Transfers in Ethereum suggest the price could drop to 3 thousand dollars, while 3 other coins with 10x potential as an alternative to ETH have attracted attention.
The leading altcoin Ethereum is experiencing quite turbulent days. Following a recent price update, it was observed that a significant amount of ETH was sold by numerous investors, while data from the on-chain data platform Spotonchain revealed that 32.5 thousand ETH was deposited into CEXs within 24 hours.
The price movement of ETH following the update also brought about speculations about the altcoin’s performance. The bearish sentiment led to a significant loss in value for ETH, despite reaching beyond the $4000 level in recent times.
The deposit of $109 million worth of ETH into CEXs within 24 hours has sparked predictions about Ethereum dropping to 3 thousand dollars. This cautious action is indicative of the expectation of a more significant price correction before considering the possibility of whales buying back in.
According to CoinMarketCap data, the price of Ethereum has dropped by around 7% in the last week. As of the time of writing, the leading altcoin is trading at $3396, leaving people curious about whether or not it will drop to 3 thousand dollars.
Meanwhile, optimism about the approval of spot ETF applications has been waning in recent weeks. Given the US Securities and Exchange Commission’s repeated rejection of spot Bitcoin ETF applications, the fate of ETH ETF applications remains uncertain.
The latest analysis suggests that the SEC plans to reject all spot Ethereum ETF applications with a deadline of May 2024. People are eagerly anticipating how the price of ETH will be affected if these applications are rejected.
As Ethereum continues to experience a chaotic period, investors are turning to alternative ETH projects. Cryptocurrency enthusiasts looking for short-term gains are showing interest in Dogecoin20, known as a Dogecoin upgrade, Smog, a dragon-themed meme coin, and Bitcoin Minetrix, a BTC mining solution.
Dogecoin20 Token Exceeds $8 Million
The new meme coin project DOGE20, which is one of the most popular presale events in recent days and allowing early-stage investors to purchase Dogecoin20 tokens at discounted prices, is breaking records.
The presale of DOGE20, where the funds exceeded $8 million, is progressing faster than expected. Positioned as an upgrade to the popular meme coin Dogecoin, DOGE20 is being made available to early-stage investors prior to listing on exchanges.
Currently traded at 0.000208 dollars, DOGE20 token is drawing attention not only for being an environmentally friendly meme coin but also for its staking features. With the project having already staked over 22 billion tokens, it is among projects with 10x potential.
Investors can invest in DOGE20 token using ETH, USDT, BNB, and card transactions.
Largest Solana Airdrop Event Coming with SMOG
The dragon-themed meme coin SMOG token, built on the Solana network, is planning to execute the largest airdrop event ever. Listed on Jupiter DEX on February 7 and rapidly increasing in value within a few hours, SMOG is attracting attention with its exchange performance and airdrop event.
According to CoinMarketCap data, SMOG, which has increased by around 212% in the past month, is priced at 0.1769 dollars at the time of writing. SMOG token also offers investors the opportunity to earn passive income through staking. Those staking with SMOG tokens have the chance to be part of the largest Solana airdrop event.
Investors willing to invest in SMOG tokens are offered a discount by the project team. Those purchasing from the project page are paying 10% less. Investors looking to buy SMOG tokens can do so using ETH, USDT, or card transactions.
Bitcoin Minetrix Surpasses $12 Million
The funds raised in the Bitcoin Minetrix project, which offers the opportunity to mine BTC without requiring technical knowledge, hardware, software, or energy solution, have exceeded $12 million. Investors willing to buy Bitcoin Minetrix tokens at discounted prices have shown significant interest in the ongoing presale event.
The project is gaining more attention following Bitcoin’s return to ATH after many years. Cryptocurrency enthusiasts without enough budget to buy Bitcoin are turning to BTCMTX tokens, which offer a mining solution.
The Bitcoin Minetrix platform uses the Stake & Mine mechanism. Purchased BTCMTX tokens are staked in exchange for cloud mining credits. These credits are burned throughout the mining period, and the resulting BTC is transferred to the participant’s wallet.
Offering the opportunity to earn passive income through staking, the effortless and cost-free BTC mining solution Bitcoin Minetrix awaits Bitcoin enthusiasts. At the current stage, investors can buy 1 BTCMTX token for 0.0142 dollars.
Cryptocurrency enthusiasts willing to participate in the presale event and become early-stage investors and earn potential gains before listing on exchanges can invest in Bitcoin Minetrix tokens using ETH, USDT, BNB, MATIC, or card transactions.
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