Crypto Market Review: While $FLOKI and $BONK are gaining some traction on the market, more 'serious' assets like $ETH are getting ready for corrections
With a further rise of risk tolerance in the market, we are more likely to see ascending tendencies in the aforementioned meme assets. However, investors should stay cautious, as each one of them is extremely volatile.Ethereum has been experiencing a rise in price performance lately, gaining over 4% in the last 24 hours. One of the factors behind this rise is the effective work of the burn mechanism.
Thanks to the high burn rate, the selling pressure on the asset is continuously easing. This is a positive scenario for Ethereum and its investors, as it helps to create a more sustainable ecosystem by reducing the overall supply. With fewer tokens in circulation, the value of each token should theoretically increase as demand remains constant or increases.is in terms of its long-term sustainability.
However, there is also a scenario in which the burn rate does not help Ethereum. If the burn rate is too high and causes a significant reduction in the overall supply of ETH, this could lead to a lack of liquidity on the market. This could make it more difficult for investors and users to buy and sell ETH, which could harm the overall ecosystem.The U.S. dollar index, also known as the DXY index, is a weighted average of six major currencies against the U.S. dollar.
The U.S. dollar has traditionally been seen as a safe-haven asset, and in times of economic uncertainty, investors tend to flock to it. This can cause other asset classes, such as cryptocurrencies, to lose value as investors move their money out of riskier investments and into safer ones.
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