Cardano adds 17% as analysts monitor 3 altcoins
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Bullish macroeconomic CPI and inflation announcements in the U.S. have paved the way for a “Santa rally” in December. Investors are now eyeing the Bitcoin ETF approvals expected in January. The Securities and Exchange Commission (SEC) authorizes this product, prices might extend gains.
Cardano (ADA) appears to be leading the way, adding 17% in the last 24 hours. Meanwhile, the coin is up 46% this week and 78% this month.
Its commendable price action results from market participants rallying behind its narrative of being a more secure and decentralized Ethereum alternative.
However, it has begun to outperform Ethereum (ETH) because the narrative was previously criticized for Cardano’s lack of adoption, but this has all changed with a growing number of dapps and rising total value locked (TVL) on the chain.
With that in mind, let’s look at three other projects that analysts believe could rally:
Bitcoin ETF Token
Bitcoin ETF Token rewards holders as Bitcoin ETFs are approved.
With the first deadlines for ETF applications less than one month away, the project’s presale has raised over $3.9 million. It has a $4.96 million hard cap.
YouTuber ClayBro recently predicted Bitcoin ETF Token to rally.
The analyst concluded that the likelihood of the SEC approving Bitcoin ETFs is high, and the project would likely benefit.
Bitcoin ETF Token rewards holders primarily through its deflationary burn mechanism. It has allocated 25% of its total supply to be burned across five Bitcoin ETF milestones. Moreover, it features a 5% burn tax on transactions that will reduce by 1% at each milestone.
The platform also has a staking mechanism offering a 70% APY and a Bitcoin news feed, updating users on the latest events.
Meme Kombat
Meme Kombat is a play-to-earn (P2E) meme coin that also integrates a gamified arena.
Users can stake on AI-generated battles between meme coin characters, an immersive and engaging way to earn crypto.
The users will bet with MK,a utility token.
YouTuber Austin Hilton describes the project as “completely new” and that he “has never seen anything like this.”
Meme Kombat also supports staking. The project currently offers a 286% APY, but this will decrease as the staking pool grows.
The project’s team is also public and its smart contract have been audited.
TG Casino
TG Casino has raised $3.9 million in ten weeks in the ongoing presale.
In a recent update, the TG Casino team said players have wagered over $38 million on the platform, with net deposits equating to $3.7 million.
It also said the platform has over 2450 active players.
Analyst Eric Cryptoman recently backed the project, saying it could be a “top runner” once it launches on exchanges.
Eric referenced the project’s security measures, including a team know-your-customer (KYC) audit.
TG Casino launched on Telegram. As such, users can play directly from the Telegram application on desktop or mobile.
It is KYC free and regulated and offers hundreds of games and sportsbook events to bet on.
Moreover, TGC holders receive rewards, a 25% cashback on losses, access to games and rooms, a 158% staking APY, and more.
TGC is currently available for $0.185, but this will rise incrementally throughout the presale.
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