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Ethereum retakes 10% market share, but ETH bulls shouldn't celebrate yet
Key takeaways:Ethereum’s market dominance has hit overbought RSI levels not seen since May 2021, historically followed by major pullbacks.ETH/USD is showing a bearish divergence on the four-hour chart, hinting at a potential 10–15% price correction.Despite the near-term risks, some analysts view a pullback as a “buy-the-dip” setup before a possible move toward $3,500–$3,800.Ether (ETH) has surged over 50% month-to-date in May, vastly outperforming the broader crypto market’s 15.25% gain. The rally has pushed Ethereum’s market dominance (ETH.D) toward the critical 10% threshold for the first time since March.But the rising dominance accompanies signs of overheating, indicating that Ethereum bulls should not celebrate the rally just yet.Ether’s RSI most overextended since May 2021The strong recovery in Ethereum’s crypto market share has pushed its daily relative strength index (RSI) to its most overbought zone since May 2021, raising red flags for traders betting on further upside, at least in the short term. Historically, such extreme RSI levels on ETH.D have marked the beginning of major pullbacks. One notable instance occurred in early July 2024, when ETH dominance peaked near similar RSI levels. ETH.D daily performance chart. Source: TradingView Over the following 315 days, ETH.D dropped by more than 17.5%. The current RSI spike, again above 80, mimics a similar setup, suggesting that Ethereum could be nearing a local top in its market share.Adding to the bearish outlook, ETH.D remains below its 200-day exponential moving average (200-day EMA; the blue wave). This resistance level has repeatedly capped Ethereum’s dominance during previous recovery attempts.Previous overbought pullbacks have initially pushed Ethereum’s market share toward its 50-day EMA (the red wave).The ETH.D metric, therefore, risks declining toward its current 50-day EMA support at around 8.24% by June, suggesting potential capital rotation out of Ethereum markets to other coins in the coming weeks.Bearish divergence signals 15% ETH price dropOn the four-hour ETH/USD chart, a classic bearish divergence is emerging, where Ethereum’s price continues to print higher highs, but momentum indicators trend lower. Crypto trader AlphaBTC noted that ETH is showing “three clear drives of divergence,” a setup often preceding trend exhaustion. He added that key Fibonacci levels align with potential support zones, suggesting a pullback could be imminent.ETH/USD four-hour price chart. Source: AlphaBTCWith ETH hovering near the $2,740 Fibonacci extension, profit-taking pressure may intensify, opening the door for a short-term correction toward lower Fib levels at around $2,330 or even $2,190, down 10%-15% from the current prices.Independent market analyst Michaël van de Poppe suggests ETH’s decline in the coming weeks could serve as a “buy-the-dip opportunity,” indicating that the cryptocurrency would eventually climb over $3,500. Related: Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is hereVeteran trader Peter Brandt further predicts a “moon shot” rally to over $3,800.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 4 hours ago
SEC delays Solana ETF as decisions for Polkadot, XRP loom
The US Securities and Exchange Commission (SEC) has pushed back its decision on a proposed spot Solana exchange-traded fund (ETF), with the cryptocurrency industry now looking to the deadlines for the Polkadot and XRP-based ETFs in June.The SEC pushed its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, according to a May 13 filing by the securities regulator.Delay on Grayscale’s Solana ETF. Source: SECThe decision came the week after the SEC delayed its ruling on Canary Capital’s Litecoin (LTC) ETF, Bloomberg Intelligence analyst James Seyffart wrote in a May 5 X post.Source: James SeyffartSpot ETFs are viewed as key drivers of liquidity and institutional adoption for digital assets. For Bitcoin (BTC), the US spot Bitcoin ETFs accounted for an estimated 75% of new investment after launching, which helped BTC recapture the $50,000 mark in February 2024, a month after the ETFs debuted for trading.While a Solana ETF may generate only a fraction of the inflows of Bitcoin ETFs, it could increase Solana’s institutional adoption in the long term by offering investors a “regulated investment vehicle” that may still attract billions of dollars in capital, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.Related: Solana co-founder proposes meta chain to fix blockchain fragmentationDespite the latest delay by the SEC, the majority of investors are optimistic about the approval of a SOL ETF before the end of 2025.Odds of a Solana ETF approved by Dec. 31, 2025. Source: PolymarketInvestors are predicting an 82% chance for a SOL ETF approval and an 80% chance for a Litecoin ETF approval before the end of the year, according to data from Polymarket, the largest decentralized betting platform.Related: $1B Bitcoin exits Coinbase in a day as analysts warn of supply shockPolkadot, XRP, DOGE ETFs await SEC decision in JuneSeveral other crypto ETF applications are approaching SEC deadlines in June. The SEC will decide on Grayscale’s Polkadot (DOT) ETF by June 11, and 21Shares’ Polkadot ETF on June 24, according to a court filing from the SEC.On June 17, the SEC is set to make a decision on Franklin Templeton’s spot XRP (XRP) ETF and Bitwise’s spot Dogecoin (DOGE) ETF, official filings show.However, those decisions may also be delayed. The SEC typically takes full advantage of its 240-day review period when evaluating crypto-related financial products, as seen in its handling of the Bitcoin and Ether (ETH) ETF applications in 2023 and 2024. Magazine: Metric signals $250K Bitcoin is ‘best case,’ SOL, HYPE tipped for gains: Trade Secrets
Published: 7 hours ago
Solana co-founder proposes meta chain to fix blockchain fragmentation
Solana Labs co-founder Anatoly Yakovenko proposed a new data availability (DA) solution to improve persistent fragmentation and lack of interoperability across blockchain networks.In a May 12 post on X, Yakovenko proposed a “meta blockchain” to aggregate and order data posted across multiple layer-1 chains, including Ethereum, Celestia and Solana.“This would actually allow the meta chain to use the cheapest currently available DA offer,” Yakovenko said. Data availability layers are third-party solutions ensuring that blockchains have the necessary data to validate transactions.Source: Anatoly YakovenkoBlockchain interoperability is one of the most pressing issues for Web3 developers, since today’s siloed layer-1 (L1) blockchain networks have no means of communicating or exchanging data, creating a need for crosschain interoperability solutions like DA layers.Other leading blockchains are also focused on improving DA solutions. Ethereum’s upcoming Fusaka upgrade, expected in late 2025, will focus on scaling the Ethereum mainnet’s capacity as a DA layer by introducing EIP-7594.Ethereum data capacity upgrades. Source: Binance ResearchThis upgrade may boost Ethereum’s value accrual, depending on whether existing layer-2 blockchains continue choosing Ethereum for data availability in the future, a Binance Research spokesperson told Cointelegraph.Related: Nasdaq-listed GDC plans to buy Bitcoin and TRUMP memecoin for $300MMaking data availability cheap makes “everything else cheap”Creating cheaper DA solutions is essential to reduce the costs associated with blockchain-based transactions, Yakovenko said in a response to his initial post, adding:“Making data availability cheap allows for making everything else cheap. Bandwidth is the irreducible bottleneck.”He also suggested that a more advanced solution could eliminate external sequencers by using a rule-based system to merge transactions across chains, allowing users to send transactions “anywhere.”Related: Bunq, Europe’s second-largest neobank, expands into cryptoOther prominent blockchain industry leaders have also called for more interoperability and collaborative tokenomics among the leading blockchains.Speaking at Paris Blockchain Week 2025, Cardano founder Charles Hoskinson emphasized the need for collaborative economics in the crypto industry to counter growing competition from traditional tech firms entering the blockchain space.Charles Hoskinson. Source: Cointelegraph“The problem right now, with the way we’ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. It’s sum 0,” said Hoskinson. “Instead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.”Aiming to align blockchain network incentives, Cardano has been working on “Minotaur,” a multi-resource consensus protocol that combines multiple consensus mechanisms and networks to pay a unified block reward to multiple networks at the same time.Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest
