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Yes new bearish performance There are 3 main technical indicators that are defensible on Ethereum. So far, data on chain does not find the favorable zone for a break out price over $1900.
Ethereum Price Analysis: The Impact of the US Regulatory Context
The price of Ethereum is still under $1,920 for more than 2 weeks, which is of particular concern, since the last attempt at a rally that lasted only 24 hours took place on May 6. Excluding this brief burst in price, the movements of the Ether (ETH) price staying below $1,920 since April 21, more than 30 days.
The fault certainly lies, in part, with the $8.80 average transaction fee of the Ethereum network. That further reduces the interest of investors in cryptocurrency, although the macroeconomic environment It also plays an important role. In his remarks on May 22, Jamie Dimon, CEO of JPMorgan Chase believes that it is impossible to accurately predict the The outcome of the Federal Reserve’s monetary policydesigned to curb inflation.
You are already seeing a tightening of credit because the easiest way for your bank to preserve capital is not to make the next loan.
The uncertainty of the deadlock US debt ceiling between the Joe Biden administration and the United States Congress it is likely that the sentiment of institutional investors will deteriorate towards cryptocurrencies. CoinShares offers the latest version of “Digital Asset Fund Flow Report” that outflows on digital asset investment products reached $232 million in the last 5 weeks.
The stability of full Ethereum deposits is not enough
Two main indicators influence the ether course and recommend a reduced demand for its decentralized financial ecosystem, in addition to the buying activity with low leverage professional traders.
This is due to the limited processing capabilities of the Ethereum network rising gas costs, which greatly reduces the demand for the use of smart contracts. In the last 5 weeks, the average transaction fees Stayed above $8, although there were no consequences at first.
Ethereum, which has always been the volume leader decentralized exchange (DEX), lost that spot in the week ending May 21. Traders Witness Ethereum Network DEX Market Share Falling to a falling from a high of 75.5% on March 5 to 22.3% 21 May. The misfortune of Ethereum made BNB Smart Chain happy during this time, to be move from 5.6% to 61.1%.
The number of active addresses indicating interactions with DApps (decentralized applications) is also down. In the last 30 days, the most important DApps running on the Ethereum network have experienced a 11% reduction. active addresses, which is probably the result of traders’ dissatisfaction with high transaction costs.
AiDoge: the project in full swing under presale during the Ethereum dump
AiDoge is a promising project that introduces the meme-to-earn concept combining artificial intelligence and coin memes. It is a platform that gives its users the opportunity generate memes by harnessing the power of artificial intelligence. Through this meme generator offering, AiDoge intends to stand out from the useless corner memes out there burst into the crypto market recently.
Currently, the $AI token, upon which the entire Aidoge.com economy is based, is available at price $0.0000328. Another price increase is only expected once the fundraiser has raised $13,230,000. How do you know that the presale has already raised $13,080,000 at the time of writing, there was a better rush of interested buyers, especially ahead of the expected listing at $0.0000336.
AidDoge also plans to a strong community around his project thanks to an innovative platform accessible to the general public. In concrete terms, the AiDoge platform is based on the text instructions of the users to create memes using advanced AI technology. The AI processes a large amount of data to ensure the attractiveness and relevance of the generated memes.
Crypto-assets are a risky investment.
The $AI token: the currency at the heart of Aidoge
To maintain its community, AiDoge plans to reward creators of popular memes on a public feed that set to spread memes. To determine the best creations, users will have to vote. As a result, the most dedicated creators will be able to see the valuation of their work and receive $AI tokens.
In fact, the $Ai token is at the heart of this ecosystem since it is a currency buying the credits needed to generate memes. The latter will not only be useful for rewards, but also for giving voting rights to community members. Finally, you can take your $AI tokens to maximize your returns.
Sources: AiDoge, CoinTelegraph
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This article does not represent investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Investing in cryptocurrency involves risk and can result in significant losses. You should only invest what you can afford to lose and do your own research before making any investment decision.