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

Crypto remains bearish despite Ethereum’s low gas fees and Cardano’s record holders, with growing interest in Intel Markets.

Although the crypto market has been going through a bearish stint, several top cryptos have witnessed significant developments in recent times. The gas fees of Ethereum have dropped to multi-year lows, while Cardano long-term holders have surged to a new all-time high.

However, despite these achievements, both cryptos continue to struggle with bearish pressure, leading to a shift in interest towards Intel Markets.

Ethereum gas fees drop, but price remains in downtrend

Ethereum, the world’s second-largest crypto, has experienced a shift as gas fees plummet to their lowest levels in five years. Gas fees on the Ethereum blockchain reached under 1 gwei (approximately $0.04). A sluggish market, increased adoption of layer-2 solutions, and recent network upgrades are responsible for the drastic drop.

While the reduction is a good sign, there are concerns over the reduced token burning and increased supply of ETH. Also, the Ethereum price chart is flashing bearish signals. ETH faced heavy resistance near the $2,750 level and has been consolidating around the $2,600 level.

Also, the market cap of Ethereum has been ranging between $275 billion and $330 billion for most of August. If ETH stays below the 30-day simple moving average ($2,820), the Ethereum price USD could fall further. Only a break above the 30-day SMA could lead to a recovery of $3,000.

Long-term holders reach all-time high, but bears persist

According to data from the 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 on to the ADA in their Cardano wallets for at least one year.

Historically, the holder numbers increase as the bull market progresses. While this data suggests that a price increase is around the corner for Cardano, ADA remains within a descending channel. Because of this, the market cap of Cardano has dropped from $16.1 billion to $12.6 billion in 30 days.

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

Investors move to Intel Markets as presale gains momentum

While most of the crypto market is struggling, the presale of Intel Markets (INTL) has been gaining a lot of traction. In just a few days of its presale, Intel Markets has raised over $125,000, as investors consider it the future of the crypto trading space. There is much hype about Intel Markets because it is an AI-powered trading platform with a dual-chain architecture. 

Intel Markets provides traders with flexibility and scalability like no other platform, as it is built on both Ethereum and Solana. The platform has unique AI tools to empower regular crypto traders to become the top 1% of profitable traders. The platform’s flagship trading bot has a proven history of profitable performance tracked for 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 exciting features, there have been a lot of users joining the presale, buying 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 shifting their interest toward Intel Markets. Based on the forecasts of market experts, the INTL coin will leverage the growing popularity of its trading platform and could trade as high as $0.10 before the year ends.

For more information, visit Intel Markets’ presale website or follow the project on Telegram and X.