Published: 1 day ago
Price predictions 5/12: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI
Key points:Bitcoin price saw profit booking near $105,819, signaling that bears remain active at higher levels.Select altcoins have continued to move higher, indicating increased investor interest. The SPX and the DXY are playing catch-up to Bitcoin following the US-China trade deal.Bitcoin (BTC) has started the new week on a cautious note, falling below $103,000, but the S&P 500 Index (SPX) and the US Dollar Index (DXY) have risen sharply following the announcement of the US-China trade agreement. One of the reasons could be that other assets are trying to play catch up with Bitcoin, and the sharp rally in the US dollar may be acting as headwinds for Bitcoin in the near term.Bitwise European Head of Research André Dragosch said in a post on X that the firm’s proprietary indicator has reached its highest level since 2024. Historically, high levels of the indicator have resulted in a short-term correction or sideways price action.Crypto market data daily view. Source: Coin360The short-term uncertainty has not stopped the long-term bulls from adding more Bitcoin to their portfolio. Michael Saylor’s Strategy acquired 13,390 Bitcoin at an average price of $99,856 between May 5 and May 11. The latest purchase has boosted the firm's haul to 568,840 Bitcoin.What are the crucial support levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.S&P 500 Index price predictionThe S&P 500 Index gapped up sharply on May 12 and rose above the stiff overhead resistance at 5,800.SPX daily chart. Source: Cointelegraph/TradingViewTime is running out for the bears. If they want to prevent the upside, they will have to fiercely defend the 5,800 level and quickly drag the price below the 20-day exponential moving average (5,570). If they manage to do that, the index could start a deeper correction toward 5,400.Instead, if the price closes above 5,800, the up move may continue toward the 6,000 level. There could be a minor halt at 6,000, but if the bulls prevail, the index could retest the all-time high at 6,147.US Dollar Index price predictionThe US Dollar Index pierced the 20-day EMA (100.42) on May 8, indicating that the bears are losing their grip.DXY daily chart. Source: Cointelegraph/TradingViewSellers tried to pull the price back below the 20-day EMA on May 9, but the bulls held their ground. The index has reached the 50-day simple moving average (102.08), which is expected to behave as a resistance. If the price turns down from the 50-day SMA but finds support at the 20-day EMA, it suggests a positive sentiment. That increases the likelihood of a rally to 103.54 and thereafter to 104.68.Bitcoin price predictionBitcoin has turned down from $105,819, indicating that the bears are defending the $107,000 to $109,588 zone.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe first support on the downside is the $100,000 level, and below that, the 20-day EMA ($97,238). If the price rebounds off the support zone, the bulls will again try to kick the BTC/USDT pair above $109,588. If they can pull it off, the pair could ascend to $130,000.Conversely, if the price turns down and breaks below the 20-day EMA, it signals that buyers are booking profits at higher levels. That opens the doors for a fall to $93,000 and then to the 50-day SMA ($89,302).Ether price predictionEther (ETH) bulls are trying to sustain the price above $2,550, but the bears have kept up the selling pressure.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf the price skids below $2,435, the ETH/USDT pair may fall to $2,320. If the price rebounds off $2,320, the bulls will try to resume the up move. There is resistance at $2,850, but if it is crossed, the pair could reach $3,000.Contrary to this assumption, if the price turns down and breaks below $2,320, it suggests that the bulls are booking profits. The pair may drop to the breakout level of $2,111, which is likely to act as support.XRP price predictionXRP (XRP) broke above the resistance line on May 10, and the bulls successfully held the retest of the breakout level on May 11.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls have strengthened their position by pushing the price above the $2.50 resistance. There is minor resistance at $2.65, but if the level is scaled, the rally could reach $3. Such a move signals a potential trend change.Alternatively, if the price turns down sharply from $2.65 and breaks below the 20-day EMA ($2.27), it signals a possible range formation in the near term. The XRP/USDT pair could swing between $2 and $2.65 for some time.BNB price predictionBNB (BNB) turned down from $679 on May 10 but rebounded off the breakout level of $644 on May 12.BNB/USDT daily chart. Source: Cointelegraph/TradingViewBuyers tried to resume the up move, but the long wick on the candlestick shows selling near the $700 level. If the price stays above $644, the bulls will make another attempt to propel the BNB/USDT pair to $745.Sellers will have to pull the price below $644 to weaken the bulls. The pair could then fall to the 20-day EMA ($621). Buyers are expected to defend the 20-day EMA because a break below it could tilt the advantage in favor of the bears.Solana price predictionSolana’s (SOL) up move has stalled near the $180 resistance, but a positive sign is that the bulls have not given up much ground to the bears. SOL/USDT daily chart. Source: Cointelegraph/TradingViewA shallow pullback increases the possibility of the continuation of the rally. If buyers drive the price above $180, the SOL/USDT pair could rally to $210.The immediate support on the downside is at $168. If the price slides below $168, the pair could descend to the 20-day EMA ($155). A solid rebound off the 20-day EMA suggests the bulls remain in control. That increases the likelihood of a break above $180. Sellers will gain the upper hand on a break below $153.Related: Bitcoin set for $150K BTC price rally as US, China agree to slash tariffsDogecoin price predictionDogecoin (DOGE) turned down from $0.26 on May 11, indicating profit booking by short-term buyers.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls are expected to aggressively defend the breakout level of $0.21. If the price rebounds off $0.21 with strength, it signals that the bulls have flipped the level into support. The DOGE/USDT pair could then climb to $0.31.On the contrary, a break and close below the $0.21 level suggests that bears remain active at higher levels. The pair could then drop to the moving averages, pointing to a possible range formation between $0.14 and $0.26 in the near term.Cardano price predictionCardano (ADA) is facing resistance near $0.86, but a positive sign is that the bulls have not ceded much ground to the bears.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($0.72) has started to turn up, and the RSI is near the overbought area, indicating an advantage to buyers. If the price rebounds off the neckline, the bulls will try to propel the ADA/USDT pair above $0.856. If they can pull it off, the pair could travel to the target objective of $1.01.If sellers want to prevent the upside, they will have to swiftly yank the price below the moving averages. If they do that, the pair could descend to the solid support at $0.58.Sui price predictionSui (SUI) is facing selling at $4.25, but a positive sign is that the bulls have maintained the price above the breakout level of $3.90.SUI/USDT daily chart. Source: Cointelegraph/TradingViewBoth moving averages are sloping up, and the RSI is near the overbought zone, indicating that the path of least resistance is to the upside. If buyers clear the $4.25 level, the SUI/USDT pair could soar to $5.The first sign of weakness will be a break and close below the $3.90 level. That opens the doors for a fall to the 20-day EMA ($3.48). A bounce off the 20-day EMA signals that the positive momentum remains intact. The bulls will then again try to clear the overhead hurdle at $4.25. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 2 days ago
Bitcoin, altcoins poised to rally on US-China tariff agreement
