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Ethereum

Ethereum Falls Below $1, Pushing Holders To Bitgert (BRISE) -This Why

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Ethereum Falls Below $1, Pushing Holders To Bitgert (BRISE) -This Why

Key Highlights:

  • Ethereum fell below $1k this week
  • Bitgert price remains stable while Ethereum tumbles
  • Ethereum holders attracted by Bitgert developments

The crypto market’s downward trend might not end soon as projected. The bears are still in control of the market so far this month, with most cryptocurrencies feeling the heat. Ethereum, the second-largest crypto project in the market, has been one of the most hit. The price of the Ethereum coin has dropped below $1,000 to trade at $958 at the time of this writing.

This Ethereum is a price that was last seen in the first week of January 2021. This means the lowest Ethereum price in almost 18 months. That’s how bad the Ethereum coin has been performing in the market. But crypto analysts believe that Ethereum might even go lower this month if the bears will still be in control.

The falling Ethereum price has seen the number of Ethereum holders selling to join other relatively new crypto projects rise rapidly. Bitgert (BRISE) is among the crypto projects that have benefited immensely from the plummeting Ethereum. There are many Ethereum holders buying Bitgert today.

The stability that the Bitgert coin has shown in the market is one of the reasons Ethereum holders are joining Bitgert. In this bear market, Bitgert is keeping a stable price with very minimal drops when the likes of Ethereum plummeted. So Bitgert coin has been gaining while Ethereum is losing fast. So there are a lot of Ethereum holders who want to put their coins in a crypto project that has proven stability, like Bitgert.

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But the Bitgert stability has been achieved by the massive potential that the Bitgert project is promising. That’s why the Bitgert holders have been HODLing their coins despite the massive selling pressure. There is also an increasing number of new holders joining the Bitgert coin, including Ethereum holders.

The upcoming Bitgert developments are some of the reasons why Ethereum holders are attracted to Bitgert. With Bitgert being less than a year old, the project has so much coming up, which is attracting crypto Ethereum investors.

Among the major Bitgert developments coming up is the Bitgert roadmap V2 products and the hundreds of Bitgert backed projects. Bitgert ecosystem is definitely going to be the fastest-growing blockchain ecosystem this year. These are reasons why thousands of crypto investors are joining Bitgert and not just the Ethereum holders.

So Bitgert remains one of the highly potent crypto projects to watch in 2022!

The post Ethereum Falls Below $1, Pushing Holders To Bitgert (BRISE) -This Why appeared first on .

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Altcoins

Ethereum investors should know this reasoning behind ETH’s crash in June

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Ethereum investors should know this reasoning behind ETH’s crash in June

It has been hard for ETH traders to avoid panicking in the last few months as ETH continued to sell with no end in sight. The bears have been easing off their assault every once in a while, paving the way for minor relief rallies. However, even those have been short-lived and the bears continue to show their strength.

A similar scenario is taking place right now following ETH’s latest crash. The market has experienced a few days of relative calmness and some upside. Investors might, thus, expect ETH to experience another sell-off sometime soon if the market continues on the same trajectory. Understanding the key sources of the selling pressure is essential in order to gauge where the market might be headed.

It turns out exchange-traded funds (ETFs) holding large amounts of ETH have been selling off their holdings. 3iQ CoinShares Ether ETF (ETHQ.U) and Ether Fund (QETH.U) holdings are among the top ETFs that invested heavily in ETH in the past. Their Glassnode metrics reveal that they offloaded a significant amount of ETH in June.

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Source: Glassnode

The 3IQ Coinshares ETF offloaded roughly 82,886 Bitcoin between 1 June and 20 June. The Ether Fund ETF sold off roughly 87,385 ETH between 31 May and 20 June. Although these ETFs sold off large amounts of ETH, each of them holds more ETH than the amount they sold.

Catching the next wave

It is easily assumed that this means they will likely continue selling in the next few months given the amount they have left. However, the lower prices have been attracting heavy accumulation and strong growth in the number of users. ETH addresses holding more than 100 ETH have steadily increased in the last 12 months.

Source: Glassnode

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There were just over 42,000 addresses holding 100 ETH and above at the start of July 2021. That number grew to 44,343 addresses by 23 July. ETH had just over 121.5 million addresses by the start of July last year. However, those addresses had increased to 155.1 million by 23 June.

The increase in ETH addresses and balance in addresses especially since mid-June confirms the strong accumulation near the $1,000 price level. ETH’s 30-day MVRV ratio confirms that some address balances that accumulated near the latest lows are already in profit.

Source: Santiment

The MVRV ratio aligns with ETH’s latest recovery. It suggests that there is a strong buy wall near the $1,000 price level. However, the market is still full of uncertainty and the ETFs still have a lot of firepowers if they decide to sell some more.

