All articles tagged with #capital rotation
Memecoins are losing momentum as smart money shifts towards utility tokens, with notable outflows from memecoin holdings and increased interest in utility-driven projects like Solana and Ethereum. The recent surge in memecoin market cap is fading, and projects attempting to evolve beyond meme status face challenges in attracting serious VC backing, indicating a potential decline in memecoin popularity.
Ether (ETH) reached an eight-month high of $1,873, outperforming Bitcoin (BTC) as Nasdaq futures rose to an eight-month high, offering bullish cues to risk assets, including cryptocurrencies. The ether-bitcoin ratio rose over 1% to 0.066, taking back a small portion of the 7% decline seen last month. Ether's outperformance comes as the highly anticipated Shanghai upgrade is now less than two weeks away, which has been widely hailed as a long-term bullish catalyst for ether and liquid staking tokens.