Pepecoinâs price has dropped by more than 70% three weeks after establishing its record high of $0.00000449. And the memecoin could fall even more in the coming days, according to a mix of technical and fundamental indicators.
Various ways exist for gaining exposure to Ethereum. However, it is also essential to remember crypto can be a risky investment with several potential pitfalls. The following are the key factors to consider when buying Ethereum.
Ethereum doubles up as a payment protocol and an investment, but its ambitions go beyond the financial realm. Ethereum seeks to create a global decentralized supercomputer to serve as a platform where developers can rent resources for building their applications. That highlights Ethereumâs unique potential as an economic driver with a significant value proposition.
The stablecoin issuer claimed the venture would utilize renewable energy sources aimed at âsustainableâ Bitcoin (BTC) mining and planned to hire additional team members.
In a May 30 announcement, Tether said it planned to start a mining arm in the South American nation âin collaboration with a local licensed companyâ in addition to investing in Uruguayâs energy production.
The RSI indicator on the 4-hour chart suggested, however, that ETHâs price would drop below the key level in the next 24 hours, as the RSI line was sloped negatively towards oversold territory.
According to Glassnode data, only 14.85% of the total Ether supply is currently held on centralized exchanges, compared with the 25â26% of supply held during the 2021 bull run.
The balance of available Ether (ETH) across crypto exchanges dropped to a five-year low on May 26, bringing the total amount of Ether held on exchanges to 17.86 million.