A 90-day tariff agreement between the US and China may set the stage for a broader recovery of stock and cryptocurrency markets, as investors look ahead to a potential tax relief package.The White House announced on May 12 that the two countries will reduce their respective tariffs to 10% for an initial 90-day period beginning May 14 — a 24% cut from current levels. Speaking at a news conference in Geneva, US Treasury Secretary Scott Bessent said both governments are aligned on avoiding further economic decoupling. “The consensus from both delegations is neither side wants to be decoupled,” Bessent said. “What has occurred with these very high tariffs was an equivalent of an embargo, and neither side wants that. We do want trade. We want more balance in trade.”Joint statement on US-China meeting in Geneva. Source: The White HouseRelated: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam BackThe constructive tone of the negotiations, along with the 90-day suspension of additional tariffs, removes the risk of “sudden re-escalation,” which may help altcoins and traditional stock markets follow Bitcoin’s (BTC) price recovery, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.“Bitcoin is already trading close to its all-time highs,” Barthere told Cointelegraph. “However, with the latest easing in trade tensions, it now appears that altcoins, US equities, and the US Dollar Index (DXY) are well-positioned for a catch-up rally.”She noted that Bitcoin has outperformed risk assets in recent months due to its insulation from tariff-related risks.“I also expect the US dollar to perform strongly against prior safe-haven currencies such as the euro, Swiss franc and Japanese yen, reflecting improved global risk sentiment,” Barthere added.Nansen previously predicted a 70% chance for crypto and stocks to find their bottom by June, with their price recovery depending on the outcome of trade negotiations.Related: Bitcoin ETFs, gov’t adoption to drive BTC to $1M by 2029: Finance RedefinedTax relief could amplify rallyBitcoin is currently 4.8% away from recapturing its all-time high of over $109,800 recorded in January 2025, Cointelegraph Markets Pro data shows.BTC/USD, 1-year chart. Source: Cointelegraph“There is potential for risk assets to move beyond the January peak levels if we see a generous tax cut package materialize,” Barthere told Cointelegraph, adding:“This would need to go beyond merely extending the expiring tax cuts, and include additional income tax reductions as well as corporate tax cuts on top.”She noted that Bessent hinted such a package could be unveiled by mid-July, which would act as a “significant additional catalyst” for the markets. The constructive trade negotiations, paired with emerging technical chart patterns, have spurred analyst calls for a Bitcoin rally to $150,000, depending on the outcome of an emerging bull flag pattern on the weekly chart.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Published: 2 days ago
DeGods NFT founder steps down as collection gains traction
The creator of the non-fungible token (NFT) collection DeGods announced that he has stepped down as the CEO of the project amid an uptick in sales. Rohun Vora, known online as “Frank DeGods” on X, said he has stepped down as the project’s CEO, concluding a three-year stint as the head of one of the most popular Solana-based NFT collections. He identified pseudonymous figures 0x_chill and Pastagotsauce as the new leaders of DeGods. “There are no investigations, because I have never done anything illegal. That’s the boring truth,” Vora wrote, addressing speculation about his departure. The announcement came as the NFT collection started gaining traction on the Ethereum and Solana blockchains. Source: FrankdegodsDeGods’ sales are up 101% on SolanaData tracker CryptoSlam shows that in the last seven days, DeGods NFTs have seen a significant increase in sales. On May 12, DeGods on Solana recorded a sales volume of around $458,000, a 101% increase over the previous week. In the last 30 days, the collection had a sales volume of $1.1 million for its NFTs based on the Solana network. On Ethereum, the DeGods collection recorded $104,000 in sales for the past week, a 156% growth over the previous seven days. In the last 30 days, the collection recorded over $250,000 in sales, a 323% increase in sales volumes. Following the announcement, new DeGods project lead Pasta shared plans to release a tribute to the project’s three-year history and teased a shift in strategy.Pasta also hinted that there will be changes in the project’s approach. “Our job isn’t to build crypto products. It’s to make DeGods as big as it can possibly be. That’s what you want. That’s what we want too. So that’s exactly what we’re gonna do,” Pasta wrote. Source: PastagotsauceRelated: Doodles NFT sales surge 97% ahead of DOOD token airdropNFT sales are up by 17% in the last seven daysMeanwhile, the broader NFT market has also gained traction in the last seven days. CryptoSlam data shows that from May 6 to 12, NFTs recorded a sales volume of over $120 million, a 17% increase over the previous week. Magazine: Trump-Biden bet led to obsession with ‘idiotic’ NFTs —Batsoupyum, NFT Collector
Published: 2 days ago
Crypto speculation dominates $600B cross-border payments: BIS report
Hundreds of billions of dollars in cross-border cryptocurrency payments flow globally, driven primarily by speculative investment, according to a recent report by the Bank for International Settlements (BIS).The BIS study, published May 8, found cross-border payments using the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH), and the two largest stablecoins, USDt (USDT) and USDC (USDC), totaled about $600 billion during the second quarter of 2024, the final observation period covered by the analysis.“Our findings highlight speculative motives and global funding conditions as key drivers of native crypto asset flows,” the BIS said.Cross-border crypto asset flows by quarter. Source: BISStill, the report noted that stablecoins and low-value Bitcoin transactions are frequently driven by practical use cases, particularly as alternatives to traditional remittances. The researchers pointed out that geographical barriers have less influence on cryptocurrency transactions compared with traditional financial systems.Related: Spar supermarket in Switzerland starts accepting Bitcoin paymentsSpeculative crypto activity remains tied to “global conditions for funding in major crypto markets,” signaling a growing “interconnectedness” between cryptocurrencies and the legacy financial system, the researchers said, adding:“Concurrently, we observe that tighter global funding conditions, known to curtail risk-taking in traditional asset classes, are associated with reduced flows. This indicates increasing interconnectedness between cryptoassets as speculative assets and mainstream finance.”Additionally, crypto-specific risks and heightened public awareness significantly influence crypto investment flows, reinforcing their role as speculative assets, according to the BIS.The findings were published nearly a month after the BIS warned that the number of investors and amount of capital in crypto and decentralized finance (DeFi) had “reached a critical mass,” posing a threat to financial stability and global wealth inequality, Cointelegraph reported on April 19.Related: $400M Web3 investment fund ABCDE halts new investments, fundraisingStablecoin, low-value Bitcoin payments fueled by fiat inflation, high transfer costsBeyond speculative investment tools, stablecoins and Bitcoin are also used as a “transactional medium.”“Higher opportunity costs of fiat currency usage, such as high inflation, spur bilateral cross-border transactions in both unbacked cryptoassets and stablecoins,” the BIS stated, adding:“Likewise, greater economic activity within both sender and receiver countries is often linked to increased crypto flows in most cases.”High remittance fees charged by traditional financial institutions further bolster crypto adoption for international money transfers, especially from developed economies to emerging markets, the report stated.Global USDT flow map. Source: BISThe US and the UK accounted for a cumulative 20% of cross-border payments using Bitcoin and USDC, and nearly 30% using ETH.As for USDT, Russia and Turkey accounted for over 12% of the cross-border transactions using the world’s largest stablecoin.Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express
Published: 2 days ago
What is RISC-V, and why does Vitalik Buterin want it for Ethereum smart contracts?
