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Ethereum has made an underwhelming start to August, with ETH price dipping below the $1,850 support level on Wednesday. Ethereum now potentially faces more August headwinds amid mystery whale inflows into exchanges and a decline in ETH 2.0 staking.

Heading into August 2023, Ethereum price action has left much to desire for bullish ETH holders. Barely three days into the month, ETH price is already down 2%, losing the critical $1,850 support.

On-chain analysis reveals critical bearish indicators that could see ETH face turbulent headwinds in August.

According to Whale-Alert.io an on-chain tracker tool that reports notable large transactions, a mystery ETH whale has been making some potential bearish moves.

On August 2, an unknown whale was spotted moving 19,789 ETH worth $36.4 million into a Coinbase exchange wallet.

A deeper inquest into the unknown whales recent transactions via Arkham Intelligence reveals a more worrying trend. Two weeks ago, the whales had moved $37 million worth of ETH to Coinbase, split across 10 separate transactions.

Notably, Coinbase currently offers an estimated APY rate of 4.95% on Ethereum staking. Optimistic Ethereum investors suggested that the whale could be looking to take advantage of the prime passive income opportunity.

However, the initial market reaction did not reflect that bullish sentiment. Instead, barely 24 hours after the transaction was confirmed, ETH price slid from $1,870 to around $1,830.

If the optimistic investors begin to panic, ETH could face more turbulent August headwinds.

In validation of the bearish outlook, on-chain data reveals that ETH 2.0 Staking inflows have dropped significantly this week. According to Cryptoquant, ETH Staking Inflow data has declined considerably compared to the figures recorded at the end of July.

As depicted below, Ethereum Staking inflow stood at 141,600 on July 28. At the close of August 2, only 27,648 ETH were deposited into ETH 2.0 staking contracts.

Staking Inflow data tracks the daily volume of ETH coins deposited into ETH 2.0 staking smart contracts. Ideally, when staking rises, it boosts investor confidence and reinforces the security architecture of the blockchain network.

When the rate of staking declines, as observed above, it signals that investors are now optimizing for short-term plays rather than holding out for future gains.

Combined with whales moving funds into exchanges, the staking inflow decline could result in more August headwinds for ETH.

Considering the bearish indicators identified above, ETH bears appear to be eyeing a drastic reversal toward $1,750. Having lost the critical 1,850 support level, the chart below shows that ETH could see a continued downtrend below $1,750.

However,the bears could have difficulty penetrating the psychological support level to around $1,800. At that zone, 2.94 million addresses have acquired 5.78 million ETH at the average price of $1,804.

If that support cannot hold, bears could push Ethereums price toward $1,750.

Still, if the whales begin to stake again, it could trigger a rebound toward $1,900. Although, 5.23 million holders that bought 10.77 million ETH at the average price of $1,864 could pose significant resistance.

Nevertheless, ETH could reclaim the $1,900 milestone if the bulls can overturn that resistance level.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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Ethereum Faces August Headwinds as Bearish Whales Emerge - BeInCrypto

Buenos Aires is gearing up to host Ethereum Argentina, the most critical technology event in the region that will bring together over 4,000 blockchain enthusiasts and experts. The Buildathon will take place on August 16 and 17, and the leading conference will be held on August 18 and 19, aiming to exchange knowledge and develop projects that address fundamental challenges in Latin America.

The stakeholders include users, educators, students, entrepreneurs, and developers, all with the common interest of exploring the transformative potential of Ethereum and blockchain technology. Organizers, industry leaders, and the government also support the event.

Argentina is among the top 20 countries in cryptocurrency adoption and is home to renowned projects such as Decentraland and Open Zeppelin. Recently, Ripio launched UXD, the first Latin American stablecoin tied to the US dollar, to offer Argentines an option to combat the inflation the southern cone country is experiencing.

Ethereum Argentina offers mentoring opportunities in product development, business models, and design, and more than 500 people are expected to participate in the Buildathon. The leading conference will include talks, workshops, and networking opportunities in Spanish and English.

This event strengthens Argentinas position as a blockchain technology hub and draws the attention of investors looking for opportunities in a region with a growing tech ecosystem. The southern cone country where most people talk about cryptocurrencies and wallets (virtual wallets), 33% of its population shares topics about this type of currency on social networks, followed by Brazil with 26% and Mexico with 24%.

