There’s panic among holders of Ethereum native $ETH token as the $310 billion market cap coin, the second largest cryptocurrency behind Bitcoin ($BTC) posts greater overnight and over-the-fortnight losses than its fearsome rival.
According to the data, at Ethereum’s current price of $2,571, it’s about 4% down overnight and 16.5% down from its price this two Fridays ago.
Over the period under examination, $BTC fell 3% overnight and 9% over the fortnight, which highlights proportionally greater losses for Ethereum’s community since the market-wide crypto crash on Monday August 5.
According to the price chart, $ETH is about 26.5% down from the $3,500 resistance level throughout most of the summer so far.
Over the last six months $ETH holders had strong support around the $2,800 mark, but the recent crash bottomed the token out a fraction below $2,250, as shown along the down-trending green support line.
Like Bitcoin, Ethereum’s fate is closely tied to the industry, political and macro-economic news cycle.
The possibility of rate cuts from The Fed, along with the election of the pro-crypto 2024 US Republican Presidential challenger Donald Trump could help restore global confidence in crypto in the coming months.
This would be a boon to the Ethereum community, which currently houses the largest network for blockchain-based commerce, financial services and gaming.
Nine spot Ethereum ETFs debuted on US markets back at the end of July, offering traditional investors a regulated vehicle to invest in Ethereum with.
Collectively, eight of them have seen inflows, which currently total about $2 billion.
$ETH Panic Turns To PlayDoge Presale FOMO
Crypto fans are broadly united in their conviction that $ETH will recover and continue growing in spite of monetary panic.
Ethereum is one of the founding projects of Web3.
However, future rallies will be slow and steady, advancing as the network continues developing and optimizing a wide range of commercial decentralized apps, or dApps.
That’s why savvy investors are diversifying their portfolios by allocating some funds into exciting new project presales that potentially offer some blistering future returns.
One project with no clear competitors in the burgeoning sector of DeFi gaming is multichain Play-to-Earn (P2E) tamagotchi remake PlayDoge ($PLAY).
The ICO has already amassed $6 million in investments since launching mid-Summer.
The feverish buying comes off the back of recommendations by several YouTube crypto analysts, including Clinix Crypto, 99Bitcoins, ClayBro, and Matthew Perry.
Fans of the 90s handheld digital pets will delight to see how PlayDoge gives incentivizes them with crypto to rekindle their childhood and become attentive virtual pet owners again, with exciting in-game adventures and mini-games.
And those that have bad memories of Tamagotchi the first time around need not fear: the difficulty curve on PlayDoge is a more forgiving, making him a more resilient pet than the high-maintenance Tamagotchis you probably remember.
$PLAY’s home chain is the Binance Smart Chain, now called BNB Chain. This could significantly facilitate a potential future Binance listing.
Moreover, SolidProof audited Playdoge’s smart contract, giving prospective investors peace of mind about the project’s security.
Joining the presale is easy: connect your wallet and start purchasing $PLAY using BNB, ETH, or USDT. PlayDoge also offers the option to use credit cards.
To keep up with the latest information about the project, you can connect with the community via X and Telegram.
Visit the PlayDoge website to buy in at presale prices now.
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