What is RISC-V? RISC-V, pronounced “risk five,” is a modern open-source instruction set architecture (ISA) based on reduced instruction set computer (RISC) principles. In simple terms, it’s like a blueprint that defines a set of instructions that a processor can execute.RISC-V is designed to be highly modular, efficient and flexible. Originally developed by the University of California in 2010, the open-source framework gives developers the flexibility to tailor its functionality and use cases, plus offers cost savings compared to proprietary ISAs like ARM or x86. This offers a wide range of uses, from supercomputers to smartphones and now blockchains like Ethereum.On April 20, 2025, Ethereum co-founder Vitalik Buterin unveiled a “radical” new scaling proposal to replace the Ethereum Virtual Machine (EVM) with the RISC-V instruction set architecture, aiming to boost the speed and efficiency of the network’s execution layer. The idea is that RISC-V is the best way to solve the blockchain’s scalability constraints. “It aims to greatly improve the efficiency of the Ethereum execution layer, resolving one of the primary scaling bottlenecks, and can also greatly improve the execution layer’s simplicity - in fact, it is perhaps the only way to do so.The idea: replace the EVM with RISC-V as the virtual machine language that smart contracts are written in,” said Buterin.Ethereum continues to face high transaction fees and reduced transaction volume as users shift to layer 2s for cheaper, faster transactions. This aligns with Ethereum’s scaling strategy post-Merge (2022). Buterin’s idea to reshape the chain is seen as a chance for it to modernize and retain its dominance as a top smart contracting platform.Did you know? Ethereum’s execution layer has become its main scalability bottleneck. The inefficient processing of smart contracts and transactions due to single-threaded execution, wasteful computational design and complex state management is causing network congestion. How would RISC-V work on Ethereum? Adding RISC-V to Ethereum is still just a proposal being discussed by the community and network governance. Buterin outlines several approaches to implement the proposal, including running two virtual machines (VMs) or a complete switch to RISC-V.The first idea to support VMs would enable contracts to be written and executed in either the existing EVM model or RISC-V. Both contract types would have access to functionality such as persistent storage, holding Ether (ETH) balances and making and receiving calls. Adding to this, the contract could integrate so they can call one another. An alternative approach, described as “more radical,” would modify the protocol to convert existing EVM contracts. This would require rewriting current contracts to interact with an EVM interpreter, while new contracts would be written directly in RISC-V.A major challenge for such a drastic change is to avoid breaking existing decentralized applications (DApps) and smart contracts. Ethereum can’t risk breaking existing contracts written in the current EVM code. A transitional solution could involve using an interpreter — essentially a translation layer between different computing languages. This would allow developers to begin building with RISC-V while ensuring legacy EVM contracts continue to function without disruption.Did you know? In 2022, Ethereum made a leap forward in its energy efficiency and delivered more scalability, security and sustainability. In a process dubbed “The Merge,” the chain switched from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS). This involved merging the Ethereum mainnet with a separate PoS blockchain called Beacon Chain. Key benefits of RISC-V vs. EVM If RISC-V causes a major shift in the Ethereum architecture, what will be the benefits of making this change? In the long run, RISC-V would enhance the Ethereum smart contracts’ performance and processing.According to Buterin, the new architecture could theoretically deliver efficiency gains of 100x; in reality, this number will be hard to reach, but gains would still be significant. The efficiency gains are tied to RISC-V’s suitability for both zero-knowledge (ZK) proof systems and general smart contract execution, as it eliminates EVM overhead.It’s less about replacing the EVM outright and more about using RISC-V as a backend for zkEVM or similar ZK rollups, where proving costs dominate. Scalability improvements would largely come from offloading execution to ZK rollups, with RISC-V optimizing the proving process.RISC-V smart contracts could run faster and use fewer computational resources. This increased efficiency would likely translate to lower gas fees for the end users. In the process, it would also enable the network to handle more users and transactions without slowing down. That would be a direct improvement to the scalability of Ethereum, potentially solving one of the biggest criticized points of the blockchain industry. Additionally, RISC-V’s simple, flexible instruction set is better suited for ZK-proof computations than the EVM, which incurs overhead from administrative tasks like gas accounting and state management. Rather than rebuilding the EVM for ZK-proofs, RISC-V offers a streamlined alternative, simplifying the development of ZK-optimized execution layers. This could accelerate Ethereum’s roadmap for privacy and scalability via ZK rollups, making RISC-V a compelling complement to the EVM.Below is a comparison table summarizing the key differences and benefits of RISC-V vs. the EVM.Did you know? Ethereum has gone through several major development milestones over its first decade. Notably, in 2016, it conducted a hard fork to roll back the chain after The DAO hack. The result is still noticeable today with Ethereum and Ethereum Classic chains both in existence. Will RISC-V be implemented in the future? Buterin’s proposal has sparked a lively debate among Ethereum users and developers. It is an ambitious idea that could be a milestone in the development roadmap for the leading smart contract blockchain. Programmer Ben Adams raised several concerns about the proposal: In short, the ZK-proof might become more efficient, but there could be a trade-off. Block building and execution, which run the smart contracts, could end up becoming significantly slower. “The risk here is that ZK-proving may get better, but block building and execution will deteriorate significantly,” commented Ben Adams.A sentiment that was echoed by another anonymous commenter, “I agree with Ben Adams here, The EVM as a whole is very much U256 based, so abstracting down to RISC-V would decrease overall execution performance.”Others appeared to agree that RISC-V was a good idea to help reduce bottlenecks but questioned if it was a priority, given the potential technical difficulty and cost. “Agree, it seems like a good idea for the L1 that solves points 2 and 3 of the L1 bottlenecks. But is this the set of priorities we want to solve for, especially given the scale of technical cost here?” added Adam Cochran. It’s clear that the proposal still needs clarity and further discussions within the Ethereum community. While the promise is one of radical simplification that drives efficiency and speed, it also introduces a complex technical change. It would require potentially years of dedication to rethinking how the layer-1 blockchain works.Of course, as with any decentralized project, the green light doesn’t just rely on technical planning; it needs the consent of the community. So, currently, Buterin’s proposal has opened a wide conversation about any impending development action.
