Ethereum Price Struggles Post ETF Launch As Meme Coins Outperform ETH YTD

Quick Summary:

Ethereum price remains smothered three days after the launch of the ETF as meme coins enjoy exponential gains year-to-date (YTD).

The price action is trending below the 50-day and 200-day exponential moving averages (EMA), indicating a continued downtrend.

ETF analysis shows poor inflows from BlackRock’s ETHA product, which only saw $17.2 million in inflows on the first day of trading.

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Article Details

Author / Journalist: Evans Karanja

Category: Crypto

Markets: India

Topics: Price Analysis Ethereum price Ethereum Price Analsysis Meme coins

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 05:48:47 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 55 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21781099

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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News Last Updated: 8 hours ago

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