Category Archives: Ethereum
Bitcoin and Ethereum Down 3%, Top Altcoins Fall as Market Sees Red – Decrypt
Bitcoin (BTC) is down 2.8% over the past 24 hours, falling from a high of $28,280 to its recent low of $27,058, and settling on $27,368 at the time of writing, according to data from Coingecko.
The past seven days have seen a clear downtrend for the top cryptocurrency by market cap, with a high of $29,724 on May 5th, losing 6% on the week, and wiping out $45 billion from its market cap. The BTC market cap is currently sitting at $530 billion.
Ethereum, the markets second largest cryptocurrency has also seen negative price action, with its value dropping 3.3% in the last 24 hours, trading at $1,818 at the time of writing.
These drops come amid a wider crypto market selloff, with red candles hitting major and minor altcoins. Larger cryptocurrencies such as Cardano (ADA), Dogecoin (DOGE) and Polygon (MATIC) among others are seeing losses within the 2-5% range.
Litecoin (LTC) and Monero (XMR), however, are among the few that have not seen drops in their prices.
Although the majority of losses are under 5% for major BTC, ETH and major altcoins, the past week has seen larger drops, with several of the aforementioned cryptocurrencies reaching the double digits.
According to Coingecko, the global cryptocurrency market cap today sits at $1.2 trillion, which marks a 2.5% drop over the past 24 hours.
The sudden drop in prices could be due to several reasons. On one hand, after a few days of sky high Bitcoin fees, that saw Binance pause withdrawals, fees have dropped prompting delayed selling from market participants.
Despite a momentary push higher from Bitcoin and Ethereum after Aprils inflation numbers came in lower than expected, the news might have also marked a precipitous sell off from investors.
As for the broader cryptocurrency markets losses, the majority follows Bitcoins lead, mimicking its price action albeit with larger price swings due to their smaller market cap.
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Bitcoin and Ethereum Down 3%, Top Altcoins Fall as Market Sees Red - Decrypt
Ethereum in 2 Charts: Is It Time to Sell? – The Motley Fool
Ethereum (ETH 1.05%), the world's second most valuable cryptocurrency by market cap, is in a unique position. Since the start of the year it is up more than 50%, and yet it is still down more than 60% from its all-time high of almost $4,900.
Because of its hot start in 2023, it can be difficult to gauge whether Ethereum is a buy or a sell today. To get an answer to this question we need to do a little digging to find data from Ethereum's network that provides some historical context on its current position in the market.
One of the most important developments to come out of the cryptocurrency industry recently was The Merge, an upgrade that switched Ethereum from the clunky and energy-consuming proof-of-work method of verifying transactions to the more robust and energy-efficient proof-of-stakemethod.
However, although The Merge dominated headlines, there is a lesser-known upgrade that is likely more meaningful for Ethereum's price than it is given credit for.
Known as the London hard fork, this upgrade was introduced in August 2021 and included a new pricing mechanism with a fixed base fee to be burned, or permanently destroyed. Essentially, the more transactions that occur on the network, the greater the number of ether tokens that could be removed from the supply. Because the fixed base fee is permanently removed from circulation, under some circumstances the total number of ether in circulation can actually decrease.
Because of the London hard fork Ethereum has effectively become a deflationary asset, as the chart above shows. It can be a little difficult to see, but around the end of 2022 the line showing the total supply of ether starts to bend. It was around this time that the number of transactions on the network started to increase, causing the burn mechanism to truly start to become evident.
Thanks to this new feature, Ethereum's price is now highly correlated to the dynamics of supply and demand. Before the London hard fork, Ethereum had a relatively high inflation rate, but now this has all changed and it could mean great things for Ethereum's price, especially if a bull market is on the horizon.
There is another metric we can look at to get a better idea of Ethereum's current valuation versus its potential future price. It's relatively simple, but evaluation of the number of active addresses on the Ethereum blockchain can provide a useful glimpse at activity on the network. Active addresses are the number of unique addresses that have either sent or received a transaction on the blockchain during a certain period, and the thinking goes that the greater the number of active addresses, the more demand for the cryptocurrency.
When taking a look at these addresses, it becomes clear that while there has been a downtrend since the market peak in 2021, there has been substantial growth in recent months. It suggests that more people are using the blockchain for various purposes, such as making payments, creating decentralized applications, and executing smart contracts. As the number of users on the Ethereum network increases, so does the amount of ether burned, thus adding more deflationary pressure.
