Ethereum Price Prediction As BlackRock ETF Sees $117M Inflows - Best Crypto To Buy Now?
Release: 2024/08/01 00:22 Reading: 425
Spot Ethereum ETFs Witness Strong Inflows
On Tuesday, spot Ethereum ETFs experienced a significant influx, collectively gaining over $33 million. This surge follows Grayscale's reduced outflows, which tapered down to $120 million from $210 million the previous day. Meanwhile, BlackRock's ETHA ETF recorded an impressive $117 million in inflows, bringing its total to $618 million since its launch.
ETH Outlook Brightens
Experts speculate that the bottom may be in for ETH, attributed to the sustained strength in ETFs. Ethereum price predictions anticipate the altcoin reaching a new all-time high in August. Meme coins like Pepe and Floki are also poised for upward momentum. Newcomers like WienerAI are attracting attention as experts deem them worthy investments.
Ethereum Price Forecast for August
Driven by the ETF inflows, Ethereum's appears poised for a breakout. Grayscale's ETHE outflows mirror BTC's trajectory, leading to a correction. However, once Grayscale's holdings reduced by 15%, BTC established a local bottom. With ETHE's holdings now also reduced by around 15%, ETH seems primed for a similar recovery.
BlackRock's spot Ethereum ETF recorded higher inflows than its BTC counterpart on Tuesday. Consequently, the ETH/BTC pair has exhibited strength and is trading 1% higher. The FOMC meeting held today carries potential implications. While interest rates are anticipated to remain unchanged, Fed Chair Jerome Powell's remarks could signal future rate cuts, potentially fueling a crypto bull run.
Based on these factors, our Ethereum price forecast predicts significant bullish momentum in August. The ETH price is expected to breach its 100-day SMA and 50-day EMA, currently hovering around $3,350. This could pave the way for a substantial rally, targeting a retest of the May high and reaching as high as $4,100 by month's end.
Ethereum Meme Coins Join the Rally
Ethereum meme coins, such as Pepe and Floki, typically correlate with ETH. Hence, their surge is unsurprising, expected to accelerate once the ETH/BTC pair surpasses 0.06. New meme coins like WienerAI are also gaining traction.
WienerAI, for instance, recently concluded its successful presale, raising over $9 million. Its unique AI-based value proposition, including an AI Trading Bot and passive income opportunities, has attracted attention. Experts suggest that WienerAI holds potential for significant returns, making it a compelling investment choice.
Disclaimer:
This article is sponsored and intended for informational purposes only. It does not represent the views of Crypto Daily and should not be construed as legal, tax, investment, or financial advice.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com