The cryptocurrency market has seen pessimistic indicators in the last week, affecting investors’ enthusiasm to participate in various projects on various chains in the cryptocurrency market. According to the statistics, Ethereum’s (ETH) price has fluctuated owing to multiple unsuccessful transactions, prompting investors and crypto traders to seek alternative assets such as Sparklo (SPRK). Solana (SOL) has been showing signs of bearishness for over the weeks.
Ethereum (ETH) Price Plummeted Due To An Increase In Failed Transactions
In the previous month, the price of Ethereum (ETH) ranged between $2100 and $1800. According to CoinMarketCap data, the leading altcoin was valued at $1,869 at press time, up 2% in the previous 24 hours.
An on-chain investigation of Ethereum’s (ETH) performance discovered a decrease in network traffic commencing on April 14. The number of daily active addresses trading the alt has plummeted by 41% since then, according to Santiment.
Furthermore, the number of new addresses generated on the Ethereum (ETH)network each day has decreased. On May 1, 12,492 new addresses were established on the Ethereum network, according to data from an on-chain data source. This was a drop of 86% from the 91,560 new addresses created on April 14.
With the number of new and active addresses trading Ethereum (ETH) continuing to dwindle, the coin’s value has dropped from $2100 on 14 April to $1,869 at the time of publication.
Aside from a drop in network activity, Ethereum (ETH) funding rates dropped to a one-month low of -0.013 on May 3. When a cryptocurrency has negative financing rates, it means that the bulk of market players are shorting the asset or betting against it.
Solana (SOL) is In Danger of losing out on Investors due to a fall in price
Solana (SOL) is about to break through the rising support line that has been in place since the start of the year. A breakdown indicates the end of expansion and may result in a precipitous plunge.
The price of Solana (SOL) has been climbing along the ascending support line since the beginning of 2023, hitting a yearly high of $27.12, but Solana (SOL) has been declining since April 20. Given that this line has been in place for 125 days, a break below it would be a major bearish event for Solana (SOL). Solana (SOL) has gained significant negative momentum, indicating a drop in the Crypto market.
Solana pricing study shows a falling trend with possibilities for the future decline. Furthermore, the current market environment appears to be negative, indicating a bearish sentiment. As a result, it is reasonable to expect the bears to seize control of the market and launch more negative swings.
Why Sparklo?
Sparklo is a decentralized and safe precious metals investing platform. Sparklo enables users to buy and sell precious metals on the cryptocurrency market by employing Ethereum blockchain NFTs.
Sparklo’s fractionalization technique makes it possible for investors of all income levels to participate. Sparklo has partnered with top brands and jewelry companies to provide an exceptional buying and selling experience as well as trading liquidity. Furthermore, the platform has finished its InterFi Network audit and KYC verification process, giving investors peace of mind.
The blockchain-based Web3 platform of Sparklo has facilitated the trading of rare metals such as gold, silver, and platinum. Its major purpose is to make assets more accessible, particularly to retail investors, by fractionalizing them using non-fungible tokens (NFTs).
The Stage Two presale began with a starting price of $0.019 per SPRK, providing early investors and cryptocurrency enthusiasts with yet another wonderful opportunity to participate in the new endeavor.
Find out more about the Sparklo presale:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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