July 15 Approval Sparks Altcoin Surge

Coinbase, the largest cryptocurrency exchange in the U.S., is reportedly preparing a Polkadot ETF. According to sources, the first approval stage is already scheduled for July 15. A Polkadot ETF would be a big boost for the entire ecosystem. On June 28, the exchange Kickstart It moved the ETF process forward by launching a DOT futures contract, followed by a DOT futures ETF, and eventually a DOT spot ETF.

The announcement has led to a significant increase in trading volumes for Coinbase Derivatives, and market observers say the approval of the DOT ETF is expected to skyrocket altcoins and similar fundamental tokens in the ecosystem.

Polka dot pattern

The first on the list is Kusama Network: Kusama is an experimental blockchain built on Substrate, designed to provide a massively interoperable and scalable framework for developers. It has a market cap of $349M and its token is currently trading at $23.10.

Astar Network is a Polkadot parachain that connects the DOT ecosystem to L1 blockchains such as Ethereum and Cosmos. Another one to watch is Centrifuge, a decentralized asset finance protocol that connects DeFi with real-world assets.

Social Gaming Website Platform engine With over 20 million users and a gaming community of 250,000, the development of an ETF could propel the project to new heights. Manta Networkprovides a scalable execution environment for dApps and focuses on zero-knowledge. [ZK] application, and is another notable project that could benefit from the Polkadot ETF.

Overall, ETFs will create opportunities such as increased exposure to a wider investor base, potential price appreciation, ecosystem development opportunities, and increased marketing visibility within the broader crypto investing community.

Investing in Polkadot promotional activities

Meanwhile, Polkadot’s financials It reported significant financial activity in the first half of 2024. The report said the Treasury spent $87 million. [11 million DOTs] Funds were pumped into various initiatives, including $37 million spent on marketing. But the report sparked controversy: out of $87 million in expenses, only $1.1 million was generated. Community members called for restraints on spending and highlighted the urgent need for accountability.

If Polkadot’s funds continue to dry up in such a suspicious way, the next question may be the future of Polkadot. With $87 million spent in six months and only two years left in the budget, what’s next for Polkadot?


Leave a Comment