Due to the newness of the burn mechanism and recent trends in active addresses, it's more than likely that Ethereum's price has yet to realize the full potential of this combination. As such, Ethereum seems to be in a position that could benefit users for years to come.
When considering Ethereum was able to hit an all-time high of almost $4,900 without any burn mechanism and while still operating on the former proof-of-work methodology, it's difficult to imagine what could be in store for its price as it begins to reap the rewards of its new deflationary features.
RJ Fulton has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum. The Motley Fool has a disclosure policy.
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Why Ethereum, Dogecoin, and Shiba Inu Are Falling This Week – The Motley Fool
What happened
Many cryptocurrencies struggled this week due to sectorwide concerns related to the large crypto exchange Binance. Highly anticipated economic data also failed to excite crypto investors.
The world's second-largest cryptocurrency, Ethereum (CRYPTO: ETH), traded roughly 8.7% lower for the week as of 1:56 p.m. ET Thursday, according to data from S&P Global Market Intelligence.
Meanwhile, the prices of the meme tokens Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) had fallen 10.2% and 11.5%, respectively.
Early in the week, the crypto market fell after Binance, the largest crypto exchange in the world, had to pause Bitcoin withdrawals twice over the weekend due to unprecedented congestion on its network. Many blockchain networks have also been facing intense congestion due to renewed interest in meme tokens. That interest has led to soaring transaction fees.
Image source: Getty Images.
One of those meme tokens in particular, Pepe (CRYPTO: PEPE), seems to be the center of attention. The ERC-20 token, meaning it trades on Ethereum's blockchain, has shot up since launching in April, driving transaction fees on Ethereum's network to a one-year high.
Investors also seem to be growing increasingly concerned about a harsher regulatory landscape in the U.S., recognizing that regulators have sharpened their fangs since the FTX debacle last year. At a conference this week, Binance's chief strategy officer, Patrick Hillmann, called the crypto regulatory landscape in the U.S. "very confusing." Hillmann added that Binance is currently seeking to be regulated in the United Kingdom.
Earlier this week, Coinbase CEO Brian Armstrong said the U.S. Securities and Exchange Commission has been on "kind of a lone crusade, if you will, with Gary Gensler, the chair there, and he has taken a more anti-crypto view for some reason." Exchanges like Binance and Coinbase are huge sources of liquidity for the industry, so if regulators really hamper their activity or capabilities, it could be a huge blow for the entire sector.
The other big event -- or lack of one, if you will -- was the release of new data from April that showed the continued slowing of inflation. The crypto market has rallied this year on the belief that the Federal Reserve is set to end its aggressive interest rate hiking campaign and maybe even cut rates later in the year.
This narrative is still in place, but the new data didn't necessarily solidify or bolster this argument, either.
John Williams, president of the Federal Reserve Bank of New York, said earlier this week that the Fed has not definitively declared that it is done raising rates. Williams added that the Fed could need to make additional rate hikes if the data does not show enough evidence of inflation slowing and approaching the Fed's 2% target.
The selling action in crypto seems to be a mix of concerns regarding Binance, ongoing regulatory issues, and inflation data that simply wasn't convincing enough to get crypto moving.
Ultimately, I think macroeconomic factors are going to have the biggest influence on the crypto market this year. Crypto investors will also be keeping an eye on what regulators do, although they have so far been able to shake off a lot of regulatory concerns.
I still think Ethereum will be a good long-term investment because of its unique technological capabilities and enhanced network since the upgrade. I have no interest in Dogecoin or Shiba Inu, although they tend to move with the broader market.
Bram Berkowitz has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, and Ethereum. The Motley Fool has a disclosure policy.
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Why Ethereum, Dogecoin, and Shiba Inu Are Falling This Week - The Motley Fool
Crypto market turmoil: Here’s how much Ethereum could drop – Finbold – Finance in Bold
The cryptocurrency industry has been going through a rough patch in recent weeks in the bearish charge led by its two largest assets by market capitalization Bitcoin (BTC) and Ethereum (ETH) and analysts are looking at how much the latter could further decline if the market continues to pull back.
