Cryptocurrency coin: high volatility on Ethereum (ETH) quotes; calm before the storm on Bitcoin (BTC) price

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Cryptocurrency prices have remained stable over the past week, with investors judging the situation based on these. Bitcoin has been stable at $30,000 for several weeks, raising hopes that the worst time for the crypto has passed.

Bitcoin started the week below $29,000 and rallied to near $32,000 on Tuesday before falling below $29,500. It has since grown further and now sits at $31,000.

Ethereum is subject to constant volatility, possibly due to investor uncertainty around The Merge, which is right now. The ETH token started below $1,800 last week and surged above $1,950 on Tuesday. However, its value fell below $1,750 the previous week, which fell back to around $1,850. It is likely that ETH will remain under external influences until the results of The Merge are clear. The blockchain technical update has serious ramifications for its uses and symbolic value. In theory, this will have a deflationary impact on cryptocurrencies, which could prove to be a valuable aspect in the current high inflation environment.

Ethereum has a strong foundation ahead of The Merge

Despite the constant price volatility, the foundations around the Ethereum blockchain seem really strong and are particularly notable ahead of the upcoming merger.

Fresh data from glass knot show a record number of addresses with ETH. While the nominal price has fluctuated considerably over the past few months, one thing is clear: there are more participants in the network than ever before, and the blockchain is serving the purpose for which it was designed. The amount of ETH in Ethereum 2.0 deposit contracts is also at record highs. This suggests that many investors and market participants are playing the long game of participating in the network and holding an attractive position, despite recent short-term volatility. This is potentially a good strategy, especially if you have confidence in ETH use cases, which is essential for a good investment.

The connection will be a great test for the network and will likely give it direction for the foreseeable future. Investors will be watching the progress closely, and if we continue to see positive signals such as more registration addresses, it means that the blockchain and therefore the price potential will only get stronger.

Institutional Investors Quietly Build Cardano Stock

Cardano has had dramatic ups and downs over the past two years. However, despite losing much of its value from its August high of last year, it looks like institutional investors are quietly building sizable positions in the token, according to the latest market survey. CoinShares digital assets.

Two processes are involved here. The first comes solely from the diversification aspect. Institutional investors with a mandate to invest in cryptocurrencies will need to look at the entire market, which is made up of hundreds of tokens. Cardano (ADA) is currently the main ingredient in this market – not the biggest player, but it is certainly an important player. The second, more fundamental process taking place here comes from the “active” manager’s perspective of selecting potential winners. While we can see that the crypto space continues to be a very diverse market with many different major blockchains, there will also be winners and losers.

Cardano, although not yet at the scale of a network like Ethereum, is a strong contender. From this point of view, it is obvious for fund managers to look for potentially winning investments. Compared to other industries, crypto is still in its infancy. Looking back, who wouldn’t take the chance to invest in Meta (formerly Facebook) when it first started operating? It is very important to have a solid investment case when considering all assets – and cryptocurrencies as well. Institutional investors seem to be gaining ground at the moment.

The main Brazilian football club adopts Shiba Inu

Brazil’s main football club, Sao Paolo FC, now accepts Shiba Inu as payment for tickets. It’s easy to forget that cryptocurrencies are a truly global phenomenon, and such news is a good reminder. Brazil is becoming something of a cryptocurrency powerhouse, and it’s a good example of why it’s worth it.

As with SpaceX, the club will accept Shiba Inu for certain commodity payments, this will not change the token’s price request. But it is clear that the dominoes are going in the right direction. It’s also an important reminder that it’s not just the US, UK and Europe that are engaged in big cryptocurrency ideas. Latin America is a serious player in this sector and should not be taken lightly.

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