Published: 2 days ago
Ethereum chart pattern supports ‘moon shot’ rally to new price highs if confirmed — Trader
Key Takeaways:Veteran trader Peter Brandt suggests a potential Ethereum rally to $3,800–$4,800 if ETH breaks above a rising wedge pattern.A short-term pullback may occur as the taker buy-sell ratio drops below one, signaling caution from futures traders.Ethereum’s native token Ether (ETH) opened its weekly candle at $1,807 on May 7, and now it is close to recording its highest 7-day returns of 38% since December 2020. Ether also surpassed its realized price for accumulating addresses ($1,900), which is the average cost basis for holders, signaling profits for users. As illustrated in the chart, most of the buying pressure for ETH came from Binance, which is currently the most active exchange for ETH traders. Ethereum realized price. Source: CryptoQuantElevated activity at Binance and an uptick in outflows reflect strong trader confidence, liquidity, and sustained bullish momentum in the current market. “Moonshot” rally to new highs for EthereumIn a recent X post, veteran trader Peter Brandt highlighted a developing market structure that could pave the way for an Ethereum rally, provided the altcoin breaks through a key "congestion" pattern. Brandt identified a rising wedge formation on the chart—a pattern often considered bearish. Ethereum analysis by Peter Brandt. Source: X.comHowever, he suggested that a breakout above this pattern could propel Ethereum’s price toward the descending resistance line, targeting a range between $3,800 and $4,800. This analysis marks a notable shift in Brandt’s outlook from 2024, aligning with the renewed optimism for the altcoin. Ethereum futures saw a 42% surge in open interest (OI), climbing from $21.3 billion to $30.4 billion between May 8 and May 11, 2025. Nearing its all-time high of $32 billion, this spike reflects heightened market activity and growing trader engagement. The rapid increase in OI signals strong interest in Ether futures, potentially paving the way for increased price volatility.Ethereum futures open interest. Source: CoinGlassRelated: Altseason is coming, 40% daily gains to become ‘new normal’ — AnalystEthereum’s higher-time frame (HTF) chart reflects a price rise on the weekly chart, where the altcoin has jumped toward the 50 and 100-week exponential moving averages (EMAs) over the past couple of weeks. Historically, such a recovery marks a price bottom but could also signal the beginning of a small correction period after the EMAs retest.Ethereum weekly chart analysis. Source: Cointelegraph/TradingViewUsing Fibonacci retracement levels, ETH has retested the 0.5 to 0.618 range (orange box), which aligns with a price level of $2,500. This retest represents the first leg of the recovery, but a short-term pullback may occur before further bullish action unfolds.With ETH prices moving at a parabolic rate over the past few days, liquidation heatmaps noted higher buy-side liquidity between $2,200 and $2,400, after a short-squeeze took prices up to $2,608.Ethereum taker buy-sell ratio. Source: CryptoQuantSimilarly, the taker buy-sell ratio is beginning to slow down and dropped below 1 on May 10. The ratio of buy volume divided by sell volume of takers in perpetual swap trades indicates futures sentiment, and a ratio below 1 implies short-term bearishness. Thus, traders could approach the coming days more cautiously, with ETH consolidating under the $2,500 level. Related: Ethereum price greenlit for further upside after surprise 29% ETH rallyThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 3 days ago
Bitcoin price inches closer to new all-time high as ETH, DOGE, PEPE and ATOM rally
Key points:Bitcoin holds on to its recent gains, increasing the possibility of a retest of the all-time high at $109,588.BlackRock’s spot Bitcoin ETF records 19 days of successive inflows, showing solid demand. Select altcoins are showing strength, having broken out of their large basing patterns.Bitcoin (BTC) made a decisive move above the psychologically crucial $100,000 level during the week, signaling that the bulls are back in the game. Buyers are trying to hold on to the 10% weekly gains over the weekend.Bitcoin’s rally has been backed by solid inflows into the BlackRock spot Bitcoin exchange-traded fund (IBIT). According to Farside Investors’ data, the fund stretched its inflows streak to 19 days, with the latest trading week attracting $1.03 billion in inflows.Crypto market data daily view. Source: Coin360The rally was not limited to Bitcoin alone, as several altcoins also moved higher. That has prompted analysts to announce the start of an altseason, with some predicting sharp rallies in altcoins over the next few months. However, not everyone believes that an altseason has started because the altcoins have only made modest moves compared to the massive price erosion from their respective all-time highs. Could Bitcoin break out to a new all-time high and maintain it? If it does, let’s study the charts of the cryptocurrencies that may move higher in the near term.Bitcoin price predictionBitcoin has been gradually inching toward the all-time high of $109,588, indicating that the bulls are in no hurry to book profits.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe rally has pushed the relative strength index (RSI) into the overbought zone, suggesting a correction or consolidation in the near term. Any pullback is expected to find support between $100,000 and the 20-day exponential moving average ($96,626). If the price rebounds off the support zone, it increases the possibility of a break above $109,588. If that happens, the BTC/USDT pair could surge toward $130,000.Time is running out for the bears. If they want to make a comeback, they will have to swiftly yank the price below the 20-day EMA. If they succeed, the pair could plunge to the 50-day simple moving average ($88,962).BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair continues to climb higher, but the bears are expected to fiercely defend the $107,000 to $109,588 zone. If the price turns down from the overhead zone, the 20-EMA is likely to act as strong support. A bounce off the 20-EMA signals that the bullish momentum remains intact. That enhances the prospects of a breakout above $109,588.Sellers will have to tug the price below $100,000 to weaken the positive momentum. That opens the doors for a fall to $93,000 and subsequently to $83,000.Ether price predictionEther (ETH) skyrocketed from $1,808 on May 8 to $2,600 on May 10, indicating aggressive buying by the bulls.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe up move pushed the RSI into the overbought territory, indicating a minor pullback or consolidation is possible in the near term. The first support on the downside is $2,320 and then $2,111. If the price turns up from the support levels, the ETH/USDT pair could extend the rally to $2,850 and later to $3,000.The optimistic view will be invalidated in the near term if the price breaks below $2,111. That could result in a range formation between $1,754 and $2,600.ETH/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe bulls pushed the price above the $2,550 resistance but could not sustain the higher levels. A minor positive in favor of the bulls is that they have not ceded much ground to the bears. That suggests the bulls are holding on to their positions as they anticipate the up move to continue. If the price turns up from the current level of the 20-EMA and breaks above $2,609, the rally could reach $3,000. A deeper correction could begin if the price continues lower and plummets below the 20-EMA. That could sink the pair toward the solid support at $2,111.Dogecoin price predictionDogecoin (DOGE) soared above the $0.21 overhead resistance on May 10, indicating a change in the short-term trend.