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Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael’s writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis. His interests include motorcycles and exotic cars.

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Analysis

Bitcoin, Ethereum Technical Analysis: ETH On The Cusp Of $1,200 Following Breakout Of Key Resistance Level

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Bitcoin, Ethereum Technical Analysis: ETH On The Cusp Of $1,200 Following Breakout Of Key Resistance Level

Bitcoin edged marginally higher on the last Friday of the month, breaking out of its recent resistance of $21,100 in the process. ETH was also in the green during today’s session, climbing by nearly 5% to move past a price ceiling of its own.

Bitcoin

Following a turbulent week of trading, BTC was once again higher on Friday, as prices moved above $21,000 heading into the weekend.

Less than a day after trading at a low of $20,233.56, BTC/USD rallied to an intraday peak of $21,266.39

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Friday’s flurry of trading saw prices move past a key resistance point of $21,100, and this comes as bulls continue to buy the recent bitcoin dip.

BTC/USD – Daily Chart

After overcoming today’s hurdle, it is likely that traders will target this week’s high of $21,700 over the course of the weekend.

Looking at the chart, should this level be achieved, we will likely see many bulls choose to secure gains and exit positions, due to an upcoming ceiling on the 14-day RSI.

This hurdle is the 36.70 point on the Relative Strength Index, which is currently tracking at 35, and is firmly in oversold territory.

Ethereum

Ethereum was fast approaching $1,200 on Friday, as bullish momentum took prices above a key level of resistance.

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After almost falling below $1,000 during Thursday’s session, ETH/USD surged to an intraday high of $1,191.27 as of writing.

This peak saw the world’s second largest crypto token trade nearly 8% higher than yesterday’s floor, breaking the $1,190 ceiling in the process.

ETH/USD – Daily Chart

As discussed yesterday, this level was one of the only hurdles in place preventing prices from re-entering the $1,200 region.

Today’s mounting pressure from ETH bulls comes after the 35.60 ceiling of the 14-day RSI was broken on Thursday.

With a breakout likely later in today’s session, the only question is where bulls will choose to exercise an exit.

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How high do you expect ETH to climb this weekend? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum

Ethereum Holders Buying More $BRISE After USDT/USDC Bridge Launch. Why?

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Ethereum Holders Buying More $BRISE After USDT/USDC Bridge Launch. Why?

Key Points:

  • Bitgert stable crypto bridge going live is attracting a lot of investors
  • Ethereum holders are now buying more Bitgert
  • Bitgert has got more developments coming up

The Bitgert (BRISE) has just launched the widely anticipated USDT & USDC bridge. This means Bitgert blockchain users can now trade USDT and USDC on the chain. This is a big move for the Bitgert projects, and the attention it has created in the market says a lot about it.

Already, the launch of the Bitgert stable coins has attracted the attention of Ethereum investors. There are more Ethereum investors buying Bitgert after this launch. So what is so unique about launching USDT and USDC on the Bitgert chain that attracts Ethereum holders? The huge utility they add to the Bitgert chain is one of the reasons more Ethereum holders are buying.

The USDT/USDC bridge has been in the making for some time, and the crypto community was eagerly waiting for its launch. This is mainly because of the powerful Bitgert BRC20 blockchain on which the USDT/USDC bridge is launched. The zero gas fee and the fastest transaction speed are just some of the things making Bitgert stand out.

This means transacting $USDT, and $USDC tokens on the Bitgert chain will be almost zero. In fact, the cost of a transaction on the Bitgert chain is just $0.00000001 for gas. That’s how cheap it will be to make any transaction of these stable coins on the Bitgert chain. It is a major thing Ethereum holders love about the Bitgert USDT.

The other reason Ethereum holders are excited about the USDT and USDC is the fast transactions. Ethereum users swapping their USDT and USDC to the Bitgert chain will enjoy a faster speed the Bitgert chain is offering. Therefore, USDT and USDC bridge is giving Ethereum users a better experience on the Bitgert chain.

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In addition to the Bitgert USDT and USDC bridge that has gone live, Ethereum holders are buying more $BRISE because of the many developments that are coming up. The Bitgert team is still working on delivering roadmap V2 products. The hundreds of Bitgert Startup Studio projects are also attracting Ethereum holders.

Though Ethereum ‘merge’ is coming this August, it appears like Bitgert promises better returns to Ethereum holders. That’s why the number of Ethereum investors buying Bitgert is growing bigger. With the $USDT and $USDC on the Bitgert chain now, more Ethereum holders will be joining Bitgert.

The post Ethereum Holders Buying More $BRISE After USDT/USDC Bridge Launch. Why? appeared first on .

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