The recent market cooldown has stirred a lot of discussions among investors, particularly concerning Ethereum. After experiencing a dip that brought its price down to $3,390, market bulls stepped in, pushing the asset back to around $3,570. This volatility has sparked renewed interest in both Ethereum and its broader ecosystem, with many analysts interpreting the sustained influx of investor capital as a promising sign for market stability.
Adding to this excitement is a new player in the cryptocurrency space: Remittix (RTX). As an Ethereum-based utility token designed for low-cost cross-border settlements, Remittix has quickly grown in popularity. Many in the crypto community are buzzing about its potential for significant growth, with some enthusiasts speculating a possible 100x return on investment.
Analysts believe that both Ethereum and Remittix might outperform Cardano (ADA) in the current market cycle. ADA has mirrored Ethereum’s recent price actions over the last 48 hours, but the question remains: what does the future hold for Cardano this quarter?
Institutional Demand is Likely to Drive Ethereum Price Higher
Institutional interest in Ethereum is on the rise, and this could potentially be the catalyst for a price breakout. One notable entity, BitMine Immersion, has amassed an impressive $2.9 billion worth of Ethereum—over 833,000 tokens—making it the largest public holder of Ethereum. This level of investment indicates a strong belief in the long-term value of the asset.
Ethereum exchange-traded funds (ETFs) have also shown resilience, marked by a continuous influx of capital. For instance, a 17-day streak of net inflows recently culminated in a single-day addition of $65.14 million. Additionally, BlackRock’s ETHA saw inflows of approximately $131.95 million by late July. Despite the recent dip in Ethereum’s price, it’s clear that institutional appetite remains robust, lending some stability to the market.
Over the past 30 days, Ethereum has surged about 44.5%, with current prices hovering near $3,600. Analysts are eyeing a breakout point above $4,100, especially if institutional investment and ETF interest continue to climb.
Cardano (ADA): A Golden Cross, But Challenges Ahead
Cardano has followed Ethereum’s lead, with a similar price trajectory. Initially, ADA experienced five consecutive days of decline before a modest rebound of 9.31% over the last 48 hours. Currently, Cardano is trading at $0.7521, with a 24-hour trading volume around $760 million—a daily increase of 4.5%, though down by 6.8% for the week.
Despite recent volatility, Cardano has recently formed its first-ever weekly golden cross—a bullish signal where the 50-week moving average crosses above the 200-week average. However, for this upward momentum to continue, ADA must maintain levels above $0.80 to $0.86. A slip below $0.69 could signal further bearish trends, creating a sense of caution among some analysts.
Remittix Should Be Your Next Bet
Remittix (RTX) aims to revolutionize cross-border payments via Ethereum’s blockchain, designed specifically for low-cost transactions that offer efficiency and transparency. Its target audience ranges from freelancers to SMEs, enabling instant, transparent crypto-to-fiat transfers without the burdensome oversight of centralized exchanges.
What makes Remittix particularly appealing is its wide-ranging support for converting over 40 crypto assets and 30 fiat currencies right from launch, making it globally accessible. Furthermore, it prides itself on real-time foreign exchange conversion, ensuring customers face no hidden fees or unexpected deductions during transactions. Importantly, RTX is poised to close on a substantial market gap, projected at 190 trillion.
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Website: remittix.io
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Disclaimer: For information purposes only. Past performance is not indicative of future results.
