Ethereum Price Surge Has Investors Buying New Trending ETH Token And XRP As Price Surpasses $1.5 Mark

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The post Ethereum Price Surge Has Investors Buying New Trending ETH Token And XRP As Price Surpasses $1.5 Mark appeared first on Coinpedia Fintech News

Ethereum’s price movements have been lackluster in this bull market, but analysts believe that the largest altcoin will reward the patience of its investors before the end of the year. This has fueled interest in ERC-20 tokens, including Yeti Ouro, a new Ethereum-based utility memecoin, whose presale has attracted investors seeking the next Dogecoin rival.

When Will Ethereum Soar?

Ethereum has been on the receiving end of mocking by some crypto industry leaders for failing to rally alongside its peers, who have been hitting new highs. Bitcoin set a new all-time high (ATH) just last week and is knocking on the door of $100,000. Solana also set a new ATH this past week at $263, riding on the ongoing crypto euphoria. SUI, Pepe, Bonk, and Mantra are the other top 50 coins that have hit new ATHs this month.

In contrast, Ethereum’s highest price was $3,485, which was still 30% below its ATH of $4,860, which it hit in November 2021. According to cryptocurrency asset management firm 21.co, the ETFs that launched mid-year could have played a part in its slow growth due to their lack of optimum timing. The firm also believes that the rise of Solana has taken the shine away from Ethereum. Solana is now competing fiercely in sectors such as memecoins and DeFi with Ethereum and has even toppled the more established network on some metrics.

However, analysts believe that the largest altcoin will surge in the near future. This price rally will reignite interest in Ethereum-based tokens, better known as ERC-20 tokens.

Yeti Ouro Emerges As An Investor Favorite

Yeti Ouro is one of the ERC-20 projects that’s receiving high interest as investors position themselves to capitalize on the looming Ethereum turnaround.

Yeti Ouro is built on Ethereum and centers around Yeti Go, a new play-to-earn game that merges the fun and thrill of crypto and meme culture with the reward of P2E gaming. Players compete on a race track, where the goal is to outwit the opponents, dodge hazards and get an edge by attacking rivals and pushing them off-track. Winners are rewarded in YETIO, the native token of the ecosystem.

In the ongoing first phase of the presale, Yeti Ouro has raised over $500,000 from investors, who have snapped up over 44 million tokens. The Yeti Ouro team reignited interest in the presale by releasing a new video that looks into the intrigues of developing the game, including the hard work, dedication and passion that have gone into building it.

YETIO’s appeal lies in its utility, being the token that Yeti Go winners receive as the reward. Players also pay with YETIO to join the races and purchase weapons and other extra customizations with the token. Holders can also stake their tokens to unlock exclusive features. The token’s supply is capped at one billion tokens, unlike most memecoins that have trillions of tokens, which limits their upside. Additionally, 5% of the supply is allocated to the token-burning mechanism, making YETIO deflationary and boosting its long-term price prospects.

Conclusion

With Ethereum set to awaken before the end of the year, investors are exploring ERC-20 tokens again, and Yeti Ouro, with its utility and deflationary supply, is topping the charts for the best new token to invest in.

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