#Ava Protocol, Sony’s #Soneium partner for no-code blockchain automation
Ava Protocol’s automation tools will simplify smart contracts on Soneium, while supporting developers with no-code solutions and lower costs.
The partnership’s intent-based automation will allow creators and developers to monetize and manage their work more efficiently, minimizing complexity and lowering transaction costs, the release said.
Soneium is designed to provide high-performance, scalable and secure access to decentralized finance, non-fungible tokens (NFTs) and other creator economies.
As of August 6, in the last 30 days, ETH's price plunged 15.5%, hovering around $2,600. This is reminiscent of the plunge that happened in April 2022 following the start of the Fed’s interest rate hiking cycle. This time, the Fed fund futures price in three rate cuts by the end of 2024, with the first one in September with an 82.7% probability. Depending on the severity of the need to stimulate the economy with rate cuts, this could be either a tailwind or a headwind.
Secondary to Bitcoin by market cap, Ethereum has been neck and neck with Bitcoin over the last year across major inflection points. Over one year, however, Ethereum lags behind Bitcoin at 31.6% vs 85.8% gains respectively. The potential for Ethereum ETFs buoyed the cryptocurrency but its gains have been wiped, leaving it trailing behind Bitcoin at 5.9% vs 51.9% respectively, year-to date.
Despite the price slump of both cryptocurrencies in late July, much is expected from Ethereum ETFs, based on the wildly successful launch of Bitcoin ETFs. Considering these and other factors, what price range can ETH holders expect in the near to medium future?