- OKB (OKB) on Exchanges Plummet
- Fetch (FET) Signals Long-term Bottom Formation
- Floki (FLOKI) Fundamentals Improve
With Bitcoin (BTC) price surging past $60,000, crypto markets have regained momentum. If this BTC rally sustains, investors can expect these 5 Ethereum coins to soar due to their strong fundamentals, allowing them to turn $200 into $2,000.
OKB (OKB) on Exchanges Plummet
According to Santiment data, the total supply of OKB held on centralized exchanges has dropped by 252% since March. This sudden drop in the supply of OKB on centralized platforms is considered bullish for the crypto. A lack of tokens on exchanges suggests that investors are confident in the long-term performance of the altcoin and do not plan on selling their holdings anytime soon. This bullish outlook is why investors can expect OKB, an Ethereum coin, to trigger a massive run-up should the crypto market retain its bullish outlook.
Fetch (FET) Signals Long-term Bottom Formation
Based on Santiment data, the MVRV Long/Short Difference for the AI token Fetch hovers around -16%, deep in the negative territory. This indicator is obtained by calculating the difference between the 365-day and 30-day MVRV ratios. Extremely negative values are often considered potential reversal zones and the end of the bear market. Considering this, investors can expect the Fetch (FET), which is both an AI and Ethereum coin, to move higher.
Floki (FLOKI) Fundamentals Improve
The recent uptick in crypto markets has caused this Ethereum-based meme coin Floki (FLOKI) price to increase. On-chain data shows that the network growth for FLOKI has spiked, indicating that new addresses, aka capital, are joining the meme coin network. This outlook adds credence with an increase in the daily active addresses, noting a bullish future ahead for this crypto.
The end of August could bring volatility and short-term correction, but the sidelined buyers will likely step in and retain the ongoing bullish outlook. Investors could speculate on these 5 Ethereum coins to turn their $200 into $2000.
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