Will Argentina continue to bet on cryptocurrencies? According to data from Coinfirm, between July 2021 and June 2022, LATAM received USD $562 billion in cryptocurrencies, representing a 40% year-on-year growth. These figures position Latin America as the seventh-largest cryptocurrency market globally.

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Ethereum Argentina: Key Blockchain Event to Innovate and Solve ... - Contxto

In the realm of cryptocurrencies, Ethereum (ETH) stands tall as the ultimate passive income infrastructure. With its robust blockchain and vibrant ecosystem, Ethereum has become a favored platform for new projects seeking to offer passive income opportunities.

This article delves into the world of Ethereum, shedding light on its ecosystems role in enabling passive income rewards through the likes of BEASTS Coin (BEASTS), Uniswaps (UNI) liquidity-providing, and lending on DeFi protocols like Aave (AAVE)!

Uniswap (UNI) takes center stage as a pioneering decentralized exchange (DEX) that has revolutionized the crypto landscape. Unlike traditional exchanges that rely on order books, Uniswap leverages automated market-making algorithms and liquidity pools. This unique approach eliminates the need for intermediaries, offering faster, more cost-effective, and highly efficient trading experiences.

Uniswaps key strengths lie in its simplicity and accessibility. By becoming a liquidity provider on Uniswap, individuals can contribute their tokens to liquidity pools, earning passive income in return. As these liquidity pools facilitate trades and generate transaction fees, providers are rewarded with a share of those fees, creating a potential avenue for passive income generation.

Enter the world of Aave (AAVE), a leading decentralized lending protocol within the Ethereum ecosystem. Aave offers users the opportunity to earn passive income by lending their digital assets to borrowers on the platform. By depositing funds into Aaves lending pools, individuals can earn interest on their holdings, creating a consistent and passive income stream.

Aaves strengths lie in its extensive range of supported assets, transparency, and robust security measures. Users have the flexibility to lend a wide variety of tokens and enjoy competitive interest rates based on supply and demand dynamics. Furthermore, Aaves protocol is built with a strong focus on security, ensuring that users funds are protected against potential vulnerabilities.

Introducing BEASTS Coin (BEASTS), an exciting new meme coin built on the Ethereum blockchain. BEASTS Coin intertwines science fiction with the world of cryptocurrencies, immersing investors in a captivating narrative. In this storyline, the enigmatic mastermind, Dr. Jekyll, unleashes genetically mutated animals known as Caged Beasts, challenging the oppressive dominance of humanity. By engaging with BEASTS Coin, investors become part of this immersive storyline, blurring the boundaries between fiction and reality.

BEASTS Coin also offers a unique twist to traditional exchange referral programs. Through the Caged Beasts Coin referral system, users can access an array of referral codes that can be generated infinitely. This opens the door to earning an instant 20% commission of USDT, ETH, or BNB on referral rewards! Both the provider and recipient of the code benefit from a 20% gain, making it the ultimate win-win situation!

The world of cryptocurrencies is evolving, and Ethereums ecosystem has emerged as a hotbed for passive income opportunities. Uniswaps innovative approach to decentralized trading and liquidity provision, along with Aaves empowering lending protocols, offer investors exciting avenues for passive income generation.

Additionally, BEASTS Coin introduces a fresh and captivating narrative, engaging users in a unique meme coin experience. As the crypto market continues to evolve, embracing these opportunities can be both financially rewarding and exhilarating. Embrace the future of passive income with Ethereum at the helm.

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Passive Income in Crypto: Exploring Ethereum's Potential with ... - Analytics Insight

In a recent flurry of significant digital asset transfers, Ethereum (ETH) investors with considerable financial reserves, colloquially known as whales, have moved approximately $140 million of the cryptocurrency into leading exchanges such as Coinbase, Kraken, and OKX.

According to data from the Ethereum blockchain, first reported n by whale monitoring service Whale Alert, underscores a trend among notable ETH investors, with several transactions worth millions of dollars moving to exchanges after the supply of the second-largest digital asset by market capitalization fell on exchanges in June.

One transaction involved a transfer of 20,000 ETH (valued at just over $38 million) from Arbitrum (ARB), a layer-2 scaling solution, to the popular San Francisco-based digital asset exchange, Kraken.

In another striking move, a transaction amounting to $48.3 million (equivalent to 25,264 ETH) was sent from an unidentified wallet to Coinbase, the largest cryptocurrency exchange platform in the U.S. based on transaction volume.

