During the Q1 bull market, Ethereum performed well at nearly $4,000 but failed to extend its rally to a higher price range. Former hot projects like Chilliz are still appreciated in the bull run but require a detailed trading plan. New, active platforms like DeeStream are mopping up some of the liquidity, with the lowest possible entry point at the second round of the token presale. Buyers no longer want to hold for a return journey and are looking for more promising positions.
Ethereum still held outside exchanges
The Ethereum market price slide wiped out hundreds, but the token held on at $3,068.16. Trading volumes doubled in the past day as more tokens changed hands. However, what supports Ethereum is that the tokens traded are mostly from the supply of exchanges.
Long-term holders are not eager to separate from their coins immediately, so exchanges even posted small net outflows. The staking smart contract holds around 30% of the Ethereum supply. Ethereum also gets support from being locked in liquidity pools.
For now, Ethereum continues to show weakness against Bitcoin and has not shown the potential to rise to five-digit prices. However, in the short term, Ethereum may remain risky and pressured by the overall market panic. Ethereum also requires significant investments and may cut into profits due to fees when cashing out.
Chilliz price downturn makes investors abandon ship
Chilliz had a relatively small downturn in nominal turns, crashing from $0.14 down to $0.10. Chilliz may be chosen at this price range for its rally potential, but the downside is significant. Chilliz sales have accelerated in the past few days, raising volumes to a monthly peak of $162M in a day.
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The Chilliz platform aims to reach out to its community and offer Web3 solutions for sports. However, the asset is also actively traded for short-term speculation.
Chilliz also experienced a powerful hype cycle after the initial token launch. However, the slowdown in Web3 enthusiasm caused the token to experience a long bear market.
DeeStream brings tokenized support for star streamers
Streaming is a growth industry expected to reach a total volume of $160B in 2024. The DeeStream project aims to tap into gaming talent while giving supporters a more agile tool for micropayments. The DeeStream token, to be minted with a capped supply of only $300M, offers a ground-floor entry point into a lively platform.
DeeStream will come with a locked team allocation for 1,000 days and lifetime guaranteed liquidity. Owning DeeStream tokens will also grant any user rewards and a share of fees. The goal is to build streamers’ reputations based on the direct input of fans.
During the stage 2 presale, DeeStream will be available for a limited time at $0.055 per token. At this entry point, DeeStream has the potential to turn into a scarce, valuable asset and a blue-chip Web3 token, potentially achieving 100x growth.
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Find out more about the DeeStream presale by visiting the website here.
Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.