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe rally is facing selling at $0.26, which could result in a retest of the breakout level of $0.21. If the price rebounds off $0.21 with strength, it suggests a change in sentiment from selling on rallies to buying on dips. That increases the likelihood of a rally to $0.31. If buyers want to prevent the upside, they will have to pull the price below the 20-day EMA ($0.19). If they do that, the DOGE/USDT pair could swing inside a large range between $0.26 and $0.14 for a while. DOGE/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has turned down from $0.26, with immediate support at $0.22 and then at $0.21. If the price rebounds off the support zone, it suggests a positive sentiment where dips are being purchased. The bulls will then again try to resume the uptrend by pushing the price above $0.26.Conversely, a drop below $0.21 signals that the bulls are rushing to the exit. That could pull the price to the 50-day SMA.Related: Ethereum to $10K 'can't be ruled out' as ETH price makes sharp gains vs. SOL, XRPPepe price predictionPepe (PEPE) rallied sharply from the 50-day SMA ($0.000008) and broke above the $0.000011 overhead resistance on May 8.PEPE/USDT daily chart. Source: Cointelegraph/TradingViewThe rally has pushed the RSI into the overbought zone, signaling a pullback may be around the corner. The PEPE/USDT pair could drop to the breakout level of $0.000011. If the price rebounds off $0.000011, it suggests that the bulls have flipped the level into support. That improves the prospects for a rally to $0.000017 and then to $0.000020.This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA ($0.000009).PEPE/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows that the bears are aggressively defending the $0.000014 level. That could pull the price down to the 20-EMA, which is a vital level to keep an eye on. If the price rebounds off the 20-EMA, the bulls will make another attempt to shove the pair above $0.000014. If they can pull it off, the pair could ascend to $0.000017.On the contrary, a break and close below the 20-EMA could sink the pair to $0.000011. Buyers are expected to defend the $0.000011 level with all their might because a slide below it may extend the pullback to the 50-SMA.Cosmos price predictionCosmos (ATOM) broke out of the large base when it closed above $5.15 on May 10. That signals a potential trend change.ATOM/USDT daily chart. Source: Cointelegraph/TradingViewHowever, the bears are unlikely to give up easily. They will try to pull the price back below the $5.15 level. If they manage to do that, the aggressive bulls may get trapped, pulling the price to the moving averages. Alternatively, if buyers sustain the price above $5.15, the ATOM/USDT pair could pick up momentum and rally to $6.50. Sellers will try to halt the up move at $6.50, but if the bulls prevail, the pair could rally to $7.50.ATOM/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe sharp rally has pushed the RSI into the overbought zone on the 4-hour chart, suggesting a short-term correction or consolidation. The bulls will have to defend the critical $5.15 level if they want to keep the positive momentum intact. If they manage to do that, the pair could rally to $6.60.Contrarily, a break and close below $5.15 could pull the price down to the 20-EMA. This is an important level to watch out for because a break below it may sink the pair to $4.70.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 3 days ago
Ethereum to $10K 'can't be ruled out' as ETH price makes sharp gains vs. SOL, XRP
Key takeaways:Ether has rebounded from key parabolic and triangle support levels, reviving the case for a $10,000 breakout.Historical fractals and RSI recovery mirror past pre-rally setups seen in 2016 and 2020.Altseason signals and strength against rivals like SOL and XRP boost Ethereum’s potential to outperform.Ether (ETH), Ethereum’s native token, has soared over 44% in just three days to surpass $2,600 on May 11, fueling fresh speculation of a run toward $10,000 in the coming months. A mix of fractal setups as well as Ether’s potential to outperform its top-ranking rivals, Bitcoin (BTC), Solana (SOL), and XRP (XRP), are serving as some catalysts behind the five-figure price prediction.ETH's “up band” target is around $10,000Ether’s long-term price action continues to follow a parabolic curve that has defined its major market cycles since 2015. As of May 2025, ETH has rebounded from the curve’s lower boundary near $2,100 — a historically significant support zone that has previously triggered major rallies. ETH/USD monthly price chart. Source: TradingViewIf this parabolic trajectory holds, Ethereum’s next move could be toward the upper boundary of the curve, which currently intersects near the $10,000 level. Supporting this view, analyst MilkyBull Crypto highlights a similar setup on Ethereum’s monthly chart, noting that ETH’s rally to $10,000 “can’t be ruled out technically.”Source: MilkyBull Crypto Combined with RSI recovery from a multi-year support zone near 40, the setup adds further weight to the five-figure price target.ETH looks set to outperform top crypto rivalsThe bullish outlook for Ethereum is gaining traction as analysts anticipate an altcoin season in the coming months. Chartist Mister Crypto, for instance, argues that altcoins like ETH may rally 40% in a single day amid capital rotation from Bitcoin. Source: Mister CryptoThe Altcoin Season Index, which has broken out of a downtrend just below the 29 level, signals a potential shift away from Bitcoin dominance. While still in “Bitcoin Season” territory (below 25), the breakout suggests altcoins like ETH may soon begin to outperform.Additionally, Ethereum’s top blockchain rival, Solana, is painting a rising wedge pattern against Ether, furthering its potential to decline in the coming weeks.Related: Solana lacks ‘convincing signs’ of besting Ethereum: SygnumSOL/ETH weekly and XRP/ETH three-day performance chart. Source: Wolf/TradingViewThe same picture can be seen against XRP, suggesting that more capital may flow toward Ethereum from rival altcoins in the coming days or weeks. Ether symmetrical triangle hints at above $10,000As of May, Ether is reclaiming the lower trendline of its multi-year symmetrical triangle after a brief breakdown in March, while bouncing off its 200-2W exponential moving average (200-2W EMA; the blue wave) support. ETH’s rebound confirms a bullish rejection, validating the ongoing consolidation structure.ETH/USD two-week price chart. Source: TradingViewThis setup closely resembles ETH’s past macro consolidations, namely the 2016 bull flag and the 2018–2020 falling wedge, both of which preceded major breakouts to new all-time highs.A breakout above the current triangle consolidation could follow a similar trajectory, increasing the probability of ETH reaching the $10,000 mark — and even $20,000 if the breakout pans out per the rules of technical analysis.ETH/USD weekly price chart. Source: TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 3 days ago
Pectra lets hackers drain wallets with just an offchain signature
Ethereum’s latest network upgrade, Pectra, introduced powerful new features aimed at improving scalability and smart account functionality — but it also opened a dangerous new attack vector that could allow hackers to drain funds from user wallets using only an offchain signature.Under the Pectra upgrade, which went live on May 7 at epoch 364032, attackers can exploit a new transaction type to take control of externally owned accounts (EOAs) without requiring the user to sign an onchain transaction.Arda Usman, a Solidity smart contract auditor, confirmed to Cointelegraph that “it becomes possible for an attacker to drain an EOA’s funds using only an offchain signed message (no direct onchain transaction signed by the user).”At the center of the risk is Ethereum Improvement Proposal (EIP)-7702, a core component of the Pectra upgrade. The Ethereum Improvement Proposal introduces the SetCode transaction (type 0x04), which enables users to delegate control of their wallet to another contract simply by signing a message.If an attacker obtains this signature — say, via a phishing site — they can overwrite the wallet’s code with a small proxy that forward calls to their malicious contract.“Once the code is set,” Usman explained, “the attacker can invoke that code to transfer out the account’s ETH or tokens — all without the user ever signing a normal transfer transaction.”Source: Vladimir S. | Officer's NotesRelated: Ethereum Pectra upgrade adds new featuresWallets can be altered with offchain signatureYehor Rudytsia, onchain researcher at Hacken, noted that this new transaction type introduced by Pectra allows arbitrary code to be installed on the user’s account, essentially turning their wallet into a programmable smart contract.“This tx type allows the user to set arbitrary code (smart contract) to be able to execute operations on the user’s behalf,” Rudytsia said.Before Pectra, wallets could not be modified without a transaction signed directly by the user. Now, a simple offchain signature can install code that delegates complete control to an attacker’s contract.