Ethereum ETFs failed to replicate Bitcoin ETFs’ quick rise to the top when they launched in July this year. However, over the past ten days, they have been on a roll, attracting billions of dollars as professional investors bet on the largest altcoin. Beyond Ether, investors are turning bullish on Kaspa and jumping on the Yeti Ouro presale.
Ethereum ETFs Blow Up, Kaspa Attracts Investors
This week, Ether ETFs hit a record inflow for a single day, attracting $295 million as the market continues to see high interest. BlackRock and Fidelity continued to dominate the market, with ETHA and FETH ETFs respectively bringing in $101 million and $115 million on Monday.
This brings the total amount invested in Ethereum spot ETFs to $8.56 billion. Despite its continued hemorrhaging, Grayscale’s ETHE still dominates with $4.61 billion in assets under management. This is nearly half of the $8.6 billion it held when spot ETFs launched in July. Its Ethereum Mini Trust ETF, which it launched as an alternative to its premium offering, has been quite popular, racking up $1.15 billion. BlackRock’s ETHA holds $1.56 billion as the third-largest ETF.
Bloomberg ETF analyst Eric Balchunas noted that the dark days of consistent bleeding for Ethereum ETFs may be behind them as Grayscale’s ETFs seem to have stopped the outflows.
Elsewhere, Kaspa, the Proof-of-Work Layer 1 network, has been attracting investors in the ongoing bull market. Starting November 8, the network gained over 45% to hit a one-month high at $0.1593. Its market cap now stands above $3.2 billion despite retracing in the past two days.
While Kaspa hasn’t hit the high bull rallies that some of its peers have been on, it can sustain its rallies for much longer than most projects. The network is built on the GHOSTDAG protocol, which allows blocks created in parallel to coexist. This allows it to maintain the level of security that other PoW networks like Bitcoin offer while still supporting high block rates. Kaspa developers intend to expand the network to support up to 100 blocks per second in the future.
Savvy Investors Flock To Yeti Ouro
Yeti Ouro has emerged as one of the new projects with the highest potential as it combines the attraction of memecoins with the utility of play-to-earn gaming.
Yeti Ouro is built around Yeti Go, a new P2E game where players race against each other in a thrilling course, where they can outwit opponents by pushing them off-course while still dodging the hurdles and obstacles along the way. Players can purchase weaponized gadgets and obtain power-ups to further have an edge over their opponents.
Yeti Go is powered by YETIO, the ecosystem’s native token. YETIO allows players to purchase unique skins and customizations and other powerful in-game items. They also pay to join the races and receive the rewards for defeating the other opponents in YETIO. The items they buy can be sold on an in-game marketplace for YETIO tokens.
Yeti Ouro is built around utility, which most memecoins lack. The token’s demand will always be high as players use it to make purchases and get rewards. Additionally, it has other incentives, such as a one billion supply cap, which is lower than most memecoins, as well as dedicating 5% of this supply to the burn mechanism.
Conclusion
Ethereum remains a solid investment option as it’s still the home of smart contracts, dApps and DeFi. With institutional investors increasingly involved in ETH through Ether ETFs, Ethereum is likely to continue attracting investment into the near future. Investors seeking a different route are betting on smaller but robust projects like Kaspa.
However, those who are in the hunt for the next Dogecoin, or the next Shiba Inu, are investing in Yeti Ouro’s YETIO. With a small supply cap of a billion tokens, a thrilling P2E game and utility for its token, Yeti Ouro is placed to be the next memecoin gem.
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