Ethereum and Cardano remain bearish despite a new milestone; Intel Markets gains ground

Cryptocurrencies remain bearish despite low ethereum gas fees and record holders Cardano, with growing interest in Intel Markets.

Although the cryptocurrency market has been going through a bearish period, several major cryptocurrencies have witnessed significant developments in recent times. ethereum gas fees have fallen to multi-year lows, while Cardano’s long-term holders have surged to a new all-time high.

However, despite these achievements, both cryptocurrencies continue to battle bearish pressure, leading to a shift in interest towards Intel Markets.

ethereum gas fees fall, but price remains on downtrend

ethereum, the world's second-largest cryptocurrency, has seen a turnaround as gas fees fall to their lowest levels in five years. Gas rates On the ethereum blockchain, the price dipped to less than 1 gwei (approximately $0.04). The drastic drop is due to a sluggish market, increased adoption of layer-2 solutions, and recent network upgrades.

While the reduction is a good sign, there are concerns over the reduced token burn and increased eth supply. Moreover, the ethereum price chart is showing bearish signals. eth faced a strong resistance near the $2750 level and has been consolidating around the $2600 level.

Additionally, ethereum's market cap has been hovering between $275 billion and $330 billion for most of August. If eth stays below the $330 billion mark, 30 days If the 30-day simple moving average (SMA) ($2,820) holds, ethereum price in USD could fall further. Only a break above the 30-day SMA could lead to a recovery to $3,000.

Long-term holders hit all-time highs, but bears persist

According to data from Balance by Time Held, the number of long-term Cardano (ADA) holders has skyrocketed to an all-time high of 3.2 million. Long-term holders are those who have held ADA in their Cardano wallets for at least one year.

Historically, the number of holders increases as a bull market progresses. While this data suggests that a price increase is just around the corner for Cardano, ADA remains within a descending channel. Due to this, Cardano’s market cap has dropped from $16.1 billion to $12.6 billion in 30 days.

For ADA to break out of this descending channel, Cardano price must reclaim the 50-day ($0.3763) and 100-day ($0.4059) simple moving averages (ADA). The bullish news for Cardano that can inspire this rally is the upcoming Chang upgrade scheduled for late August.

Investors flock to Intel Markets as pre-sales gain momentum

While most of the cryptocurrency market is struggling, Intel Markets (INTL) pre-sale has been gaining a lot of momentum. In just a few days of its pre-sale, Intel Markets has raised over $125,000 as investors are considering it the future of the cryptocurrency trading space. There is a lot of hype around Intel Markets because it is an ai-powered trading platform with a dual-chain architecture.

Intel Markets offers traders flexibility and scalability like no other platform as it is built on ethereum and Solana. The platform features unique ai tools to enable everyday crypto traders to become the top 1% of profitable traders. The platform’s flagship trading bot has a proven track record of profitable performance recorded by over 1,200 traders.

Intel Markets users can also use the copy trading feature to follow the trades of other successful traders. Because of these interesting features, many users have joined the pre-sale and purchased the native INTL token at $0.009.

Is Intel Markets more profitable than ethereum and Cardano?

While eth and ADA have failed to impress despite reaching new milestones, investors are turning their interest towards Intel Markets. According to market experts’ forecasts, the INTL coin will take advantage of the growing popularity of its trading platform and could trade as high as $0.10 before the end of the year.

For more information, please visit Intel Markets Pre-sale Website or follow the project on Telegram and x.com/intel_markets” rel=”nofollow” target=”_blank”>unknown.