American giant investment management chain Franklin Templeton announced last Monday that it has officially applied for the Ethereum Exchange Traded Fund (ETF), joining seven other competitors in the market.
The US Securities and Exchange Commission (SEC) marked an important milestone for the cryptocurrency industry by allowing 11 spot Bitcoin ETFs in January. This approval has been requested by the crypto industry for over a decade.
The registration of Franklin, which has $1.5 trillion in assets under management, brings the total number of ETF providers offering spot ETFs to eight. This being the case, investors turned their attention to Ethereum alternative coins.
Sponge Token V2 (SPONGEV2) – Attractive ETH Alternative with Impressive APY
At the top of the list is Sponge Token V2 (SPONGEV2), which is gaining increasing popularity. Sponge Token V2 is the second version of the first Sponge (SPONGE) meme coin that became popular among SpongeBob fans. Sponge Token (SPONGE), the original version of Sponge V2, was released shortly after the Pepe Coin craze. This first token experienced significant growth in May 2023, reaching a market cap of $100 million shortly after being listed on Uniswap.
The improved SPONGEV2 aims to regain the same viral coin phenomenon. The initiative effectively creates increased interest and value by enabling investors to secure V1 tokens in exchange for V2 tokens. So, in order to buy or obtain Sponge Token V2, you need to have the V1 version and stake it.
In addition, Sponge is switching to a stake-to-bridge mechanism for V2, offering four-year rewards for those who lock in V1 tokens. More than $8.9 million in tokens have already been staked on the Polygon network, generating an impressive annual return of 1,376 percent. In addition to the staking feature, the makers of Sponge V2 are also ambitious about releasing a play-to-earn (P2E) game later this year.
Potential investors have the option to obtain SPONGEV2 tokens through Uniswap or by visiting the official sponge.vip website.
Smog Token (SMOG) – Meme Coin With $100 Million Target in the Year of the Dragon
Launched just last week, SMOG burst onto the scene with a staggering gain of more than 3,000 percent in its first three trading days. Smog Token quickly gained a fully diluted market cap of over $45 million, and more than 14,600 people have now purchased Smog tokens.
The token’s founders achieved this success with limited marketing efforts, relying mostly on community enthusiasm and the excitement surrounding Solana-based meme coins. SMOG’s appeal is further enhanced by its ETH liquidity pool and staking platform. This project offers a consistent Annual Percentage Yield (APY) of 42 percent and requires investors to lock their funds for a period of 3 months. This stands out as an attractive choice for savvy investors looking to maximize their profits while contributing to the liquidity and stability of the token.
Even though SMOG entered the market early, its subsequent price behavior indicates a positive and optimistic outlook. The fact that more than 10 thousand airdrop tasks were completed before the official event shows that the interest of individual investors is not at all low. So, although SMOG’s value has pulled back from last week’s peak, its multi-chain plans and upcoming airdrop suggest it has the potential to explode upward once again.
With the arrival of the year of the dragon, investors and owners expect a significant increase in SMOG, whose icon is the dragon, estimating that it will reach a market capitalization of $100 million.
Meme Kombat (MK) – Winning Coin with Popular Meme Coins and Battle Arena
Meme Kombat (MK) is gaining increasing attention among investors by integrating play-to-earn (P2E) gaming and staking using meme coins. The project has raised more than $8.7 million since its inception thanks to heavy Meme Kombat token put purchases, indicating significant enthusiasm.
The platform is taking a leading role in combining meme culture with interactive games by offering outcome-based betting, crypto staking and Web3 meme games. One of the most important features of Meme Kombat is the battle arena, where avatars symbolizing popular meme coins (DOGE, SHIB, etc.) join the battle. Using the MK token, users have the opportunity to bet and bet on a number of events that take place in the battle arena, including player versus player (PvP) and player versus game (PvG) battles.
Investors can purchase MK tokens at a price of $0.279 per token. When MK tokens are purchased during the pre-sale, they are immediately deposited into a staking contract. Pre-sale participants are offered the opportunity to earn a significant APY of 108 percent. Currently, there are more than 11 thousand people investing in the staking mechanism, and the total number of MK tokens staked has exceeded 36 million.
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