One of the best indicators of where money is heading in the crypto space is to look at the activities of institutional investors. Institutional investors are market players with a lot of money. Their actions directly affect the potential direction of the market. Therefore, according to experts, the latest moves by Fidelity and Bitwise are good news for Web3 coins.
Moves from institutions to support web3 coins
Bitwise has announced the launch of a Web 3.0 ETF, as we reported on Kriptokoin.com. The ETF will trade with the code BWEB. It will invest in more than 40 companies, all in the Web 3.0 space. On the other hand, Fidelity is launching the Ethereum Index Fund as a result of the organization’s effort to invest in the Ethereum ecosystem. According to many experts, Web 3.0 coins will likely see a spike as this news hits the market. To tap into the potential of Web 3.0 cryptocurrencies, there are some altcoins to watch right now. These coins were listed by Motiur Rahman.
The Graph (GRT)
The Graph (GRT) is a web 3.0 cryptocurrency in the rapidly growing Ethereum ecosystem. Graph was designed to make it easy to query the Ethereum Blockchain. This is crucial for Web 3.0 to gain traction. Besides its critical role in Web 3.0, it is also optimistic in terms of price. The Graph is trading at record lows after a heavy drop. Therefore, there is a reason for traders to jump on GRT. According to experts, this is a factor that will raise the cryptocurrency in the near future.
Polkadot (DOT)
Polkadot (DOT) is one of the best Web 3.0 cryptocurrencies on the market today. This is because of scalability, which is a critical factor should Web 3.0 replace Web 2.0. Polkadot is a project that got into the market with this feature in mind. Now that the institutional currency is showing interest in Web 3.0, Polkadot stands out among cryptocurrencies that are likely to increase speculator interest. On top of that, Polkadot is currently trading significantly lower than its most recent highs. Therefore, according to Rahman, because of corporate money, there is a renewed interest in Web 3.0; There may be fear of missing out (FOMO) in the market.
Ethereum (ETH)
Ethereum (ETH) is the “king” of smart contracts. It supports the largest Web 3.0 ecosystem in crypto. Ethereum is so important that it is impossible to talk about Web 3.0 without mentioning Ethereum. Although ETH hasn’t shown much activity after the merge, it has the potential to lead the corporate money and web3. The most important factor that will give Ethereum a price increase in the short term is Fidelity’s move to launch an Ethereum fund. This move creates the impression that institutional money believes in Ethereum. According to the expert, the fact that Ethereum is currently trading at record lows will increase the excitement around Ethereum in the short term.
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