Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Meme Coins — Asian Wrap 21 August
|Ethereum weak open interest signals consolidation, ETH stays within sight of $2,600
Ethereum (ETH) is down nearly 1% on Tuesday as its weak open interest indicates that prices will likely remain range-bound in the coming days. The choppy price action coincides with ETH ETFs recording a third consecutive day of negative flows, with $20.3 million in net outflows on Monday.
Bitcoin stays below $60K despite increased transfer volume and institutional adoption
Bitcoin is up nearly 1% on Tuesday as CryptoQuant data shows buyers have been absorbing panic selling pressure since the recent market crash. This is also evidenced in Bitwise's report, which reveals that institutional investors are still buying Bitcoin despite the recent price decline.
BRETT, FLOKI, WIF lead meme coin recovery
BRETT led the entire meme coin market on its path to recovery on Tuesday after the Binance exchange listed a perpetual futures contract for the Base Layer 2 meme token.
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