Altcoins
What Investors Need to Know – TradingView News
The approval of Ethereum ETF sparked competition between Ethereum ETHUSD AND Solana 
Analysts suggest that layer 1 blockchains such as Avalanche CRYPTO:AVAXUSD and Cardano 
Altcoins: a mixed bag
According to analysts, the influx of new investors through the Ethereum ETF could create a “rising tide that lifts all boats” effect. Established altcoins like Cardano and Polka dot (CRYPTO: POINT), known for their strong utility features and established developer communities, could see substantial price increases. These altcoins, which offer real-world solutions, can attract investors looking for broader exposure to the blockchain ecosystem beyond Ethereum.
However, a “flight to quality” scenario may emerge. New investors, prioritizing perceived stability, may favor Ethereum over riskier altcoins, potentially causing a temporary decline in the prices of smaller altcoins, particularly those struggling with unclear scalability or roadmaps.
www.benzinga.com/events/digital-assets
Meme Coins: A Speculative Game
Due to the increased attention of the cryptocurrency market, meme coins are popular Dogemoneta 
Projects with long-term value propositions and proven technologies could become more attractive to investors as the market matures, possibly leading to a “meme coin top” where only the strongest meme coins with real-world applications or unique features.
Ethereum vs. Solana: the battle for supremacy
Ethereum ETF could see the price of Ethereum reach new highs due to growing investor interest. However, Solana’s potential approval of the ETF could balance the competition in the long term. The success of both platforms depends on solving scalability issues.
Ethereum’s transition to Ethereum 2.0 promises improved transaction speeds and low fees, while Solana offers high speeds and low fees but faces challenges such as network congestion and potential centralization. The platform that balances speed, security, and scalability will likely dominate the smart contract space.
Layer 1 Blockchain: Potential Rebirth
Despite recent challenges, layer 1 blockchains like Avalanche and Cardano could benefit from a broader market surge. Avalanche is known for its fast transaction speeds and low fees, while Cardano focuses on security and a search-oriented approach.
These projects must attract developers and build robust decentralized ecosystems to thrive. Layer 1s that offer real alternatives to Ethereum are more likely to experience a resurgence.
Navigating a fiery market
The Ethereum ETF marks a fundamental shift in the cryptocurrency market, offering opportunities and challenges for several sectors. Investors should focus on specific use cases, technological advancements, development roadmaps, and community involvement in various projects.
Staying informed about regulatory developments and technological innovations is critical to navigating the evolving Web3 space. While meme coins may offer short-term excitement, established altcoins and Layer 1s with strong development teams and clear value propositions are probably the best bets for long-term gains.
Where to find out more
As Benzinga’s Future of Digital Assets event approaches, insights into Ethereum and its impact on the broader cryptocurrency market are especially relevant.
Scheduled for November 19, 2024 at Convene, 225 Liberty St. in New York City, this one-day event promises a comprehensive exploration of digital asset innovation. Attendees can expect networking opportunities and discussions with industry leaders, making it an unmissable event for anyone interested in the future of digital assets.
Photo: Courtesy of Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.