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Here’s Why Ethereum Price May Pump to $1,300 – But Tamadoge Is a More Profitable Alternative

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Current market turmoil has had a significant impact on Ethereum (ETH). After a downtrend of 19.59% in the past week, ETH is trading at $1,260, a price pump of 1.23% in the last 24 hours.

The asset has strong fundamentals that could support a price increase, but TAMA may be an even ideal asset for value-seeking investors.

FTX Bankruptcy Affects Crypto Prices

So far, the biggest market driver is the recent bankruptcy of the cryptocurrency exchange FTX. FTX, once a market giant and the second-largest exchange, collapsed last week following revelations that the company had been significantly underreporting its liabilities, particularly in relation to sister trading firm Alameda Research.

Following a massive bank run, FTX became insolvent. After rival exchange Binance backed out of a last-minute deal to bail the company out, FTX and its subsidiaries filed for bankruptcy.

Things have only gotten worse, as over $400 million was siphoned from FTX over the weekend. While the company has reportedly blamed it on a hack, word on the street is that company executives had drained the wallets and made a run for it. Considering that these executives have also gone under the radar, there is a sense that the fallout isn’t over.

Crypto prices tumbled as a result of FTX’s woes. And as expected, Ethereum has been one of the most affected digital assets.

ETH Becomes Deflationary & Inflation Softens

Despite the price drop, there is a sense that ETH could soon surge once more. Investors would continue to watch out for more FTX fallout, but ETH investors were recently relieved when it was announced that the asset had become deflationary.

As of last week, data from ultrasound money confirmed that the net issuance of ETH dropped to 0.029%, the first time since Ethereum’s Merge. This indicated that ETH is now burning more tokens than being minted.

The negative inflation rate means that the net supply of ETH has dropped by over 5,000 since the Merge was completed. Without the Merge, the asset’s supply would have jumped by over 650,000.

A deflationary token structure means that ETH has stronger tokenomics, a major indicator of bullish sentiment going forward.

Investors will also be relieved to learn that inflation in the United States has started to ease. Last week, data from the Federal Reserve confirmed that the October consumer price index (CPI) jumped by 0.4%. Markets rallied on the news, and investors are expected to increase their exposure to riskier assets in the coming days as they anticipate less aggressive interest rate policies from the Fed.

TAMA – An Upcoming Asset At Fair Value

As investors continue to watch ETH’s price in anticipation of gains, another crypto asset that has drawn much interest is TAMA – the native token for Tamadoge.

Buy Tamadoge

Tamadoge is a new blockchain game that uses non-fungible tokens (NFTs) bought and owned by players. These pets are groomed and used to battle, with players earning TAMA tokens in return for their activity. The asset had an impressive presale and is now available for investors.

Last week, TAMA was listed on Gate.io, one of the largest exchanges in the market at the moment. The listing should give the asset more investor exposure and liquidity, supporting a price surge soon. Buy TAMA on Presale.

D2T – Another Valuable Asset

D2T is another token that investors should consider. It powers Dash 2 Trade – a new research platform that allows investors in the crypto market to enjoy optimal insights that can help them refine their trades. Dash 2 Trade offers traders the ability to build their trading strategies, ensuring they can easily profit from the market without much experience.

D2T is now available in presale and has thus far raised over $5.5 million. The asset’s developers have secured partnerships with exchanges like LBank and BitMart to list it once the presale is over. Hence, it is a solid investment for anyone looking to make money amid the market downturn. Buy D2T on Presale.

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