Ethereum News: Does the ETH token still have a chance of growth in the current cycle? – Coincierge.de

Many crypto experts expected that the Ethereum price Strong gains are being made after Ethereum spot ETFs were approved for the US stock market in July 2024 – similar to the development that Bitcoin has already undergone starting in January 2024. Just a few weeks after the launch of the Bitcoin ETF, the BTC token was able to reach a new all-time high.

On the contrary, Ethereum has actually had a fairly low price in recent weeks and is currently considered one of the underperformers of recent months. Many ETH investors are not giving up and are hoping that a trend reversal will occur soon. We reveal how realistic that is.

Ethereum investors disappointed: ETH token is simply not on trend

The crypto world and many of the projects within it live and die with the hype that surrounds the respective cryptocurrency. Meme coins like Dogecoin or PEPE are particularly dependent on their community, but even Ethereum, as the second largest cryptocurrency in the world, has to pay attention to what exactly investors want.

Vitalik Buterin – co-founder of ether and one of the best-known voices in the crypto sphere. Because via the social media platform

I’ve been told I need to “do less philosophizing and more Ethereum bullposting,” so here’s an Ethereum bullpost, courtesy of Stable Diffusion 3 Inpainting + Gimp. pic.twitter.com/ZcPjNVImpn

— vitalik.eth (@VitalikButerin) 21 August 2024

Buterin reacted in typical fashion with a humorous tweet that included “Ethereum is good,” but the community is actually addressing an important point: the ETH token is simply not trending at the moment. On the one hand, this is of course due to the generally pessimistic mood on the global financial market, but on the other hand it is also directly due to Ethereum itself.

Many investors seem to be gradually losing confidence in the second largest cryptocurrency. Most recently, for example, a transfer from the Ethereum Foundation amounting to 100 million US dollars was sold: at the end of August, the company transferred many ETH tokens to settle outstanding bills and standards. This also causes many investors to be extremely worried and at least parts of their own reserves are being liquidated.

Can Ethereum buy again?

Perhaps the biggest problem Ethereum currently has in the crypto market is that it does not specialize in it, but instead tries to combine all the important crypto technologies: Anyone who wants to invest in NFTs always relies on Bitcoin and Solana. Even when it comes to meme coins, blockchains such as Solana or Base offer much better speeds at cheaper conditions. The biggest advantage that Ethereum still holds is its current second-largest market capitalization at over $285 million, as well as a kind of “first-mover advantage.”

But although Ethereum has recorded 45 percent price gains in the past year, the ETH token is far behind the competition. The project continues to offer great potential for growth and a very bullish Ethereum Forecast – Especially considering that the ETH token is often referred to as the cryptocurrency that Bitcoin should have been. This refers to the many technical advances compared to the Bitcoin blockchain. But also the fact that many Layer 2 projects and decentralized applications (dApps) run on the ETH network.

Whether Ethereum can buy again in the current cycle depends largely on whether Bitcoin and the entire crypto market can experience a further upswing, because then the ETH token should also follow suit. On the other hand, the long-term trend shows that the crypto sphere is continuing to grow and more and more users are switching to Web3 technologies. If Ethereum does not let itself be left behind by the competition from a technical point of view, the strongest altcoin should continue to hold its place and even be able to extend its lead in the long term.

Last updated on September 6, 2024

Pepe Unchained – Meme Coin with its own blockchain

• Unique ecosystem: success and growth right from the start – don’t miss out!
• Massive Passive Income: Dynamic Staking Rewards with $PEPU
• Low transaction costs: Ethereum Layer-2 Chain with Pepe meme

Crypto All-Stars – Revolutionary MemeVault for Multi-Token Staking

• Revolutionary MemeVault: Earn $STARS by staking meme coins in a unique protocol.
• Global multi-token staking
• Huge reward potential
• A heavily audited ERC-1155 based staking system.

Base Dawgz – Base Meme Coin with Multi Chain Buying Options

• Multi-Chain Buying Options: Buy $DAWGZ seamlessly across multiple blockchain networks
• Combines the popularity of Base with the appeal of Dog Meme Coins that dominate the crypto market
• Points earned from sharing Base Dawgz content can be redeemed for $DAWGZ tokens after the pre-sale closes

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.