On top of that, another cryptocurrency whale moved 30,000 ETH (worth nearly $57.7 million) to OKX, a Seychelles-registered digital currency exchange. Notably, these large transactions come as major financial powerhouses that collectively manage an astounding $27 trillion in assets are making inroads into the world of Bitcoin and cryptocurrency after a race to list the first spot Bitcoin exchange-traded fund (ETF) in the United States kicked off.

A recent report from Goldman Sachs citing on-chain data, the supply of the largest cryptocurrency by market capitalization, Bitcoin, tumbled on exchanges by 4%, approaching levels recorded in December 2022. This was the lowest level witnessed since November 2020, immediately prior to the 2021 bull market.

Goldman Sachs report also noted that Ethers supply on exchanges dropped by 5.8%, reaching a level that hasnt been seen since May 2018. This propensity towards self custody is propelled by a convergence of factors, the banking giant stated. These include spot exchanges facing regulatory headwinds, and cyber hacks and theft remaining a concern.

For Ether specifically, Ether staked Ether withdrawals have resulted in investors preference to stake ether, instead of passively holding on exchanges.

Featured image via Unsplash.

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Ethereum ($ETH) Whales Move $140 Million to Crypto Exchanges - CryptoGlobe

3D Rendering 4K Ethereum Close Up

The cryptocurrency market is constantly evolving, with investors seeking new opportunities that offer groundbreaking innovation and potential for significant returns. As investors look to reallocate their funds, one token that has captured their attention is InQubeta (QUBE). Lets delve into the features and potential of InQubetas platform, highlighting why it is positioned to outperform Ethereum (ETH) and become a must-have asset in every investors portfolio.

InQubeta is an AI-focused cryptocurrency that leverages blockchain technology to revolutionize the AI industry. With its unique approach, InQubeta aims to connect investors with the most promising AI startups and projects, fostering growth and innovation in this rapidly expanding field. By providing a fair and transparent system for reviewing startup applications, InQubeta ensures that only the best projects receive funding, creating a community-driven ecosystem of excellence.

One key advantage that sets InQubeta apart from Ethereum is its laser focus on AI. While Ethereum is a general-purpose blockchain platform that hosts a wide range of applications, InQubeta specializes in providing AI startups with the necessary resources and support to thrive. This targeted approach allows InQubeta to tap into the immense potential of the AI industry, which is projected to reshape various sectors, including healthcare, finance, and technology.

InQubeta introduces a unique crowdfunding mechanism using fractionalized non-fungible tokens (NFTs). This groundbreaking approach allows investors to participate in the success of AI startups by owning fractional shares of their NFTs. By fractionalizing ownership, InQubeta enhances liquidity and accessibility, enabling investors of all sizes to engage in the AI market. This innovation benefits investors and provides AI startups with an alternative fundraising avenue, facilitating their growth and development.

InQubeta prioritizes security and trust to provide a safe environment for investors and startups alike. The platform has undergone rigorous auditing by leading smart contract auditing firms, Hacken and Block Audit, ensuring that the system is free from vulnerabilities and susceptible to hacks. This commitment to security instills confidence in users, mitigating risks associated with the investment and utilization of the platform.

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As the AI industry continues to expand, InQubeta is well-positioned to experience substantial growth in the long term. The ongoing presale has been a success, with more than $900,000 raised so far, and theres an expectation that it could surpass $1 million in the coming weeks.

With its specialized focus on AI startups, the platform attracts both investors seeking exposure to this emerging market and innovative entrepreneurs looking for funding and support. This symbiotic relationship creates a vibrant ecosystem that fuels the development of groundbreaking AI solutions, further increasing the value and potential of InQubeta.

InQubetas unique combination of AI and blockchain technology positions it as a strong contender to outperform Ethereum and become a top cryptocurrency investment. The platforms laser focus on the AI industry, its fractionalized NFT crowdfunding mechanism, and its commitment to security and trust make it an attractive choice for investors seeking exposure to the potential of AI innovation. As the AI industry continues to flourish, InQubeta is poised to play a vital role in shaping its future, making it a must-have asset in every investors portfolio.

Visit InQubeta Presale

Crypto News Flash Disclaimer: This publication is sponsored. Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should conduct their own research before taking any actions related to the company. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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InQubeta (QUBE) On Track To Show Better Returns Than Ethereum ... - Crypto News Flash