Ethereum (ETH) hit a seven-month low last week, and overall, things are looking bleak for crypto’s second-largest currency. Many are wondering if ETH can still reach the $2,000 price goal that many thought it would be able to reach before 2024.
The short answer we have is it looks highly unlikely. Ethereum, unfortunately, has a lot of factors that indicate it is more likely that bleaker days are on the horizon rather than a growth period. We will get into those factors later on in this piece.
It is not all doom and gloom for the market. Experts have turned their focus toward Bitcoin Minetrix (BTCMTX), Meme Kombat ($MK), and $TG.Casino ($TGC). All three projects are going through their presale stage, but excitement is really building about their potential.
Let’s take a look at what makes them potential assets for crypto investors.
Bitcoin Minetrix- This project will solve a problem that plagues Bitcoin mining
For years now, crypto lovers who are interested in Bitcoin mining have been complaining about the state of the industry. Originally mining was decentralized, but now it is done at such a large scale only the elite can afford to partake. Cloud mining was supposed to be the solution to this but is now plagued with its own issues. Thankfully Bitcoin Minetrix (BTCMTX) is about to provide us with a solution.
First, what is the issue? Well, as we said, cloud mining was originally supposed to be a solution. The idea was individuals who wished to mine for Bitcoin could enter into cash contracts with companies that had mining equipment. The individual would then get a share of the yields. However, the big are taking advantage of the small again, and the fees charged are much too high. The market is also rife with scammers.
The solution? Stake-to-mine. Bitcoin Minetrix believes in putting the power back in the individual’s hands. The process is fairly simple. Investors will stake their coins, and from here, only if they wish, they can exchange staked tokens for mining credits. These are ERC-20 tokens that can only be used to pay for mining time or to gain a share of mining yields. No hidden fees, no scams, just a straightforward way for the everyday investor to mine.
Meme Kombat- Win big playing what could be the biggest P2E game of 2023
The presale of Meme Kombat ($MK) is really just beginning, but already $500k has been raised. We think investors are realizing that this could be the biggest P2E game of 2023. As many of you have already guessed, the game takes inspiration from the cult classic combat franchise: Mortal Kombat. However, instead of characters from the game, players will battle with their favourite memes from the last 10 years.
Doge, Pepe, Wojak, they’re all in the game. What veteran blockchain gamers will love is the incorporation of AI into the game. This will provide players with a sophisticated gaming experience with state-of-the-art graphics. AI will also be used to determine the results of the battles in the game which is very important due to the wagering factor.
That’s right, players can win big by wagering on the battles in the game. The betting side of the ecosystem is so sophisticated you will feel like you are in Vegas. Players can bet against each other in the battle arena vs the computer or even side bet on other markets like the first move, specific outcomes, or unique battle events. It is no wonder that experts think it will provide gains once listings begin.
TG.Casino- A crucial partnership could catapult this crypto casino into the mainstream
The crypto casino industry is growing at a very impressive rate but still remains a niche industry. Of course, a lot of this has to do with how many people actually hold crypto. We think TG.Casino could be one of the first crypto casinos to break into the mainstream.
The main reason for this is its partnership with Telegram. Anybody with the app will now be able to access the casino which gives TG.Casino a huge target audience and makes it an official Telegram casino. Mainstream gamblers will be reassured of any concerns they have with crypto casinos once they see they have partnered with an app that is famous for its high levels of security and user protection software.
TG.Casino also has a clear motto of giving back to their loyal investors and players. 30% of the total allocation of coins will be dedicated to staking and player rewards. Also, the casino will use a share of its profits every day to purchase open market $TGC. 40% of these coins will be burned which is great news for anyone who has staked tokens, the other 60% will go towards loyalty bonuses and other casino rewards for players.
Ethereum- Things are not looking too good for the number-one altcoin
The crypto market as a whole has taken a dip this week due to the Israel-Palestine conflict. Most coins have suffered, however, there are other factors at play that indicate that Ethereum (ETH) has very little chance of hitting $2,000 before 2023. The issues in the Middle East look like they will not be solved anytime soon but ETH also has to deal with issues close to home.
Last week Ethereum’s average 7-day transaction fees was down to $1.80, compared to $4.70 just two months ago. Then there are more macro problems like the fact Google searches for Ethereum are at a three-year low, which indicates the interest in the altcoin just isn’t there at the moment.
Perhaps most worrying of all is Ethereum co-founder Charles Hoskinson adding fuel to the ETHgate conspiracy theory fire by saying ETH not being classified wasn’t corruption but ‘favoritism’. He has now been criticized for his remarks by others involved in altcoins like Ripple CTO David Schwartz. All-in-all, it is not looking good for Ethereum.
So we think you will all be pretty clear on where you should be looking for new investments after reading the above. Ethereum and other altcoins are stay-aways for now while the presale market is thriving. The three coins we have analyzed above are the expert’s favourites for a reason. They all have unique properties that should see them succeed once listings begin.