Bitcoin’s recent halving has attracted attention to potential price increases, but so far, the desired surge has not materialized. As a result, investors in the cryptocurrency market are now turning their focus to altcoins such as Ethereum, Shiba Inu, and Terra (LUNA).
Is It Time to Buy Ethereum?
Recently, a significant development shook the market. The listing of Franklin’s ETF generated excitement in the cryptocurrency world. This ETF, known as EZET at the US DTCC, was highly anticipated, and its impact was felt immediately. Ethereum (ETH), which had been on a decline, experienced a noticeable price recovery.
As of now, ETH has risen by over 3% and continues to trade at $3,247. This upward movement has also had a positive effect on the weekly outlook, with a weekly increase of over 3%. However, investors are still cautious about buying ETH, considering its all-time high in 2021 and the recent peak of $4,000 last month.
Many analysts have predicted potential rises for ETH, and statements from officials at Blackrock and Standard Chartered have also supported this view. However, it’s important to be aware that prices can be influenced by geopolitical and macroeconomic factors, and there is always a possibility of a decline.
The Future of Shiba Inu
Meme coins have gained popularity among those seeking significant gains in the cryptocurrency market. SHIB, the biggest competitor to Dogecoin (DOGE), continues to make daily developments and remains the 11th largest by market cap.
Since its emergence, SHIB has seen significant growth, and its investors remain optimistic. Despite recent burn rate increases of over 2000% and another increase of over 900%, the price of SHIB has not risen as expected and currently trades at $0.00002471 after a 3% drop.
Key figure LUCIE has shed light on the company’s future, with innovations such as Shibarium and Layer-3 aimed at boosting SHIB’s price.
What is Terra (LUNA)’s Current Price?
In May 2022, Do Kwon and the Terra Foundation caused a major disruption in the market. However, after reaching a historic peak, LUNA failed to recover and experienced a significant decline.
Currently, LUNA has shown a modest decrease of 0.82% over the last 24 hours, bringing its price down to $0.6147. Its market cap has dropped to $444 million, ranking it 150th in the market. Additionally, the 24-hour trading volume has decreased by 35% to $23 million.
Disclaimer:
This article is not intended as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
