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Bitcoin has been rather choppy in recent weeks due to the macroeconomic headwinds, now trading at around the $57,000 level.

John Wu – the president of Ava Labs also attributes recent weakness to the possibility that the U.S. government will sell more than $2.0 billion worth of BTC it seized from Silk Road last month.

Still, Bitcoin will likely recover sharply and remains slated to surpass the $100,000 valuation over the medium term, he told CNBC in a recent interview.    

The expected rally in BTC makes Poodlana (POODL) a worthwhile investment for 2024 as, being crypto, it tends to move in tandem with the space leader (Bitcoin).

Earlier this week, Morgan Stanley said it will begin offering Bitcoin ETFs to its wealthiest clients.

That’s a huge positive for the asset class perhaps including Poodlana considering the BTC exchange-traded funds will now be available to the higher net worth RIA channel on top of retail and institutional investors, John Wu added.

POODL is currently priced at $0.0458 only in the ongoing presale, which indicates potential for explosive growth on the back of continued strength in Bitcoin.

At pennies only, it’s much more attractive as an investment, even more so than Bitcoin itself considering BTC requires a huge capital – one that’s not available to an average investor.

Poodlana will end its presale and list on a crypto exchange on August 16th. Details of the steps that you need to follow to invest in its presale are available on the website at this link.

Ava Labs’ Wu also cited Coinbase’s recent quarterly report for his bullish view on Bitcoin which many believe could translate to a higher price for the Poodlana token as well.

Users are staying on the platform (Coinbase) and are getting much more engaged, he added, which is conceivably a positive for the entire crypto class, including POODL.

Poodlana has raised more than $5.4 million in less than a month which signals solid demand for the “Hermes of crypto”. The fashionable meme coin may also be a means to play the fashion industry that’s expected to grow at a compound annualized rate of close to 9.0% through 2029.

Click here if you’d like to know more about Poodlana and what makes it an exciting investment for 2024.

Lastly, another Bitcoin tailwind that may, by extension, serve as a positive for the Poodlana coin is a continued increase in real-world developers trying to build applications on the blockchain, as per President John Wu of Ava Labs.

Gaining exposure to POODL in the early stages may be recommended also because the project has plans to introduce a rather lucrative staking platform in the coming months.

Together with the upcoming listing, Poodlana looks well-positioned to continue to attract strong demand that typically translates to a higher price tag for crypto coins.

All in all, POODL is a meme coin that’s attractive to own as it’s currently in its early innings only versus a bunch of its peers that have already had their moment in the sun. To find out more about Poodlana, visit its website now.

The post Poodlana in focus as Ava Labs president reiterates bullish view on BTC appeared first on Invezz

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