Indeed, the mid-$1,500s area is the level of interest in the previous range that the cryptocurrency analyst Josh Rager sees for Ethereum if the crypto market continues its bearish trend, according to his tweet and chart observations shared on May 11.
As the expert added, this could well be the potential bottom for the second-largest digital asset by market cap unless the flagship decentralized finance (DeFi) asset leads the prices further down:
Dont think we see ETH getting much lower unless Bitcoin nukes back down to low $20ks.
Meanwhile, Ethereum was at press time changing hands at the price of $1,755.17, down 3.62% on the day and losing 7.45% across the past week, as it records a drop of 6.27% on its monthly chart, as per the latest data retrieved on May 12.
Earlier, Ethereum breached an important demand wall at $1,850 $1,905 but has failed to retain this critical support zone, which, according to crypto market analyst Ali Martinez, means that it could decline to the next significant demand area at $1,570 $1,630.
At the same time, despite the bearish trend, the member community over at the crypto monitoring website CoinMarketCap is bullish on Ethereum, predicting it would trade at the price of $1,834.84 by the end of May, with over 90% historical accuracy, close to the predictions on which Finbold reported on May 11.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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Crypto market turmoil: Here's how much Ethereum could drop - Finbold - Finance in Bold
What Happens To DYDX’s $335 Million Cryptocurrency When It … – Forbes
Decentralized exchange dYdX is about to move from the Ethereum blockchain to Cosmos, and the transition is one-way.
Just a few years after leaving Coinbase, software developer Antonio Juliano had built a competitor doing more daily volume. The exchange, called dYdX DYDX has lost market share since then, but is still doing about $1 billion in volume a day.
Juliano says the platform has outgrown the Ethereum ETH blockchain, and tells Forbes that in six months theyll be ready to launch their own blockchain built with Cosmos, a framework that lets anyone build their own blockchain that interoperates with other blockchains.
Investors should take note: Taking a page from shuttered centralized exchange FTX, and Binance, which have tokens used to reward users, dYdx uses a similar cryptocurrency to reward investors with the hope of keeping them from going to competitors.
Below, watch a lengthy interview with Juliano where he explains that the bridge used to move the assets to the new blockchain is one-way.
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What Happens To DYDX's $335 Million Cryptocurrency When It ... - Forbes
Mysterious Ethereum ($ETH) MEV Bot Makes Over $40 Million … – CryptoGlobe
A mysterious entity on the Ethereum ($ETH) blockchain has caught the attention of the cryptocurrency community over the last few months after it started making millions of dollars and consuming a large percentage of the networks gas fees, while operating a Maximal Extractable Value (MEV) bot.
According to a recently published report by blockchain data analysis firm EigenPhi, the operator of the MEV bot jaredfromsubway has been taking advantage of traders on the Ethereum blockchain since February 27, and has since made a staggering $40.6 million in revenue, and $34.5 million in profit.
Data from Dune Analytics shows that the MEV bot, expended about 3,720 ETH or $950,000 in the past two months, executing roughly 180,000 transactions.
The MEV bot has been wreaking havoc for Ethereum traders and has been held accountable for draining millions from investors. This has raised alarm among traders, who are increasingly concerned about which tokens to avoid.
An MEV bot, its worth noting, is made to take advantage of Maximal Extractable Value, which is seen as the maximum amount of value that can be extracted from every block on the Ethereum network by influencing its content or order. These bots can, for example, take advantage of decentralized exchange arbitrage opportunities, or execute sandwich attacks.
A sandwich attack sees the bot execute two transactions around those of another user to manipulate the price of an asset that the user is trying to trade and make a profit off of the price difference.
Jaredfromsubways bot was detected in more than 60% of all Ethereum blocks in the week starting from April 17, according to EigenPhi. The firm says that the entity sometimes used simple arbitrage strategies, but mostly focused on buying and selling tokens in its sandwich attacks. The analysis reads:
We looked into how this bot has gained a lot of attention lately and outperformed other sandwich and arbitrage bots. One of the key strategies is using many altcoins. The bots account has a much larger number of tokens than the sandwich bot that ranks second.
Per the firm, using a larger number of tokens gives the bot an advantage when it comes to find sandwich attack opportunities as the more tokens a bot uses the more chances it has to execute sandwich transactions. At its peak, the bot was using over 800 types of tokens.
