Ethereum, Bitcoin, and Meme Coins Price Forecast in Asian Markets on August 21
Ethereum (ETH) saw a slight drop of nearly 1% on Tuesday, with its weak open interest suggesting that prices are likely to remain within a range in the upcoming days. This fluctuation in price aligns with the third consecutive day of negative flows in ETH ETFs, with $20.3 million in net outflows recorded on Monday.
On the other hand, Bitcoin experienced a nearly 1% increase on Tuesday, despite remaining below the $60,000 mark. Data from CryptoQuant indicates that buyers have been absorbing the selling pressure following the recent market crash. Bitwise’s report also highlights that institutional investors continue to show interest in Bitcoin despite the recent price dip.
In the world of meme coins, BRETT took the lead in the market’s recovery journey on Tuesday. This surge was attributed to Binance listing a perpetual futures contract for the Base Layer 2 meme token. Additionally, FLOKI saw over a 10% increase after announcing that holders would receive a CAT meme token airdrop. The meme coin market, including WIF and other top players, traded positively, signaling a potential recovery phase.
Ripple made headlines with the announcement of improvements to its XRP Ledger blockchain. This decentralized public blockchain facilitates the transfer of native token XRP, fiat, and other digital assets. The recent reset of the XRP Ledger testnet aims to enhance efficiency and reduce the operational costs of running a node.
In summary, Ethereum and Bitcoin continue to navigate through price fluctuations, while meme coins like BRETT and FLOKI show signs of recovery. Ripple’s advancements in blockchain technology further contribute to the evolving landscape of cryptocurrencies. Stay tuned for more updates on the dynamic world of digital assets.
