Reddit IPO Expected to Pump Ethereum Price, Capital Influx Will Push ALGT and Chainlink Up, Says Insider

February 29, 2024

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Reddit is a social media platform that is known for its vast network of communities based on people’s interests, hobbies, and passions. Since many web2 projects are entering the web3 space, Reddit has also kept pace with this trend and has planned to launch its IPO (initial public offering) this year.

Reddit revealed a few details in its filing. Reddit has added Bitcoin and Ethereum to its balance sheet recently, and they have said that they will continue to do so in the future. Analysts are predicting a price pump in Ethereum due to the Reddit IPO. The Reddit IPO has attracted the attention of the Reddit communities as well as individual investors.

Ethereum recently showed a major price pump and crossed $3000, reaching a major milestone. Ethereum is currently stable above $3200. Analysts predict that it might cross $5000. There is a capital influx also expected by the analysts, resulting in many altcoins moving upwards.

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Algotech (ALGT) is a newly launched project with a massive pre-sale, becoming an eye-catcher for investors due to its amazing potential, features, and exemplary roadmap. On the other hand, Chainlink (LINK) has been in the crypto market for a long time, observing major gains.

Let’s explore the potential of both projects and evaluate how they might hold up after Reddit’s IPO.

Chainlink (LINK)

Chainlink is a decentralized Oracle network offering essential data streams to smart contracts across different blockchains. Its objective is to enhance the utility of smart contracts by allowing them to access dynamic data inputs from external sources.

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Chainlink (LINK) is currently stable at $19 and is ranked 12 out of 100 altcoins by CoinMarketCap. Analysts are of the view that Chainlink (LINK) will observe upward price trajectories if there are capital influxes as predicted.

The market is currently bullish, with Bitcoin crossing $60,000, and the crypto market is expecting major inflows, which might result in pumping many altcoins. Bitcoin ETF has already attracted major net inflows into the crypto market. The current price of Chainlink (LINK) is $19.03 (According to CoinMarketCap), and it is predicted that it might reach $25 soon due to capital influx.

Algotech (ALGT) Stuns Market After $1.5 Million Presale

After an extremely successful private seed round, where the project raised over $1.1 million in two days, Algotech (ALGT) is now the market favorite for growth in 2024. The project launched in January 2024 and quickly attracted attention in the DeFi market due to its unique features. The project has currently sold out its presale Stage 1 and is rapidly gaining ground.

The focus on Algotech (ALGT) is not just due to its successful fundraising but also because it promises substantial returns, drawing comparisons to other pre-sales in the market. This growing interest is backed by Algotech’s innovative platform and strategic roadmap, appealing to investors aiming for high returns.

It’s still in the first stage of its pre-sale, priced at $0.04. Experts are predicting that due to the capital influx caused by Reddit, the launching price of this project can give a 300% return to early investors. The majority of the investors are looking at Algotech (ALGT) for potential gains rather than Chainlink (LINK) because ALGT has the advantage of being an under $1 project.

You can find more details about this project:

Visit Algotech Presale

Join The Algotech Community