EigenPhi says that the bot didnt earn any significant profits until April 17th, until altcoin trading volumes rose significantly. The bot notably doesnt just perform these attacks, but it also holds onto some cryptocurrencies to bolster its profit.
As CryptoGlobe reported, jaredfromsubway recently surprised the cryptocurrency community by returning around $1.5 million worth of wrapped Bitcoin (WBTC) and wrapped Ethereum (WETH) that an individual unintentionally sent it.
Featured Image viaUnsplash
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Mysterious Ethereum ($ETH) MEV Bot Makes Over $40 Million ... - CryptoGlobe
Account abstraction could bring the next billion users to Ethereum Ambire CEO – Cointelegraph
On Episode 19 of Cointelegraphs Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire. Georgiev explained account abstraction and how wallets can bring more people to the network.
Georgiev believes self-custody is an extremely difficult problem that can be solved with account abstraction. He explained that account abstraction makes crypto wallets programmable, giving them multiple keys and allowing features like two-factor authentication.
The CEO claimed that account abstraction could boost crypto adoption through new tools like embedding wallets on websites. I think account abstraction will onboard the next one billion users on Ethereum, he added.
Beyond what needs to be added to wallets to make them more user-friendly, Georgiev was asked to suggest new features that wallets could provide. Using MetaMask as a case study, he explained that there is very little need to remove any features as they currently exist. However, removing the swapping feature may be something wallets will do since multiple decentralized exchanges provide such services, and there is a growing need to adopt a minimalistic design. To conclude, Georgiev highlights that the most important improvement for wallets is changing the user onboarding process.
Related:Mutual aid, DAOs and activism: The Agenda podcast chats with PactDAO co-founder Marisa Rando
On regulations, Ambires CEO says they are not happy with the current landscape, but he doesnt think wallets will be a major target of regulators in the near future.
Listen to the latest episode of Hashing It Out with Ivo Georgiev on Apple Podcasts, Spotify, Google Podcasts, or TuneIn. You can also explore Cointelegraphs full roster of informative podcasts on the Cointelegraph Podcasts page.
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Account abstraction could bring the next billion users to Ethereum Ambire CEO - Cointelegraph
TMS Network (TMSN) Being Accumulated by Ethereum (ETH) and … – Analytics Insight
Cryptocurrency investors are consistently looking for new ways to diversify their cryptocurrency portfolio with coins and tokens that can become a major force within the blockchain industry and provide them with solid returns.
Recently, TMS Network (TMSN) has gained much attention from whales who began accumulating it, especially after it quickly completed the first stage of its presale. Ethereum (ETH) and Arbitrum (ARB) investors have begun accumulating this cryptocurrency as a result, and today, we will be exploring why this has been the case.
The Ethereum (ETH) project initially made waves throughout the previous month with the launch of its Shanghai upgrade, a hard fork in which network validators gained the opportunity to withdraw their staked cryptocurrencies.
Version 0.8.20 was released of the Solidity programming language, which is the native language used to code smart contracts on top of Ethereum (ETH).
As of May 11, 2023, the Ethereum (ETH) cryptocurrency trades at a value of $1,821.31. In the past 30 days, Ethereum (ETH) decreased value by 5.1%, and the market sentiment is that if it manages to fall under $1,800, it could result in a bearish outlook. As a result, Ethereum (ETH) investors and whales are beginning to diversify with presale-stage projects.
The Arbitrum (ARB) ecosystem has been growing, and the project announced the launch of the Prime Protocol mainnet on top of its network.
Moreover, Arbitrum (ARB) also announced that their DAO accumulated 3,352 ETH and that the Sequencer will be refunded 5,954 ETH, representing the costs for posting data to the Ethereum (ETH) network.
As for the value of the Arbitrum (ARB) cryptocurrency, on May 11, 2023, the altcoin traded at $1.12. In the last two weeks, Arbitrum (ARB) fell by 20%; Analysts believe that if it does not recover, Arbitrum (ARB) could be headed toward a longer-term bearish outlook. Whales of this altcoin also just began buying the TMS Network (TMSN) token, and we will now go over why this has been the case.
TMS Network (TMSN) will be a project that can revolutionize the Web3 space by providing access to the first trading platform, on top of which anyone can get a high level of freedom regarding their decision-making process.
