Is Crypto Dead? Will Crypto Pump? Discover real-world applications of utility tokens & crypto projects as we unpack state of market June 2024.
In 2024, Bitcoin got its long-awaited Spot Bitcoin ETF, and markets also witnessed the Halving event, and Ethereum seemingly landed spot ETF approval—yet, crypto isn’t soaring. Is the altcoin season already a bust?
Not a chance. Bitcoin is following the 2017 bull market script. If the trend holds, we’ll escape this rough patch in 10 days, and utility tokens might lead the charge in price action.
#Bitcoin has been closely following the 2017 bull market playbook.
If it keeps up the similarities, we'll be leaving this choppy purgatory in about 10 days.
It's time for expansion. You ready? pic.twitter.com/mohEhy3yup
— Jelle (@CryptoJelleNL) June 4, 2024
What Are Utility Tokens And Why Are They Going to Be Big?
Utility tokens differentiate themselves from meme coins through their real-world applications.
Unlike speculative meme coins, utility tokens are your ticket to real products and services within a crypto ecosystem.
Think Toncoin for Telegram, MANA for Decentraland, and Basic Attention Token for Brave Browser.
These tokens offer more than transaction fee savings—they grant access to exclusive perks and voting rights on key decisions, giving them a shot at long-term survival that meme coins can only dream of.
Some Utility Tokens To Consider
There are many gold-standard utility tokens to consider investing in. Here are our favorites:
- Ethereum: ETH is the first smart contracts platform making it possible to create decentralized apps. What makes it stand out is it is the most decentralized of the smart contract blockchains giving it an edge in the eyes of institutions
- Solana: What Solana loses in decentralization as a smart contract platform it makes up in speed, networkability, the number of apps, and low transaction costs.
- VeChain: We had the pleasure to interview the VeChain founder Sonny Lu at Consensus 2024; VeChain is making a pivot to VeBetterDAO which will be a one-stop social media app for all your sustainability life choices
- Sui: One of the top competitors to Solana and other smart contract platforms at the moment
- Theta Network: The Theta network is decentralized Netflix, and focuses on decentralized streaming
- 99Bitcoins Token: With a historic presale finishing up, the 99BTC token is a learn-2-earn crypto that is making huge waves
- Metis: Created by Vitalik Buterin’s mom, Metis is an Ethereum-scaling solution interested in keeping ETH decentralized
- XRP: Aimed at being a bank-backed cryptocurrency, XRP has one of the most fervent crypto communities.
DISCOVER: More Top Altcoins to Buy In June 2024
Is Crypto DeaD? Here is Why The Market is About to Go Way Up (ETH ETF Impact)
The SEC greenlit 11 spot Bitcoin ETFs, pulling in over $12 billion. Now, Ethereum ETFs are primed to shake up the market and already has with Ethereum hitting $3,973 in May and closed above $3,770 on Tuesday.
Analysts say these Ethereum ETFs might start smaller but could explode in growth. Joel Kruger of LMAX Group is bullish on Ethereum, citing recent regulatory wins and rising adoption.
“Given the positive momentum on the adoption and regulatory fronts, we suspect ETH will indeed succeed in making a fresh record high,” says Kruger.
Final Thoughts on Will Crypto Pump in June 2024: The Dam is About to Break
With the introduction of spot Ethereum ETFs, ETH and utility tokens could soon be poised for new all-time highs.
Remember: When most of the mainstream is bored to tears in crab markets like these, the best opportunities arise.
EXPLORE: Crypto Developments In Asia: UAE, Singapore and Bangkok In Focus
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
