Ethereum stalls, Solana rises as Bitcoin Pepe gains steam
Fear remains the key emotion in the cryptocurrency space; an aspect that has been weighing on most majors and meme coins. For instance, coupled with its internal challenges, the risk-off mood has Ethereum price still trading below the short and medium-term MAs. However, steady investor confidence has benefited Bitcoin and Solana.
At the same time, savvy investors are looking for opportunities in new crypto projects. As the first Bitcoin meme ICO, is one of the new entrants that have captured investors’ attention. It seeks to bring the meme culture home to the stable Bitcoin network; assuring meme lovers of a reliable platform, lower fees, and Solana-style transaction speed.
Ethereum price stalls as ETH ETFs, OI show reduced investor confidence
underwhelming performance remains a concern for many crypto enthusiasts. The leading altcoin tends to mirror Bitcoin’s price movements. However, as the leading cryptocurrency strives for recovery, Ethereum price continues to trade below the short and medium-term MAs of 25 and 50 days.
What’s more, a decline in its Open Interest (OI) and spot Ethereum ETFs’ net inflows point to low investor interest. This is especially since high institutional demand has been a major part of Ether’s appeal in the past.
Data released by SoSoValue showed zero net inflows in Thursday’s session. Indeed, the top 9 spot ETH ETFs all recorded zero flows. Since the beginning of April, there has been a string of outflows with only one session of inflows and another of zero flows.
Besides, at the current $18.26 billion, its OI is significantly below its peak of $32.3 billion in late January. As a performance metric, OI tracks an asset’s options and futures contracts to highlight investor participation.
As seen on its daily price chart, Ethereum price will likely remain range-bound between the support zone of $1,515 and the crucial support-turn-resistance zone of $1,750. Even with further rebounding, the altcoin will likely remain below $1,850 in the short term.
Ethereum price
Increased interest in Bitcoin Pepe fuels success in the presale’s first 10 weeks
As the world’s first Bitcoin meme ICO, Bitcoin Pepe has created the much-awaited bridge between the world of meme coins and the stable Bitcoin network. Indeed, it is this one-of-a-kind merge that has fueled the project’s virality even before hitting the public shelves.
In the first 10 weeks of its presale, the project has raised over $6.8 million. Besides, 8 out of the total 30 stages have been sold out; securing 40.5% in gains for the early adopters.
By the end of the presale in Q2, long-term holders will have up to 311.4% in cumulative gains. Furthermore, through its mission of “building Solana on Bitcoin”, the project is expected to deliver more gains after its launch. Hurry up and buy .
has grown to be a leading blockchain, playing a significant role in NFT and DeFi ecosystems. Despite the persistent macroeconomic uncertainties, it is one of the top-performing majors as investors remain confident in its potential.
A look at its daily chart shows the altcoin trading above the 25 and 50-day EMAs as it records steady recovery. In the immediate term, the range between $123.82 and the current resistance zone of $141.88 is worth watching. With the entry of more buyers, the bulls may have an opportunity to break the resistance to the next target at $150.25.
