in the green zone, showing a bullish edge over ADA.

Looking at volatility, the Bollinger Bands are moving far apart, showing high volatility in the Cardano price. This may be due to Cardano’s trading volume surging 281% in the last 24 hours.

Meanwhile, the new BTCETF token is making waves with pre-sales as Cardano’s price soars and investors flock to the project every day. The current pre-sale amount is over $3.1 million, demonstrating investor confidence in the project.

Cardano Price Prediction: Is BTCETF Token a Better Investment than ADA?

As expectations rise for a decision from the Securities and Exchange Commission on spot Bitcoin ETF applications in early 2024, Bitcoin ETF Token (BTCETF) Pre-sale It’s gaining significant traction. This cutting-edge ERC-20 token aims to benefit from the acceptance and introduction of a regulated spot Bitcoin investment vehicle.

BTCETF is already proving to be an attractive investment, having raised an impressive $3.1 million in pre-sale transactions. The price of the token is currently at $0.0064 and has been increased several times. This is a notable increase from the launch price of $0.005 per BTCETF during the pre-sale phase.

BTCETF plans to implement a deflation strategy by burning 25% of the total token supply in five stages according to the ETF approval process. An additional 5% burn is expected once Bitcoin reaches a value of $100,000, reducing the circulating supply to 1.575 billion tokens.

In addition to these deflationary measures, BTCETF will permanently delist tokens and impose a 5% transaction fee on all buy and sell transactions.

Milestones in the BTCETF journey include total assets under management (AUM); Bitcoin ETF It exceeded 1 billion dollars.

Milestone-based token economics

BTCETF’s innovative token economics additionally includes milestone-based adjustments. For example, when Bitcoin ETF AUM reaches the fourth milestone of $1 billion, transaction taxes will be reduced to 1% and 5% of circulating tokens will be burned.

The fifth milestone, when Bitcoin reaches $100,000, will result in the removal of the 1% transaction tax and an additional 5% token burn.

BTCETF’s unique tokenomics provides traders and investors with the potential for upside gains and indirect exposure to the SEC-approved and regulated spot Bitcoin ETF.

The success of the BTCETF presale and the prospect of significant product inflows into Bitcoin could contribute to an all-time high for the Bitcoin ETF when it launches in early 2023.

The deflationary dynamics inherent in the structure of BTCETF may cause the token price to increase exponentially beyond the current pre-sale rate.

BTCETF’s pre-sale has been an incredible success, driven by regulatory expectations and strategic token economics.

As the SEC’s decision approaches, BTCETF’s trajectory is closely tied to the changing landscape of Bitcoin ETF approvals. So, don’t forget to check the BTCETF token while paying attention to the Cardano price.

Get BTCETF tokens here.