Growing tensions between Israel and Iran triggered massive sell-offs following the start of a bearish trend on Monday. However, analysts are confident this current market momentum will change. They urge investors to buy the dip and be patient for the imminent bull market.
ETH coin and Ethereum USD are among the tokens in recovery after a bearish start to October. ETH coin and Ethereum USD recorded a steady growth in market value in the last 48 hours. BEFE coin, a promising memecoin according to market observers, is a massive contender for coin of the season.
In this article, we reveal what you need to know about BEFE coin and how BEFE coin could stay ahead of ETH coin and Ethereum USD in the imminent bull cycle.
ETH Coin and Ethereum USD Holders Could Switch Despite Recent Surge
The price chart shows that the ETH coin moved down significantly following the larger bearish movement of the global market. Ethereum USD’s weak start in the final quarter catalyzed selling activity. ETH coin holders have since then liquidated some or all of their Ethereum USD holdings.
The total holding addresses for ETH coin now count at 237.32M. About 46.65% of addresses have held ETH coins for at least one year, while 44.18% have barely held their Ethereum USD holdings, liquidating their ETH coins in less than a year.Â
Since the start of the bearish market phase on Monday, Ethereum USD has been a victim of rising global liquidity. On Tuesday, an early adopter of ETH coin shook the market after liquidating up to $47.5M worth of his Ethereum USD holdings within 48 hours.Â
At press time, ETH coin is exchanging at $2,413, reflecting a modest daily gain of nearly 3.0%. Technical indicators show Ethereum USD could hold steady above the $2,400 support level.
Although ETH coin’s reversal in the last 24 hours reignited Ethereum USD investors’ faith in a rebound, the significantly reduced positive sentiment around ETH coin could lead to a prolonged price stagnation for Ethereum USD.
Should Ethereum USD continue to consolidate, holders could be forced to sell off more of their Ethereum USD tokens and switch to promising tokens like BEFE coin.
BEFE Coin Could 10x in Q4
BEFE coin is a meme-based project built on the Bitgert blockchain. BEFE coin’s appeal and utility in the crypto market attracted a massive following to the BEFE coin community.
BEFE coin utilizes the unique capabilities of Bitgert’s blockchain. For instance, BEFE coin holders can execute multiple transactions without worries about network congestion issues. At press time, BEFE is bought and sold at $0.00003592 per token.
Interestingly, market analysts are backing BEFE coin to be one of the top-performing projects in Q4, despite BEFE coin’s recent correction.
BEFE coin’s profit margin could reach up to 10x, outpacing that of ETH coin or Ethereum USD.
Grab your own $BEFE token at Gate.io, PancakeSwap, MEXC, and BitMart!
Step 1: Register on the exchange
Step 2: Choose a payment method
Step 3: Buy $BEFE
Visit https://befetoken.com/ to know more.
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