Exclusive Report Finds 53.7% of Investors Prefer Memecoins to Bitcoin, According to AMBCrypto

  • Investors are showing a strong preference for Bitcoin NFTs over Ethereum NFTs.
  • Expect a surge in the price of Ethereum soon, thanks to decreased exchange inflows.

The recent approval of Spot Ether ETFs on 23 May had many investors eagerly anticipating a positive market response. However, contrary to expectations, ETH experienced a 4% decline within just 24 hours, with Bitcoin following suit.

Currently, analysts are split in their predictions for Bitcoin’s next move, with some foreseeing a possible significant correction while others are optimistic about a bullish trend.

A recent survey by AMBCrypto revealed that a staggering 67.3% of investors believe that the king coin will increase by 80% by the end of this year.

Based on our analysis, Bitcoin seems to be gearing up for a notable upward trend. The May 2024 report from AMBCrypto highlights the top four reasons supporting this bullish outlook.

Exciting insights from AMBCrypto’s survey

After engaging with over 550 crypto enthusiasts worldwide, we found a growing interest among investors in memecoins compared to Bitcoin, with 53.7% indicating a preference for memecoins in their portfolios.

Surprisingly, nearly 60% of respondents expressed a desire to invest in Bitcoin NFTs instead of Ethereum NFTs, underscoring the rising demand for Bitcoin’s layer 2 solutions.

AMBCrypto’s Crypto Market Report for May 2024 delves into the survey results, providing exclusive insights for traders and investors.

Layer 3 Emerging as a Key Focus in May

Our analysis indicates that Layer 3 has emerged as a rapidly growing narrative over the past month, poised to capture a larger market share in the near future.

The adoption of Layer 3 technologies has been particularly strong in the Eastern regions compared to the West, where countries like the U.S. and the UK are currently focused on Layer 2 solutions. This presents a significant growth opportunity for Layer 3 projects.

If the adoption of Layer 3 accelerates, the Ethereum blockchain stands to benefit the most. AMBCrypto’s May report offers detailed insights into the potential impact of this trend.

Additionally, Ethereum has seen a notable decrease in exchange inflows after 21 May, indicating a potential price increase in the near future.

Source: Santiment

Discover AMBCrypto’s Report for May 2024

This report unveils the rapidly evolving crypto trends, surprising data points, and exclusive insights. Dive into key topics such as:

  • What to expect for Bitcoin in June and beyond
  • The growing significance of Layer 3 and its potential impact on Web 3
  • The surge of SocialFi projects and their current popularity
  • An analysis of leading altcoins and their future trajectory
  • The changing correlation between Ethereum and Bitcoin
  • The dwindling volume in the NFT market – Is there hope for a revival?

You can access the full report here for more in-depth information.

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