Ethereum ETFs Outflow and Crypto Market Trends
The recent approval of nine spot Ethereum Exchange Traded Funds (ETFs) in the United States has seen a net outflow of $152.3 million in just three days of trading. This follows a similar trend from the previous two days, signifying a slight increase in outflow. Despite this, some cryptocurrencies trading below $1 are experiencing upward trends, providing potential investment opportunities.
Top Cryptos Under $1 to Watch
Here are some cryptocurrencies trading under $1 that are currently experiencing upward trends:
- The Graph (GRT): The Graph has managed to maintain a positive outlook despite the bearish market, seeing a 15% uptick in the last seven days. The token is currently trading above its 200-day simple moving average, indicating potential growth.
- 99Bitcoins (99BTC): 99Bitcoins is a Learn-to-Earn platform that rewards token holders for their knowledge of cryptocurrencies. Its presale, which ends on August 2, has raised over $2.5 million and offers discounted tokens at $0.00115.
- Chiliz (CHZ): Chiliz is a blockchain platform focused on sports and entertainment. It has recently partnered with Azuro to promote the adoption of on-chain sports prediction markets. The token is currently trading above its 200-day simple moving average and demonstrates strong liquidity.
- Nervos Network (CKB): Nervos Network provides a platform for secure peer-to-peer activity for various blockchain applications. It has seen a 210.33% year-to-date surge and a 5% increase over the past week. The token demonstrates high liquidity and potential for sideways trading.
These developments provide valuable insights for traders seeking to evaluate the growth potential of different tokens. It’s important to conduct thorough research and due diligence before making any investment decisions.
