Recent expected trends in the cryptocurrency market have drawn traders' attention, particularly surrounding Ethereum's price prediction, as well as the development of lesser-known tokens.
Ethereum: Bullish Trends and Their Impact on Price
Ethereum continues to be in the spotlight. In June 2023, some metrics showed an increase, including over $1.1 billion in net inflows to spot ETFs. However, despite these positive metrics, ETH has failed to produce a sustained price increase, remaining trapped between $2,300 and $2,500.
Some analysts correlate the underperformance with global economic factors and actions of larger investors known as 'whales'. For example, one whale withdrew 95.3K ETH from staking, indicating potential sell pressure.
Hyperliquid: Cooling Momentum After a Rally
The Hyperliquid (HYPE) token showed significant growth in recent weeks but is now facing a critical resistance level near $41.55. This price corresponds with a Fibonacci retracement level and previous price ceilings, suggesting a potential reversal zone.
Analysts indicate that HYPE may be entering an ABC correction phase, which could see a pullback to $26.53. Nevertheless, the correction appears healthy, with no signs of panic selling.
Remittix: The Utility Token That’s Gaining Attention
Amid Ethereum’s weak momentum, Remittix (RTX) is starting to stand out due to its unique utility. This token allows users to send assets like ETH or USDC directly to bank accounts in minutes, which adds to its attractiveness.
An example is Paulo, a gig worker in Brazil, who instead of losing 6-8% through traditional exchanges, minimizes his expenses to 1% by using Remittix to receive Brazilian reais. With investments of $15.8 million and RTX trading at $0.0811, its growth potential remains significant.
Despite Ethereum's strong long-term fundamentals, the short-term market actions may raise concerns. Meanwhile, new utility tokens like Remittix offer intriguing solutions that could capture the interest of traders seeking practical blockchain solutions.
