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Bitcoin is moving slowly to the upside today after U.S. lawmakers “urged” Gary Gensler – Chair of Securities & Exchange Commission to approve the pending applications for a Spot Bitcoin ETF.

In a letter to Chair Gensler a day earlier, Reps. Flood, Nickel, Emmer, and Torres argued that a Spot Bitcoin ETF at its core is similar to the Crypto Futures ETF that has already secured regulatory approval.

Particularly after losing to Grayscale last month, details of which Invezz covered here, the SEC does not have a reason to fight a Spot Bitcoin ETF, they added.

In fact, a regulated exchange-traded fund is in the best interest of protecting the crypto investors, as per the House Representatives.

Following this development, it’s conceivable that a Spot Bitcoin ETF which is expected to boost institutional interest and translate to price appreciation will soon debut in the United States.

But it’s unlikely to be a Bitcoin-specific rally only, considering the broader crypto space tends to move in the same direction as its de factor leader. So, the up-and-coming token like Memeinator may just benefit from it as well.

Memeinator is a recently launched platform that sits right at the heart of two of the fastest growing market – blockchain and artificial intelligence.

In a White Paper on its website, Memeinator says its goal is to dominate the meme coins market – one that’s made a lot of people rich over the past two to three years but have also hurt many as it’s filled with scams and frauds.

And that’s something Memeinator aims at fixing once and for all. It capitalises on artificial intelligence to look for the weaker meme coins on the internet and destroys them in its journey to complete dominance.

Memeinator went on pre-sale only this week and is currently priced at $0.011.

What the Memeinator or MMTR has set out to accomplish seems to be resonating well with the crypto enthusiasts. That’s considering it has raised close to $335K in its pre-sale already.

Simply put, the demand for this new member of the meme coin market appears to be strong – and that may translate to a continued price increase.

Note that meme coin was a market worth nothing in the early weeks of the pandemic but had already turned into a $20 billion market in 2022. If that explosive growth continues moving forward, the MMTR will likely benefit greatly particularly since it’s a purpose-specific token.

It is also worth mentioning here that Memeinator is expected to end its pre-sale with a whopping 132% increase.

For more details on Memeinator or the MMTR coin, visit the project website here.

Memeinator may just be a better investment than its meme peers particularly because it’s related to artificial intelligence that’s been all the hype in the financial markets ever since Microsoft made the multi-billion-dollar investment in OpenAI – the company behind ChatGPT.

According to Statista, the AI market will likely be worth close to $2.0 trillion by 2030 versus about $200 billion at writing. The artificial intelligence space has already more than doubled over the past two years.

What’s also important to remember is that the MMTR is a crypto in essence. So, the tailwinds that are going to benefit the crypto market can be expected to benefit Memeinator as well.

For example, the U.S. Federal Reserve earlier this month signalled the possibility of two rate cuts next year. What that means essentially is that the central bank is close to being done with raising rates and returning to slowly turn lenient in terms of its monetary policy.

That pivot typically tends to invoke interest in the more risk-on bets like cryptocurrencies. So, it’s conceivable that the digital assets ecosystem will find strength in 2024 which may also trickle down to Memeinator as well.

If you want to know more about the MMTR pre-sale and how to invest in it, Click Here to visit the website.

The post Is Memeinator (MMTR) more attractive now that U.S. lawmakers are pushing for Bitcoin ETF? appeared first on Invezz.

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