JPMorgan is struggling to find a catalyst for higher Bitcoin and Ethereum prices: KangaMoon presale is on pace to hit $7 million.

index

In the current relief rally, leading cryptocurrency Bitcoin has fallen back to $62,500, while other cryptocurrencies have recorded massive declines. JPMorgan made headlines with its analysis as it maintained a cautious stance on Bitcoin and Ethereum in the near term, suggesting there are no immediate catalysts for a bullish price move. Meanwhile, KangaMoon (KANG) has secured over $6.5 million in revenue funding and could become the next 100x altcoin in 2024.

JPMorgan said Bitcoin will remain weak in the near term.

Wall Street giant JP Morgan has maintained a cautious stance on the cryptocurrency market and indicated that there is no immediate catalyst to trigger a bullish move in the Bitcoin market. The bank is banking on sentiment over the recent Bitcoin ETF outflow and increasing regulatory pressure from the U.S. SEC. Market greed and fear level is 55It reflects a neutral stance.

JPMorgan remains cautious after the Bitcoin price briefly surged due to the launch of an ETF in Hong Kong. In any case, banks are seeing mixed signs about the upside potential of Bitcoin and the market over the long term. Discerning traders can potentially buy the falling Bitcoin cryptocurrency now and reap significant profits in the future. From this perspective, Bitcoin is one of the best cryptocurrencies you can buy right now.

Ethereum price lags BTC. Short-term holders control the market.

After the Bitcoin halving, Ethereum, the second largest cryptocurrency by market capitalization, has performed poorly, showing weak price dynamics in the market. According to Glassnode data, Ethereum’s price is struggling to achieve the capital circulation trend recorded in previous cycles. BTC-ETH price analysis sparked interpretation and interest in cryptocurrency market dynamics.

Ethereum price is in a deeper decline than BTC, showing impending relatively weak performance over the past two years and a lower ETH/BTC ratio. Moreover, Ethereum coin has recently seen a large influx of short-term holders, reflecting the interest of new investors. As the price of Ethereum continues to lag behind Bitcoin, Ark Invest CEO Cathie Wood is optimistic that Ethereum could crush BTC’s market cap in the near future and become the best coin to buy right now.

Kang family pre-sale In ~ Achieved $7 million revenue funding velocity

As Bitcoin and Ethereum continue to explore the market, KangaMoon is strategically positioned for success. Pre-sale gems are experiencing strong market performance and gaining traction in the broader cryptocurrency market. For context, KangaMoon has raised over $6.5 million in revenue funding and achieved an ROI of over 400% in price-value terms.

Additionally, the meme coin project has amassed over 23,000 registered users and over 6,000 holders, proving what an impressive feat KangaMoon is in the market. Essentially, KangaMoon plans to tap into the P2E gaming industry, which is expected to strengthen its value. Meme coins could potentially open up this market to their holders.

The platform will launch a vibrant P2E ecosystem where holders can participate in fun challenges and tournaments and eventually earn rewards and prizes in the form of KANG tokens and rare NFTs. Users can upgrade their Kangaverse characters and purchase in-game characters in the marketplace using KANG tokens.

What’s more interesting is that KANG holders can earn more tokens if they participate to promote the project online. Currently, the Meme Coin project is in pre-sale phase 5 and is selling for $0.025. With a possible Tier-1 CEX listing in the second quarter, experts hint that the price will surge above $1, making KANG the best altcoin to invest in in 2024.