2023-7-5 16:00 |
Bitcoin ($BTC) and Ethereum ($ETH) are experiencing a notable dip, with both cryptos seemingly taking a breather after a period of sustained optimism.
$BTC is now hovering around $30,600, while $ETH is trading at $1,915, meaning both are below crucial resistance zones.
Amidst this backdrop, several lesser-known tokens are capturing traders’ attention – with Wall Street Memes ($WSM) and yPredict ($YPRED) being the two standouts.
Bitcoin & Ethereum Consolidate As Market Optimism Remains HighBitcoin and Ethereum are taking a breather, entering a consolidation phase as they encounter crucial resistance levels.
At the time of writing, Bitcoin is just below the vital $31,000 level, which was briefly tapped on Tuesday.
$BTC hasn’t closed above $31,000 since June 2022, highlighting the strong selling pressure around this zone.
Meanwhile, Ethereum is still struggling to breach $2,000, given that it represents a crucial psychological barrier for bulls.
In early May, $ETH could not surpass the $2,000 area and was rejected, suggesting that a high volume of sell orders are still present in that region.
Fortunately for crypto bulls, market optimism remains elevated – the Crypto Fear & Greed Index is now sitting at 61, higher than in May and June.
Moreover, Bybit’s volatility tracker shows that only a small percentage of tokens have dropped 9% or more in the past seven days, indicating relative stability in the wider crypto market.
Increased Investment Inflows Fuel $BTC & $ETH PositivityThe positive sentiment and increasing investment inflows in digital asset products are likely to have an impact on the prices of $BTC and $ETH.
According to CoinShares analyst James Butterfill, inflows totaled $125 million in the past week, with $334 million arriving in the last two weeks.
Interestingly, Bitcoin remains investors’ main focus, receiving a whopping $123 million worth of inflows in the previous seven days.
This trend indicates growing confidence and bullishness among investors, suggesting that they view the recent price increases as an opportunity to invest.
Naturally, this sentiment change could further support both Bitcoin and Ethereum since increased capital entering the market may contribute to more upwards pressure.
As such, many market participants believe the current price stalls are only temporary – and that $BTC and $ETH are set for renewed momentum soon.
Which Tokens Could Outpace Bitcoin & Ethereum?As Bitcoin and Ethereum navigate rough waters, tokens like Wall Street Memes and yPredict are sailing under the radar.
These innovative projects are harnessing the power of community to present interesting alternatives to traditional crypto investments – which could offer a pathway to higher returns.
Wall Street Memes Token Raises $12.6m – Could it be the Next Big Meme Coin?Wall Street Memes ($WSM) is a crypto project born from a passionate online community based on internet memes and finance.
Launched in May 2023, the project’s presale has grown tremendously, surpassing $12.6 million in early funding – a testament to its broad support.
The $WSM token was created to galvanize this community, comprising over 1.1 million people spread across social media channels like Instagram and Twitter.
Not only that, but $WSM will allow holders to monetize their passion for memes – a setup that has helped draw the attention of prominent personalities in the crypto sphere.
Michael Wrubel, who has over 310,000 subscribers on YouTube, uploaded a video analysis of Wall Street Memes, highlighting how bullish he is on the token’s prospects.
This sentiment was backed up by CryptoWendy0, who speculated that $WSM could be one of the frontrunners of the next crypto bull run.
These statements have laid a solid foundation for listings on Tier-1 exchanges, slated to occur once the presale ends.
This presale is now entering its final stages, meaning would-be investors only have a narrow window to buy $WSM before its market debut.
With its unique blend of memes and finance culture, $WSM undoubtedly offers an enticing investment option beyond traditional cryptos like $BTC and $ETH.
Visit Wall Street Memes Presale
yPredict Leverages the Power of AI to Offer Cutting-Edge Crypto AnalyticsyPredict ($YPRED) is an innovative blockchain-based project that takes a unique approach to cryptocurrency analysis.
Utilizing advanced artificial intelligence (AI) technology, it delivers data-driven insights to aid users in making informed trading decisions, catering to newbies and market veterans.
However, what really sets yPredict apart from its peers is its cutting-edge prediction marketplace.
Per yPredict’s whitepaper, this marketplace offers a space where AI experts can present their predictive models for subscription, providing retail traders with a unique opportunity to access these tools.
Subscription fees are paid in $YPRED, which is mainly used to facilitate transactions on the yPredict platform.
Currently, yPredict is holding a presale where $YPRED tokens are available at a discounted price of $0.09.
With the subsequent presale stage seeing the token price increase to $0.10, many believe now is a prime opportunity for investors to get in on the ground floor of this innovative project.
Visit yPredict Presale
The post Crypto Market Growth Stalls As Bitcoin & Ethereum Prices Drop, But Traders Are Bullish On These Tokens appeared first on BeInCrypto.
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