The introduction of spot exchange-traded funds (ETFs) in the United States has had a significant impact on the crypto market. After the launch of the Bitcoin ETFs in January, we saw a surge, resulting in a new all-time high (ATH) for BTC.
With the approval of Ethereum ETFs, the possibilities seem limitless, and crypto investors are speculating about which cryptocurrency will receive the next ETF approval.
The news platform Finbold asked ChatGPT-4 for advice on the biggest contenders. The chatbot was presented with five options: Solana (SOL), Ripple (XRP), Cardano (ADA), Binance Coin (BNB) and Polkadot (DOT).
Cardano is the biggest contender
Although Solana and XRP have been in the news recently due to speculation about an ETF fund, ChatGPT thinks a Cardano ETF has the best chance. Based on the current price of $0.45, the AI predicts that the price would initially rise to around $0.55 if approved. After a few weeks, the price could then rise further to $0.60. This amounts to a rapid increase of about 20% and a total increase of 33% thereafter.
ADA could use this positive news. The digital currency has been lagging behind the market for months. Moreover, the meme coin Shiba Inu (SHIB) recently overtook the project after an impressive 18% price increase, only to fall back again.
ETFs continue positive run
The success of Bitcoin ETFs is evident in the recent positive trading period. Since May 13, the funds have attracted new investments every day. During the week of May 13 to 17, ETFs received nearly $950 million, followed by more than $1 billion the following week.
Despite this continued inflow, momentum is waning somewhat. On Tuesday, the funds saw just $45 million in new investments, the lowest inflows since May 13. On Wednesday, net inflows fell further to $28.3 million.
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Source: https://newsbit.nl/chatgpt-voorspelt-dat-cardano-de-volgende-kandidaat-is-voor-een-etf/