“Pre-Pectra, users needed to send transaction (not sign message) to allow their funds to be moved… Post-Pectra, any operation may be executed from the contract which user approved via SET_CODE,” Rudytsia explained.The threat is real and immediate. “Pectra activated May 7, 2025. From that moment, any valid delegation signature is actionable,” Usman warned. He added that smart contracts relying on outdated assumptions, such as using tx.origin or basic EOA-only checks, are particularly vulnerable.Wallets and interfaces that fail to detect or properly represent these new transaction types are most at risk. Rudytsia warned that “wallets are vulnerable if they do not analyze Ethereum’s transaction types,” especially transaction type 0x04.He emphasized that wallet engines must clearly display delegation requests and flag any suspicious addresses.This new form of attack can be easily executed through common offchain interactions like phishing emails, fake decentralized applications or Discord scams.“We believe it will be the most popular attack vector regarding these breaking changes introduced by Pectra,” Rudytsia said. “From now on, users have to carefully validate what they are going to sign.”Source: NoirRelated: Pectra features already in use: Ethereum EIP-7702 wallets roll outHardware wallets are not safer anymoreHardware wallets are no longer inherently safer, Rudytsia said. He added that hardware wallets from now on are at the same risk as hot wallets from the perspective of signing malicious messages. “If done, all the funds are gone in a moment.”There are ways to stay safe, but they require awareness. “Users should not sign the messages they do not understand,” Rudytsia advised. He also urged wallet developers to provide clear warnings when users are asked to sign a delegation message.Special caution should be taken with new delegation signature formats introduced by EIP-7702, which are not compatible with existing EIP-191 or EIP-712 standards. These messages often appear as simple 32-byte hashes and may bypass normal wallet warnings.“If a message includes your account nonce, it’s probably affecting your account directly,” Usman warned. “Normal sign-in messages or offchain commitments don’t usually involve your nonce.”Adding to the risk, EIP-7702 allows for signatures with chain_id = 0, meaning the signed message can be replayed on any Ethereum-compatible chain. “Understand it can be used anywhere,” Usman said.While multisignature wallets remain more secure under this upgrade, thanks to their requirement for multiple signers, single-key wallets — hardware or otherwise — must adopt new signature parsing and red-flagging tools to prevent potential exploitation.Alongside EIP-7702, Pectra also included EIP-7251, which raised Ethereum’s validator staking limit from 32 to 2,048 ETH, and EIP-7691, which increases the number of data blobs per block for better layer-2 scalability.Magazine: Bitcoin eyes ‘crazy numbers,’ JD Vance set for Bitcoin talk: Hodler’s Digest, May 4 – 10
Published: 3 days ago
Why is Ethereum (ETH) price up today?
Key takeaways:Ether is set for its best weekly gain since May 2021.Ethereum’s Pectra upgrade, mega-whale accumulation, and a major short squeeze fuel the rally.Technical patterns suggest a potential 40% rally toward $3,400 as ETH bounces off key support.Ether (ETH) is on course to record its best weekly performance since May 2021, having risen by over 37.50% in the week ending May 11, including 10.30% gains in the last 24 hours.US tariff updates, Pectra upgrade boost EthereumThe announcement of a new trade agreement between the US and the UK on May 8 and the initiation of US-China trade talks afterward have bolstered upside sentiment in Ether and the broader crypto market.Additionally, Ether benefits from its Pectra upgrade on May 7, which introduced key improvements like higher staking limits and account abstraction (EIP-7702) to make Ethereum easier and more flexible.ETH/USD vs. TOTAL crypto market and BTC/USD five-day performance. Source: TradingView These upgrades are helping ETH’s price rise faster than the broader crypto market. Since May 8, Ether has gained over 34.3%, outperforming the crypto market’s 10.91% increase in total capitalization during the same period. Bitcoin (BTC), despite breaking above the symbolic $100,000 mark, has also trailed Ethereum’s percentage gains.Source: Crypto GoosEthereum short squeeze boosts ETH priceShort liquidations in the Ethereum Futures market have been fueling upward momentum further. Since May 8, traders betting against Ethereum have been forced to close their positions, with $437.94 million in short liquidations recorded. At the same time, $211.29 million in long liquidations have also occurred. ETH total liquidation chart. Source: CoinGlassAs prices climbed, short sellers had to buy back ETH to cover their losses, pushing the price even higher.At the same time, Ethereum’s open interest—the total value of outstanding futures contracts—has increased sharply from $21.28 billion on May 8 to $26.77 billion on May 10. ETH funding rates and open interest. Source: CoinGlassAdditionally, weekly funding rates for Ethereum perpetual futures rose from 0.10% to 0.15% during this period. This rise in open interest shows more traders are entering the market and opening new positions. Higher funding rates indicate that more traders are going long (betting on higher prices) and are willing to pay extra fees to keep those positions open.Both metrics signal bullish bias among Ethereum futures traders.Ethereum rally precedes mega-whale accumulationEther’s price rally in the past days has preceded substantial accumulation among its “mega-whales,” i.e., wallets holding over 10,000 ETH. The Glassnode chart illustrates that mega-whale net position change has flipped positive since late April, with whales steadily increasing their ETH holdings. Ethereum mega-whale net positions change vs. ETH price. Source: GlassnodeAt the same time, the total supply held by these large entities has risen to its highest level since March 2025, surpassing 40.75 million ETH.Related: Ethereum Foundation distributed $32.6M grants to ecosystem in Q1This accumulation suggests that large investors are positioning for further price gains, boosting upside confidence across the Ethereum market.Source: XEther’s key support bounce hints at $3,400 Ethereum’s price is bouncing off a long-term ascending support line visible on the monthly chart, forming the lower boundary of a large symmetrical triangle pattern. ETH/USD monthly price chart. Source: TradingViewThis bounce increases the likelihood of a move toward the triangle’s upper trendline near $3,400 in the coming months, up by around 40% from the current price levels.Historically, ETH has seen strong rallies each time it touches this support, reinforcing the bullish outlook, which echoes Peter Brandt’s analysis that predicts ETH price to “moonshot” toward similar targets.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 4 days ago
Ethereum price greenlit for further upside after surprise 29% ETH rally
Key takeaways:ETH price rallied by 22% on May 8, but demand for spot ETH ETFs and derivatives remains muted. President Trump’s reversal on certain altcoins aligns with ETH’s renewed outlook. Ether (ETH) posted an impressive 29% gain between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed out at $1,385 on April 9. This sharp move triggered the liquidation of over $400 million in short (sell) ETH futures positions, suggesting that whales and market makers were caught off guard.Despite the surge, traders have maintained a neutral stance in ETH derivatives. Whether this apparent lack of conviction reflects a genuine trend reversal or merely precedes another test of the $2,000 level remains to be seen.Ether 3-month futures annualized premium. Source: laevitas.chThe ETH futures premium has yet to exceed the 5% threshold typically associated with a neutral market, indicating that demand for leveraged bullish positions remains notably limited. ETH's continued underperformance—trailing the altcoin market capitalization by 17% in 2025—helps explain the prevailing lack of investor confidence.Some analysts interpret this as an opening for further short covering, while others contend that Ethereum's core fundamentals have yet to improve meaningfully.Ethereum maintains leadership in decentralization and TVLIrrespective of Ether’s price action, recent network upgrades have notably enhanced layer-2 scalability. More importantly, they have helped solidify Ethereum’s position as the leading platform in terms of decentralization and security. This is reflected in Ethereum’s total value locked (TVL), which stands at $64 billion. For comparison, the three largest direct competitors—Solana, BNB Chain, and Tron—collectively hold a total value locked (TVL) of $22.3 billion. The limited demand for spot Ether exchange-traded funds (ETFs) has emerged as a key warning