Ethereum

2024

Base

<p>The Ethereum price plummeted by 8% in the last 24 hours to trade for $3,168 as of 00:11 a.m. EST on trading volume that dipped 15%.</p>
<p>The slump came as outflows from spot&nbsp;<a href="https://insidebitcoins.com/news/5-things-you-need-to-know-about-spot-ethereum-etfs" rel="noopener noreferrer nofollow">ETH ETF</a> (exchange-traded fund) products launched on July 23 hit $113.3 million, led by an $810 million hit for Grayscale’s Ethereum Trust (ETHE).</p>
<p>The outflows recorded by Grayscale’s ETHE overshadowed the net inflows of seven other funds. Leading the pack were the Fidelity Ethereum Fund (FETH) with $75.4 million in inflows and the Bitwise Ethereum ETF (BITW) with $29.6 million.</p>
<p>Ethereum’s price slump also followed the broader digital asset dump, with global market capitalization tumbling nearly 4% to $2.31 trillion.</p>
<p>It also came despite <span style="margin: 0px; padding: 0px;">digital asset management firm Hashdex’s move to&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/2031069/000101376224000785/ea0209567-01.htm" target="_blank" rel="noopener noreferrer nofollow">file</a> for a multi-crypto ETFs featuring</span>&nbsp;Bitcoin (BTC) and Ethereum (ETH). If the US Securities and Exchange Commission (SEC) approves the application, the Hashdex Nasdaq Crypto Index US ETF could see other cryptocurrencies added down the track.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Hashdex files S-1 for combined spot btc &amp; eth ETF… <a href="https://t.co/XurKX448Ab" rel="noopener noreferrer nofollow">https://t.co/XurKX448Ab</a> <a href="https://t.co/je3PRiszPJ" rel="noopener noreferrer nofollow">pic.twitter.com/je3PRiszPJ</a></p>
 <p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1816222035653103823?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a></p>
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<p>In its filing to the SEC, Hashdex wrote, “If any crypto asset other than bitcoin and ether becomes eligible for inclusion in the Index, the Sponsor will transition to a sample replication strategy. Only bitcoin and ether in the same proportions determined by the Index.”</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Update: <a href="https://twitter.com/hashdex?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@hashdex</a> has filed an S-1 for their Crypto Index ETF. Will start with just <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> &amp; <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> but can add other assets if and when approved by the SEC. <a href="https://t.co/W3uHyv9MYn" rel="noopener noreferrer nofollow">https://t.co/W3uHyv9MYn</a> <a href="https://t.co/DFXouwu4IK" rel="noopener noreferrer nofollow">pic.twitter.com/DFXouwu4IK</a></p>
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1816226588499079653?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a></p>
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<p>The offering is intended to track certain digital assets in the Nasdaq Crypto US Settlement Price Index, which is the daily closing value of the Nasdaq Crypto Index. It measures the performance of a significant portion of the digital asset market. Hashdex did not propose to include Ether staking in its combined spot cryptocurrency ETF.</p>
<p>Elsewhere, a <a href="https://www.coingecko.com/research/publications/2024-q2-crypto-report" target="_blank" rel="noopener noreferrer nofollow">report by Coingecko</a> indicates that Ethereum became inflationary in the second quarter, adding 120,000 ETH tokens to its circulating supply. This is after 107,725 <a href="https://www.coingecko.com/en/coins/ethereum" target="_blank" rel="noopener noreferrer nofollow">ETH</a> were burned, while 228,543 were emitted during the period.</p>
<h2 id="ethereum-price-prediction">Ethereum Price Prediction</h2>
<p>The Ethereum price is trading with a bearish bias, which threatens the big-picture bullish outlook after a nearly 30% climb achieved this month. The odds lean in favor of the downside amid waning momentum and selling pressure almost exceeding that of buyers.</p>
<p>The Relative Strength Index (RSI), an indicator that measures momentum, shows that this metric is falling. Its move slipping below the threshold of 50 shows the bears could be having their way. This is accentuated by the pending sell signal on the Moving Average Convergence Divergence (MACD), which suggests sellers have overpowered the buyers.</p>
<p>Increased selling pressure below current levels could see the Ethereum price extend the fall to the $3,070 support or, worse, roll over to $2,796, effectively revisiting the July lows.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/07/ETH.png" rel="noopener noreferrer nofollow"><img decoding="async" class="aligncenter wp-image-556887 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/07/ETH.png" alt="Ethereum price" width="1366" height="768" srcset="https://insidebitcoins.com/wp-content/uploads/2024/07/ETH.png 1366w, https://insidebitcoins.com/wp-content/uploads/2024/07/ETH-300x169.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/ETH-1024x576.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/ETH-768x432.png 768w" sizes="(max-width: 1366px) 100vw, 1366px"></a></p>
