Ethereum and Solana traders are interested in a new pre-sale token

As the Intel Markets presale launches, investors from major projects like ethereum and Solana are flocking to invest in INTL.

The cryptocurrency market is undergoing a shift. The once darlings of the crypto world, ethereum and Solana, are experiencing an unexpected exodus. Seasoned traders who once held onto their SOL and eth holdings as a hedge against inflation are now selling them.

It seems that they are investing their shares in new projects, such as the Intel Markets pre-sale. Let's see the details.

ethereum price falls amid institutional outflows

On August 3, the price of ethereum fell below a significant resistance at $3,000; since then, the cryptocurrency has been unable to break above this mark.

Today, eth is trading 15% below the $3,000 mark at $2,576. There are three possible reasons for the ethereum price decline. Over the past eight days, ethereum spot ETFs have seen outflows on a consistent basis. Bloomberg data reveals that Ether spot ETFs launched in July had lost $112 million in institutional funds.

Additionally, the initial enthusiasm surrounding the possibility of ethereum deflation has likely faded. ethereum demand and price are being negatively impacted by outflows from spot Ether ETFs.

The last significant update to the ethereum network was EIP-4844, or proto-danksharding, which caused transaction fees on layer 2 chains to plummet. Network revenue fell because layer 2 chains receive a disproportionately large share of transaction fees.

The supply of eth has also been affected by this. Since EIP-4844, eth has started to become inflationary once again. The amount of eth in circulation is larger than it would otherwise be as there are lower transaction costs, which also means less eth is burned and collected in fees.

A higher volume of the asset available on exchanges and user wallets due to a higher circulating supply generally leads to increased selling pressure, which slows price increases.

Solana gains momentum with Robinhood IPO

According to a recent announcement by Johann Kerbrat, CEO of Robinhood crypto, Solana has recently been added to the cryptocurrency wallet. This upgrade will enhance the cryptocurrency wallet by combining new blockchains and digital assets.

Solana is now part of Robinhood’s expanding list of crypto-supported coins, which also includes ethereum, Polygon, and bitcoin. Additionally, Robinhood’s decision to support SOL followed its acquisitions and license expansions earlier this year, which increased its cryptocurrency offering.

Following the news, the price of SOL rose slightly, indicating that the market is positive on this move. Trading volumes may increase as a result of the capabilities of the Solana blockchain and Robinhood’s large user base.

A recent price analysis shows that SOL is poised for an 18% surge as it approaches a major flag pattern breakout.

Intel Markets Pre-Sale Begins, Raises Over $175,000

Bucking the current bearish market trend is one of the new emerging projects, Intel Markets. In the first two days of its public pre-sale launch, Intel Markets raised over $140,000 in funding, currently totaling over $175,000.

One of the key features of Intel Markets is its dual-chain trading platform. It allows you to trade on two different blockchains, Solana and ethereum, giving investors a wide range of asset exposure and taking advantage of the positive aspects of two different blockchains.

With 1000x leverage, Intel Markets offers advanced trading tools such as powerful charting software. Its flagship tool is its ai-powered trading robot, which is used by over 1200 traders and has a track record of lucrative performance. With these amazing features, users can make the most of any trading opportunity and maximize their profits.

Users, especially Solana and ethereum investors, have been flocking to buy Intel Markets’ native coin, at a discounted price of $0.009, due to the exchange’s massive potential.

To learn more about Intel Markets, visit the pre-sale and check out their Telegram and x.com/intel_markets” rel=”nofollow” target=”_blank”>twitter.