Ethereum (ETH) is down 3% on Wednesday following a wider market downturn with potential Mt. Gox BTC supply flooding the market. Despite the general market lull, investors may gain consolation from Bitwise prediction that Ethereum ETFs could outperform analysts’ expectations if positioned as a high-growth tech play similar to Nvidia.
Ripple (XRP) made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss (NPL) have turned bullish, supporting a recovery in the altcoin.
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Pepe (PEPE) price is down 7.5% on the day at $0.0000107 as it revisits an ascending trendline support on Wednesday. On-chain data reveals a negative funding fee and a decreased long-to-short ratio for PEPE, indicating potential bearish momentum that could lead to a price decline in the coming days.
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