By using the TMS Network (TMSN), anyone globally will be able to trade any derivative, ranging from stocks, equities, forex, and more, with cryptocurrency payments directly.
No account creation is required to use the TMS Network (TMSN), and all users can just link their wallets and begin trading immediately.
Through its implementation of blockchain technology, TMS Network (TMSN) can provide low latency, on-chain analytics, and support for MT4 and MT5 to enable users to connect trading bots and expert advisors.
Throughout the current presale period of the project, TMS Network (TMSN) trades at $0.088. There is also currently a 30% bonus that will end on May 12, 2023.
By buying the TMS Network (TMSN) token, users will receive access to premium services and a commission fee for every trade made on the platform. Analysts predict that the token can climb to $2.20 by the end of December 2023, and any interested investor and trader will not want to miss the opportunity to look at this presale project through the usage of the links below before it explodes in value.
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
Twitter: https://twitter.com/tmsnetworkio
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TMS Network (TMSN) Being Accumulated by Ethereum (ETH) and ... - Analytics Insight
Bitcoin and Ethereum fees skyrocket due to meme coins and BRC-20s – Kitco NEWS
(Kitco News)-The global trend of rising inflation has made its way into the blockchain realm as transaction costs across the two most popular blockchains, Bitcoin and Ethereum, have skyrocketed as of late thanks to the ongoing meme coin mania, which has led to network congestion and increased confirmation times.
The struggles for Bitcoin follow the introduction of BRC-20s, which are essentially non-fungible tokens (NFTs) on the Bitcoin blockchain. BRC-20s were made possible by the introduction of the Ordinals protocol last year, a platform that allows for arbitrary content like text or images to be inscribed on individual Satoshis, the smallest unit of Bitcoin.
As a result of the uptick in activity related to Ordianls and BRC-20s, the Bitcoin network has experienced its highest level of congestion in years, resulting in a backlog of transactions due to the limited block space available. Data from Mempool shows that there are currently more than 351,000 unconfirmed transactions and the memory usage has been maxed out.
Unconfirmed Bitcoin transactions and memory usage. Source: Mempool.space
The main issue with BRC-20s is that, unlike conventional token standards like Ethereums ERC-20 standard, BRC-20 does not utilize smart contracts and operates only with wallets supporting the Bitcoin blockchain.
This means that all BRC-20 transactions must be conducted on-chain, which has quickly filled up the limited amount of space in Bitcoin blocks. According to data provided by CryptoQuant, the daily transactions on the Bitcoin network hit a new record of 682,000 on Tuesday, which is a significant increase from 250K daily transactions at the start of 2023.
The average fee per transaction has skyrocketed to $30.82, the steepest it has been since February 2021, CryptoQuant said.
The issue got so bad on Monday that Binance, the top cryptocurrency exchange in the world, was forced to halt Bitcoin withdrawals twice and institute a higher withdrawal fee before they could once again start processing withdrawal requests.
While some in the community have maligned this new development, with at least one high-level developer calling for a spam filter to be implemented on Taproot transactions to block Ordinals and BRC-20 tokens, Bitcoin miners couldnt be more pleased with the network congestion as it has led to a surge in mining fees.
These high transaction fees have started to make up a large portion of miners' earnings, CryptoQuant said. Currently, daily fees constitute 42.6% of the rewards miners receive for adding new blocks to the blockchain. This is the highest percentage seen since December 2017, indicating that the current state of the Bitcoin network is impacting all its stakeholders, from everyday users to miners.
The Lightning Network, a layer-two scaling solution for Bitcoin, has also benefited from the rise of BRC-20s as more crypto firms have now started to explore integrating the protocol as a way to reduce the cost to transact with Bitcoin.
Meme coin trading causes ETH fees to spike
On the Ethereum network, the rise of meme coins like Pepe (PEPE) and Sponge ($SPONGE) has been the main culprit behind soaring transaction costs as traders have utilized decentralized exchanges like Uniswap (UNI) to trade the tokens on-chain.
Data provided by Etherscan shows that the average transaction cost has increased from a low of 9.07 gwei in October to a high of 155.8 gwei on May 5, and currently averages 103.2 gwei. At the current price of Ether, 100 gwei costs approximately $3.74.
Average Ethereum gas cost. Source: Etherscan
According to Etherscan, over the past hour, there has been an average of 173,000 unconfirmed transactions on the Ethereum network.
