Anthony Pompliano, the founder of Professional Capital Management, anticipates that the price of Ethereum will rise now that Ether ETFs have officially started trading in the United States.
However, Pompliano believes that the potential price appreciation of Ethereum may not match the significant increase seen in Bitcoin following the approval of BTC exchange-traded funds.
Still, the Ether ETFs news, he told CNBC in an interview this week, is a positive for the broader crypto space (which now includes Poodlana).
Why do Ether ETFs matter for Poodlana?
Pompliano forecasts the Ether exchange-traded funds to not be as big as the Bitcoin ETFs. Still, on “Squawk Box”, he said:
What this signals to me is that all of the altcoins will come to Wall Street. It may take a while, there may need to be some regulatory clarity, but these things will come to Wall Street.
If true, it would be a significant development since such a widespread acceptance of cryptocurrencies will reflect not just in the bigger, more notable names, but perhaps also in the smaller, up-and-coming projects like Poodlana.
Political developments are favoring crypto
POODL – the native coin of Poodlana may be an exciting investment at writing as the Ether ETFs are not its only catalyst.
Continued inflows into Bitcoin ETFs remain a tailwind for the crypto industry as well. In fact, the BlackRock Bitcoin ETF “has had more net inflows than QQQ year-to-date,” as per Anthony Pompliano.
Plus, political developments are turning favorable for the crypto industry. Bitcoin crashed after the attempted assassination of Donald Trump but climbed right back up once news followed that he’s safe, indicating the crypto enthusiasts see a Trump presidency to be a positive for cryptocurrencies.
And the chances of Donald Trump returning to Office in November have been increasing ever since his debate with Joe Biden last month that ultimately saw the current POTUS resign from the presidential race.
Democrats are uniting behind Kamala Harris now as the presidential candidate for 2024. But Trump has already stated that she’d be much easier to beat in this year’s elections than Joe Biden.
Such crypto-specific and political developments could help the crypto market do well moving forward which may eventually attract more investors to the meme coin projects like Poodlana as well.
POODL token presale is attracting solid demand
POODL has raised more than $2.0 million in just a week of presale that indicates strong demand which tends to signal a good potential investment. The Poodlana token is all the more attractive as it’s priced at $0.0265 only at writing which means you can build a sizable position in it even if you have only $10 to spare at the moment.
The fashionable meme coin started its presale on July 17th and will remain in presale for only a month. Within an hour after that, POODL will list on a decentralized exchange that will make it much more accessible for the potential investors.
Together with rate cuts that are broadly expected to begin in September, Poodlana seems well positioned to experience a demand shock in the coming months that tends to translate into a higher price.
You can find more about Poodlana on its website.
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