Weak ethereum Network Activity and Spot ETF Outflow; ETH Risk Decline
ethereum has long been acclaimed as a pioneer in the decentralized applications (dApps) arena, primarily due to its introduction of smart contracts. However, despite leading the dApp space, ethereum has seen a 33% decrease in dApp volumes. In a similar vein, the ETFs related to ethereum launched recently have exhibited bearish tendencies.
According to insights from Farside Investors, there has been a net outflow of $30 million from ethereum ETFs since August 9. This has resulted in the ethereum price struggling to establish support above the $2,650 mark. The market cap of ethereum has fluctuated within a narrow range of $270 to $320 billion throughout most of August. The daily chart of ethereum reveals a bear flag formation, with the crypto's relative strength index (RSI) positioning at approximately 37, suggesting that the market might continue to lean towards a downward trajectory. Should the $2,500 support level fail, ethereum could see a further slide to $2,200.
Cardano ADA Falls Out of Top 10 Amidst Calls for Chang Upgrade
Cardano, recognized for its sustainable and scalable blockchain ecosystem, has recently seen a demotion from the top 10 cryptocurrency rankings by market capitalization. The market cap of the coin has dwindled from $16.1 billion to $12.2 billion over the last month. Despite hopes for a rally alongside the broader crypto market since January, Cardano's price has been on a gradual descent, dampened by a downturn in market dynamics and faltering investor confidence. The silver lining for Cardano is tethered to the anticipation surrounding its Chang hardfork.
Optimism is hinged on the Chang upgrade as it is set to usher in the Voltaire era, marking a significant stride towards full decentralization for the network. This strategic move is expected to catalyze a recovery in Cardano's price, potentially propelling it back above the $0.400 threshold.
Intel Markets Excites Traders With New AI-Powered Trading Platform
Intel Markets is poised to redefine the crypto trading landscape through the deployment of AI tools. The platform is built on a dual-chain architecture, leveraging the strengths of both Solana and ethereum blockchains. Its array of advanced automated monitoring and trading tools, coupled with a copy trading feature that allows users to emulate the strategies of over 1,200 successful traders, presents a compelling proposition for traders seeking optimal outcomes.
As a perpetual trading platform, Intel Markets provides access to a diverse range of assets. Currently in the initial stage of its presale, the platform's native coin is valued at an attractive price of $0.009, making it an enticing option for early investors.
Why Experts Think Intel Markets Will Outperform Cardano and ethereum
The challenges facing ethereum and Cardano have prompted traders to consider alternatives, and Intel Markets stands out as a promising option. Its superior features, exemplary customer support, and robust security measures are factors experts believe will contribute to building a strong user base for Intel Markets. There is a growing consensus among experts that the platform is well-positioned to become a dominant force in the trading domain, offering a viable alternative to traditional exchanges. This growth trajectory suggests that Intel Markets’ native token could soar, potentially reaching as high as $0.50 before the year concludes, rendering it a more advantageous investment than both ETH and ADA.
Discover more About Intel Markets:
The inception of Intel Markets on the backdrop of diminishing activities on established platforms like ethereum and Cardano signals a pivotal shift in the crypto trading landscape. With its innovative approach and AI-powered features, Intel Markets is not just presenting itself as an alternative but is envisioned to carve its niche, potentially leading the next bull run and reshaping investment strategies in the crypto domain. Investors and traders are encouraged to conduct thorough research to fully understand the risks and opportunities associated with investing in emerging platforms like Intel Markets.
