Ethereum (ETH) Price Predictions as USD Coin (USDC) Loses Market Cap & Investors
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Ethereum (ETH) had The Merge recently, which went down as a ‘sell-the-news’ even for traders as Ethereum’s price plummeted by over 30%. USD Coin (USDC) market cap incline has stopped and started to decline after Binance converted all USDC into BUSD.
Weeks before the Merge, Ethereum was soaring amid traders' high anticipation, and USDC market cap was rising - what a difference a few weeks can make.
Amid this murky momentum, traders have shifted their attention to The Hideaways, which analysts confirmed to have a long-term hold and a bear market gem with a potential for 500x.
Ethereum (ETH) Price Predictions Show Choppy Road Ahead
The world's second-largest cryptocurrency by market capitalization, Ethereum (ETH), gave up all of its gains from the previous months after the completion of The Merge event.
It is the transformation of the Ethereum Mainnet blockchain from the proof-of-work (PoW) to the proof-of-stake (PoS) chain.
Traders responded to the upgrade as "buy-the-rumor" and "sell-the-news" In the middle of the market's excitement, Ethereum's price has been surging by 35.15% over the past three months.
However, following the blockchain's transformation, Ethereum lost 16.00% of its value and traded below the support zone of $1,440.
As of September 21, 5 days after The Merge's completion, the ETH token tumbled 8.21% to the price of $1,277.62.
Looking back, Ethereum is down by 40.30% since the Merge and, much worse, dropped 58.89% since last year.
One of the issues has been it’s now more centralized compared to being on PoW, an issue similar to USDC.
USDC Coin (USDC) Has Nowhere To Go & Business Development Team Have Given Up
The second-largest stablecoin and the fourth-biggest cryptocurrency by market capitalization, USD Coin (USDC), lost much of its market cap this week.
Why? Binance exchange swapped all USDC to BUSD.
Over the past 24 hours, the digital asset’s volume plunged from its average exchange amount of $126,940,000,000.00 to $7,148,571,345.53.
While there was FUD and rumors over USDT (Tether USD), it seems that USDC - who recently handed over the keys to their treasury to traditional finance giants BlackRock - are on the side of the government instead of the people.
So what can USDC holders and ETH holders do in this bear market? Look for bear market gems which have the potential to outperform not only in the bear market but in the next bull market too. Enter, The Hideaways.
The Hideaways (HDWY) Popularity Grows Among Large Ethereum Investors
The lack of direction in the crypto market has turned big investors’ attention to The Hideaways (HDWY). It came at the perfect moment as it’s a real-estate-focused crypto looking to revolutionize the traditional property market.
This new crypto project permits traders to invest in real-life properties, receive rental income, and stake while building gains.
It also allows investors to profit from a $226.00 trillion industry for a minimum investment of $100.00. You get real yield streamed to you in ETH, USDT or USDC instead of a hyperinflationary token that trends to 0.
Buying the HDWY token enables traders to purchase fractionalized non-fungible tokens (NFTs) and get the yield talked about.
As HDWY will only be bought from the open market, staked and utilised, rather than given out for free via hyperinflationary tokenomics - we see the price going up to $5 in the long-run. A good 500x increase from here - and that still puts it at a realistic market cap.
As of September 22nd, the project has gained more than 2,000 investors, rushing before a 100.00% price rise to $0.02.
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