As a result of the increase in transactions, validators on the network have earned a total of 1,571.2 ETH in transaction costs. This figure hit a peak on May 6, when validators earned a total of 2,168 for confirming transactions. For comparison sake, the amount earned by validators on April 9, prior to the spike in meme coin activity, was 270 ETH.
This issue is nothing new for Ethereum as its struggles with scalability have been well-documented going back to the launch of Crypto Kitties in 2018. But the fact that the network has undergone several high-profile upgrades over the past year, including the Merge and the Shapella hard fork, has many wondering if the network will ever be able to meaningfully scale or if getting used to high transaction costs during times of peak network congestion is something that will have to be tolerated.
As for now, there are no quick fixes to the high fees on either Bitcoin or Ethereum, and many have just accepted that they are the cost of doing business on decentralized networks amid the worst banking crisis since 2008.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin and Ethereum fees skyrocket due to meme coins and BRC-20s - Kitco NEWS
Ethereum, Dogecoin, Bitcoin Drop: How PAT WARS’ Presale Can … – Analytics Insight
The crypto market has been experiencing significant turbulence recently, with insiders selling off Ethereum (ETH) and Bitcoin (BTC) and transactions slowing down. This has caused the prices of these major cryptocurrencies to plummet, leaving seasoned investors wondering how to safeguard their investments. In this article, we will explore how investing in presale projects during market uncertainties can be beneficial, specifically in the case of PAT WARS (PAWS).
Over the weekend and into Monday, the crypto market experienced a drop in prices, with insiders selling Ethereum and Bitcoin and transactions slowing down. Bitcoin fell due to Binance temporarily closing withdrawals, causing a backlog of transactions, while Ethereum prices fell after the Ethereum Foundation transferred nearly $30 million of tokens to the Kraken exchange.
Other altcoins also experienced losses, with some down by double digits. The rapid recovery of cryptocurrency assets seen in recent months may have contributed to profit-taking. However, the high gas fees on Ethereum and Bitcoin are becoming an issue, making them almost unusable for smaller transactions. The crypto industry has seen improvements, but investors remain concerned about future drops in the market.
Ever since its presale was launched, PAT WARS (PAWS) has been rapidly gaining popularity. This particular meme coin is designed specifically for cat lovers and Star Wars fans, much like other memecoins that target specific audiences such as Dogecoin and Shiba Inu. The PAT WARS clan consists of Jedi warrior cats that serve as the projects mascots. These cute feline creatures are one with the force of crypto, offering sage advice for those who come to them and using their great knowledge to construct their platform.
Despite the intimidating world of crypto, PAT WARS is first and foremost committed to empowering its community by fostering strong bonds through its DAO and NFT collection, the first of which enables members to carry out votes and make decisions regarding the trajectory of PAT WARS, and the second offers exclusive content and opportunities for the community to bond over. The project is also focused on constant innovation and improvement, with its security and speed being enhanced by being built on the Ethereum network.
Crypto analyst LilMoonLambo recently suggested in a tweet that Pepe Coin (PEPE) could replace Dogecoin (DOGE) as a market sentiment indicator. LilMoonLambo proposed that a surge in the price of PEPE would signal a bullish trend in the broader market. Over the past few days, some large-scale investors or crypto whales, including Machi Big Brother, have reportedly been purchasing significant amounts of PEPE, with its price standing at $0.00000193 as of now. However, some analysts have expressed concerns that the current frenzy surrounding meme coins like PEPE could be harmful to Bitcoins performance. Despite this, PEPE still holds a market cap of over $809 million, even after it recently decreased from its all-time high.
As larger and more established coins struggle to keep their status and value, one might turn towards investing in smaller and newer projects. PAT WARS presale can be a buoy in this market turbulence and can be an effective way to diversify ones portfolio and hedge against losses in other crypto assets. Plus, when a project is this new, the price of a token is so low that any loss would be minuscule, while gains can be quite high.
Presale: https://www.patwars.com/how-to-buy
Website: https://www.patwars.com/
Telegram: https://t.me/PATWARSOfficial
Twitter: https://twitter.com/PATWARSOfficial
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Ethereum, Dogecoin, Bitcoin Drop: How PAT WARS' Presale Can ... - Analytics Insight