<p><a href="https://www.geckoterminal.com/eth/pools/0x88e6a0c2ddd26feeb64f039a2c41296fcb3f5640" target="_blank" rel="noopener noreferrer nofollow">GeckoTerminal: ETH/USD 1-day chart</a></p>
<p>On the other hand, if Ether bulls recover, the Ethereum price could climb. Nevertheless, only a stable close above the $3,587 threshold would render ETH attractive to buy. In a highly bullish case, the gains could see the Proof-of-Stake (PoS) token reclaim the $3,774 level, paving the way for a further upside.</p>
<p>With the Ethereum price risking further losses, traders might consider a new presale that influential YouTuber Jacob Bury says has the potential to 100x after launch.</p>
<p><iframe title="Next 100X Potential BASE Meme Coin - $BaseDawgz Token Review (MASSIVE Potential?!)" width="640" height="360" src="https://www.youtube.com/embed/-wnN2p0d_Mc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<h2 id="promising-alternative-to-ethereum">Promising Alternative To Ethereum</h2>
<p>The project is called&nbsp;<a href="https://insidebitcoins.com/visit/basedawgz" target="_blank" rel="noopener noreferrer nofollow">Base Dawgz (DAWGZ)</a> and while it calls the Base chain home it will operate on five different chains once it launches: Ethereum, Avalanche, BSC, Solana and Base.</p>
<p>Thanks to Portal Bridge and Wormhole technologies, the project will enable quick and easy funds transfers between these chains. This will allow users to move their money to whichever chain they wish.</p>
<p>They will be able to access Ethereum’s decentralized exchanges (DEXes), Solana’s low fees and high speeds, Binance’s own DeFi, and more.</p>
<p>Users can also benefit from staking DAWGZ tokens, with an annual yield of 1,148% on offer.</p>
<p><a href="https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ.png" rel="noopener noreferrer nofollow"><img decoding="async" class="alignnone wp-image-556889 size-full" src="https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ.png" alt="DAWGZ" width="1347" height="555" srcset="https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ.png 1347w, https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ-300x124.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ-1024x422.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/07/DAGZ-768x316.png 768w" sizes="(max-width: 1347px) 100vw, 1347px"></a></p>
<p>So far, about 23.7% of DAWGZ tokens have been staked. As the number of staked tokens increases, the returns diminish, so investors should consider staking tokens while it is still early and with rewards still high.</p>
<p>YouTube channel Cryptonews says DAWGZ “is going to explode“ after launch.</p>
<p><iframe title="BASE DAWGZ IS GOING TO EXPLODE VERY SOON!! GET READY FOR THIS!!" width="640" height="360" src="https://www.youtube.com/embed/IJjMfOxU7eQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>If you would like to join investors who have already pumped over $2.7 million into DAWGZ, you can buy its tokens for $0.006725 using ETH, USDT, USDC, BNB, BUSD, AVAX, or SOL.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🪂 2.6 MILLION 🚀</p>
 <p>Well done big <a href="https://twitter.com/search?q=%24DAWGZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DAWGZ</a>! <a href="https://t.co/DZQ3unZS8K" rel="noopener noreferrer nofollow">pic.twitter.com/DZQ3unZS8K</a></p>
 <p>— Base Dawgz (@BaseDawgz) <a href="https://twitter.com/BaseDawgz/status/1814661685031874703?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 20, 2024</a></p>
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<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The price will increase in a little more than five days, so do not wait too long if you plan to add it to your portfolio.</p>
<p><a href="https://insidebitcoins.com/visit/basedawgz" target="_blank" rel="noopener noreferrer nofollow">Visit the official DAWGZ website here.</a></p>
<h3 id="also-read">Also Read:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/how-to-buy-base-dawgz" rel="noopener noreferrer nofollow">How to Buy Base Dawgz Token – $DAWGZ Presale Review</a></li>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/base-dawgz-price-prediction" rel="noopener noreferrer nofollow">Base Dawgz Price Prediction – DAWGZ Price Potential in 2024</a></li>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/base-chain-meme-coins" rel="noopener noreferrer nofollow">Best Base Chain Meme Coins To Buy – 2024 Guide</a></li>
 <li><a href="https://www.linkedin.com/pulse/upcoming-crypto-presales-unlock-early-investment-calsona-plu5e" rel="noopener noreferrer nofollow">Upcoming Crypto Presales: Unlock Early Investment Opportunities!</a></li>
</ul>

Ethereum Price Plunges 8% As ETH ETF Outflows Hit $113M, Led By Grayscale, And Investors Flock To This Base Meme Coin For 100X Potential

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Inside Bitcoins

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