- Ethereum (ETH) dipped 6% in a week as Grayscale withdrew its Ethereum ETF application.
- Binance Coin (BNB) gained 1.3% on the weekly chart but is still in a recovery phase.
- Milei Moneda ($MEDA) is currently one of the best cryptos to invest in, offering over 33% ROI for Stage 3 investors of its presale.
Ethereum’s (ETH) price action hasn’t impressed investors, recently posting a 6% dip in value. Meanwhile, BNB may have gained 1.3% in a week, but it’s still in the recovery phase as both coins seek price stability.Â
On the other hand, experts highlight Milei Moneda ($MEDA) as the best cryptocurrency to invest in. Investors can enjoy various benefits, including 100% ROI, a 0% tax rate, voting rights, and more. Let’s explore more!
Economize Like Milei: Invest in $MEDA!
Ethereum Drops 6% in a Week: Is Grayscale Behind This Decline?
Although Ethereum is a top crypto to buy, its price is currently hanging precariously above the $2900 region and is set to close the week with a 6% dip in price. On-chain metrics have revealed the important catalysts surrounding the underwhelming performance of ETH.
On a positive note, the global market started in May 2024 as investors piled on capital inflows, hitting $150 billion within the first week. However, this market rally has tapered off since May 7, with bears crawling back most of the gains seen in the first week of May.
Notably, this current bearish pressure surrounding Ethereum seems more intense than the broader market average. The underwhelming performance in ETH price can be attributed to the multiple delays and negative sentiment surrounding Ethereum ETF approval prospects in the United States.
This week, news emerged that the US’ largest Digital Assets Manager, Grayscale, had withdrawn its Ethereum ETF application. This has cast further doubts on the possibility of an approval in 2024. Investors’ negative reaction to this development might have resulted in the current downtrend in the ETH price.
Binance Coin Remains Resilient Amid Market Volatility
The past month has been a rollercoaster for many crypto coins as most struggled to hold on to a positive price action despite the anticipated bull run associated with the Bitcoin halving event.
Meanwhile, BNB holds a position in the crypto space as one of the top crypto coins. For the past month, it has been on a recovery route for most of the time, registering a 1.3% rise in value over the past week.
However, Binance Coin’s price is still down 1% on the monthly chart, suggesting that BNB is still in the recovery phase. If the bulls gather momentum, BNB’s next target resistance could be $635, followed by the $692 level. However, if the bears take control, support levels of $536 and $495 might come into play.
Despite the short-term fluctuations of BNB’s price, its overall trajectory is optimistic, buoyed by the broader crypto market sentiment and its robust fundamentals.
Milei Moneda is Set For a Huge Rally After Its Successful Presale
Milei Moneda is a unique meme coin project that seeks to transform the crypto space through its innovative approaches and distinguishing features. Crypto enthusiasts and analysts have spotlighted Milei Moneda, emphasizing its substantial return potential and growing community.
$MEDA is the native token of the Milei Moneda ecosystem. It is a deflationary token whose value keeps increasing as its overall supply declines over time. With a total supply of 500 million tokens, Milei Moneda allocates 60% to the public, 5% to burn, another 5% to airdrop, 15% to marketing & rewards, and 15% to liquidity.
Holders of $MEDA benefit from some exclusive offers like NFT staking rewards, voting rights, and discounts. With these incredible perks, $MEDA is the best crypto for beginners.
As Milei Moneda prepares to launch on Uniswap on May 21, 2024, its steady value growth and outstanding features promise enticing opportunities for investors. Milei Moneda’s high growth potential underscores its robust market presence, making it the best crypto to invest in. In Stage 3 of its presale, Milei Moneda offers its token at $0.015, marking 33.3% ROI for new investors when it launches at $0.020.Â
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