Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Layer 1 Tokens — Asian Wrap 01 July
Over 1 million people hold at least one Bitcoin, here’s where BTC is headed
Bitcoin (BTC) wallet addresses holding at least one Bitcoin has crossed 1 million, per Glassnode data on June 30. Majority of BTC holders are profitable at the current price and analysts predict a bull run in the largest asset by market capitalization.
Ethereum and Polygon dominate crypto’s institutional investments, what that means for traders
The second largest crypto ecosystem Ethereum (ETH) and scaling protocol Polygon (MATIC) have noted a rise in institutional investment with the recent launches of crypto-related products. The Ethereum and Polygon ecosystems therefore dominate the investing landscape, likely boosting the utility of tokens in the networks.
Layer 1 tokens that are likely dead coins, fail to recover this cycle: XTZ, IOTA, KLAY, ALGO, EOS
The cryptocurrency market is cyclical in nature and several Layer 1 tokens have noted a decline in their prices, as new narratives like Artificial Intelligence (AI) and meme coins dominate in 2024. Data on Layer 1 tokens shows a significant decline in their prices this cycle, drawdowns greater than 75%.
Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
