Ethereum (ETH) recently got its long-awaited spot ETF approval from the SEC a few weeks ago while Sui (SUI) plans to host a showcase in Vietnam a few days from now. Even though these alpha altcoins are doing well in the market, investors are currently occupied with the growth potential of Algotech (ALGT). Keep reading to see expert forecasts and opinions on these tokens.
Algotech: Simplifying Crypto Trading and Investment
Algotech is a decentralized algorithmic trading platform that aims to provide crypto traders with futuristic trading strategies such as hedging, trend following, and mean reversion. When you invest early in Algotech, you get partial ownership of their trading software and share in dividends. For context, Algotech takes a 30% fee from users who make profits with its trading algorithms and ALGT holders get their share of this performance fee.
Investors are buying into the Algotech vision and ALGT was able to raise $1.1 million during its seed/private sale as a result. Currently, ALGT is ready for its first presale stage and the token will sell for $0.04. After all presale stages conclude, ALGT will launch on the crypto market and trade for $0.15. As a result of this bullish price trajectory, ALGT early buyers will enjoy a massive 275% ROI on their initial investment.
Ethereum Surges Weeks After ETF Approval
On May 23, the US Securities and Exchange Commission (SEC) approved Spot Ethereum ETFs. According to recent Ethereum news, the approval came in after the SEC received proposals from Nasdaq, NYSE, and CBOE exchanges to allow Ethereum ETPs and ETFs to trade on their platforms. Unfortunately, trading did not start immediately because the SEC needed to approve ETF registration statements from individual investors.
However, the Ethereum community received the news in good faith and ETH recorded a double-digit price surge in June. On May 20, ETH traded for $3,152. By June 5, ETH already gained 20.99% and traded for $3,800. Right now, analysts believe ETH will hit $5,000 before the end of the year thanks to the recent Ethereum ETF approval. Once individual Ethereum ETF registration statements are approved, ETH will likely go on a bull run.
Sui Prepares for Vietnam Showcase
On June 7, Sui will host its long-awaited showcase in Vietnam. According to reports, the Sui Showcase is set to be held at the Thiskyhall Sala Convention Center and it will feature a lot of blockchain experts. Some of these experts include Hannie Tran (CEO & Co-founder at Desig Labs), Nina Doan (Core contributor to the Coin98 Super Wallet), Jenny Nguyen (COO at Coin68), and Ranier Gadduang (Head of growth marketing at the Sui Foundation).
Due to the excitement in Sui’s ecosystem, Sui stayed bullish in the first week of June. On May 29, SUI traded for $1.04. A week later, SUI gained 4.83% and sold for $1.09. Experts believe the upcoming SUI showcase will serve as a catalyst for a price surge in Q3 2024. Leading DeFi companies like Pyth Network, FloxX Finance, and Scallop will sponsor this event and investors are paying attention. As a result, SUI may likely trade for $1.50 by July.