Bitcoin is currently trading above the $42,000 mark, with sentiment around spot Bitcoin ETFs increasing. This has caused speculation about the outlook for BTC and other top altcoins, such as Monero (XMR) and Zcash (ZEC). Will these privacy coins be able to replicate the bullish sentiment? Could Memeinator (MMTR) outperform the two coins?
Over the past month, XMR and ZEC have seen subdued growth, rising just 3% and 2% respectively. On December 29, a major exchange announced it would delist spot pairs for these privacy coins. However, the anticipation of the SEC approving a spot Bitcoin ETF could provide a bullish boost to the crypto sector, and lift Monero and Zcash prices.
The US securities regulator has held several meetings with applicants for spot Bitcoin ETFs, including BlackRock, ARK 21Shares and Grayscale. If approved, the influx of demand for BTC could drive prices across the sector higher.
Monero is trading at $172, having seen an uptrend since September. To gain momentum, XMR would need to reclaim its year-to-date high of $186. Meanwhile, Zcash is down 22% over the past year, and currently stands at just under $30. It needs to break above $45 to gain momentum and target the $100 area.
Memeinator (MMTR) is a new meme token looking to break into the top meme coin world. It plans to offer its community real utility, such as an innovative game, staking and unique NFTs. It is currently in presale, and with over $2.5 million already raised, investors getting in before the next stage will see the value jump by 65% when the token lists after stage 20. If the broader bull market takes off later in the year, MMTR could rally hard.