sign. Even Ether’s strongest single-day price performance in four years failed to prevent a third consecutive day of net outflows, according to data from Farside Investors. On May 8 alone, US-listed Ether spot ETFs experienced net outflows totaling $16 million.Ether US-listed spot ETFs' daily net flows, USD million. Source: Farside InvestorsThe muted enthusiasm following Ether’s recent bullish momentum can be partly attributed to the sharp 85% drop in Ethereum network fees from January to April. Reduced network activity lowers overall demand for ETH and negatively affects net staking yields, as the protocol’s burn mechanism relies on competition for data processing.ETH options markets also offer insight into whether whales and market makers anticipate further downside risks. Deribit 30-day ETH options delta skew (put-call). Source: Laevitas.chCurrently, put (sell) options are trading at similar levels to equivalent call (buy) options, indicating a neutral sentiment. This outcome is somewhat discouraging for Ether bulls. Nevertheless, Ether could regain market attention after US President Donald Trump reversed his position following earlier public endorsements of competing altcoins.Related: Ether clocks ‘insane’ 20% candle post Pectra — A turning point?According to a Politico report published on May 8, President Trump felt he had been “used” and had severed ties with the lobbyist who reportedly proposed the idea of a strategic crypto reserve. While Trump’s social media post on March 2 specifically mentioned Solana (SOL), Cardano (ADA), and XRP, the subsequent March 6 “Digital Asset Stockpile” Executive Order struck a much more reserved tone.Despite the evident apathy in both the Ether derivatives market and spot ETF flows, a rally toward the $2,700 level remains plausible—especially if investor sentiment shifts in response to the failed lobbying efforts undertaken by some of Ethereum’s competitors.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 5 days ago
Price predictions 5/9: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Key points:Bitcoin holding $100,000 as a level of support would confirm the current trend change.Ether leads among altcoins, and DeFi tokens could follow.Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post, CoinGlass said that Bitcoin’s rally resulted in $837.80 million in short liquidations in a 24-hour period, the largest since 2021.Bitcoin’s rally also lifted several major altcoins, which soared above their respective overhead resistance levels. The altcoin rally was led by Ether (ETH), which surged roughly 22% on May 8, triggering a $328 million liquidation of Ether short positions.Crypto market data daily view. Source: Coin360Although the short-term picture has turned positive, Bitcoin bulls are expected to face significant resistance near the all-time high of $109,588. During pullbacks, traders will have to maintain the price above $100,000 to retain the bullish momentum. Could Bitcoin continue its upward move and pierce the all-time high? Are altcoins getting ready for a short-term rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin rallied more than 6% and closed above the $100,000 barrier on May 8, indicating that buyers have asserted their supremacy.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe BTC/USDT pair could reach the $107,000 to $109,588 zone, where the bears are expected to mount a strong defense. The overbought level on the relative strength index (RSI) suggests a short-term pullback is possible.If the price turns down from the overhead resistance but finds support at the 20-day exponential moving average ($94,879), it signals a positive sentiment. The bulls will then make one more attempt to push the price above the all-time high.The first sign of weakness will be a close below the 20-day EMA. That suggests profit booking at higher levels. The pair may then tumble to the 50-day simple moving average ($88,139).Ether price predictionEther (ETH) skyrocketed above the $2,111 resistance on May 8 and extended its up move to nearly $2,550 on May 9.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe long wick on the candlestick shows solid selling near $2,550. If the price turns down from $2,550 but finds support at $2,111, it indicates that the bulls are trying to flip the level into support. The bulls will then make one more attempt to drive the ETH/USDT pair above $2,550. If they succeed, the pair could climb to $2,850.Sellers will have to pull the price below the $2,111 level to weaken the bullish momentum. The pair may then slide to the 20-day EMA ($1,867).XRP price predictionBuyers have pushed XRP (XRP) to the resistance line, which is a crucial near-term level to watch out for.XRP/USDT daily chart. Source: Cointelegraph/TradingViewSellers are expected to defend the resistance line aggressively because a break and close above it signals a potential trend change. The XRP/USDT pair could rise to $2.60 and subsequently to $3.If the price turns down from the resistance line but finds support at the moving averages, it suggests that the bulls are buying the dips. The bulls will then again attempt to propel the price above the resistance line. Sellers will have to tug the price below the $2 support to seize control.BNB price predictionBNB (BNB) made a decisive move higher on May 8 and rose above the immediate overhead resistance at $620.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe BNB/USDT pair reached the $644 level on May 9, which is expected to behave as a strong barrier. However, if buyers keep up the pressure and pierce the $644 resistance, the pair could soar to $680.Time is running out for the bears. If they want to halt the uptrend, they will have to fiercely defend the $644 level and pull the price below the moving averages. The pair could then descend to $580.Solana price predictionSolana (SOL) broke and closed above the $153 resistance on May 8, indicating that the bulls are in charge.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe SOL/USDT pair could reach $180, which is expected to behave as a formidable obstacle. If the price turns down from $180 but rebounds off $153, it suggests that buyers are trying to form a higher low. That enhances the prospects of a rally to $200.This optimistic view will be invalidated in the near term if the price turns down sharply and plummets below the $140 support. That suggests traders are booking profits at higher levels.Dogecoin price predictionBuyers successfully defended the moving averages and pushed Dogecoin (DOGE) to the overhead resistance at $0.21.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewSellers will try to halt the up move at $0.21, but if the bulls pierce the resistance, the DOGE/USDT pair could rally toward $0.25. If the price turns down from $0.25 but finds support at $0.21, it signals that the bulls have flipped the level into support. That suggests the downtrend could be over.Contrarily, if the price turns down sharply from $0.21 and breaks below the moving averages, it indicates that the pair may oscillate inside the range for some more time.Cardano price predictionCardano (ADA) bounced off the 50-day SMA ($0.67) and completed an inverse head-and-shoulders pattern on May 8.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($0.69) has started to turn up, and the RSI is in the positive territory, signaling an advantage to buyers. If the price remains above the neckline, the ADA/USDT pair could surge toward the pattern target of $1.01. There is resistance at $0.83, but it is likely to be crossed.If bears want to prevent the upside, they will have to yank the price below the 50-day SMA. That could sink the pair to $0.60 and eventually to $0.50.Related: Chance of Bitcoin price highs above $110K in May increasing — Here’s whySui price predictionSui (SUI) rallied sharply from the 20-day EMA ($3.29) and climbed above the $3.90 overhead resistance on May 8.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA and the RSI near the overbought zone signal that the bulls are in command. If the price maintains above $3.90, the SUI/USDT pair could rally to $4.25 and eventually to $5.Alternatively, if the price turns down and closes below $3.90, it suggests that the bears are trying to make a comeback. The pair could then slump to the 20-day EMA, which is likely to act as solid support.Chainlink price predictionChainlink (LINK) turned up sharply from the 50-day SMA ($13.72) on May 8 and completed an inverse head-and-shoulders pattern. LINK/USDT daily chart. Source: Cointelegraph/TradingViewSellers are trying to pull the price back below the neckline, but if the bulls successfully hold the level, the LINK/USDT pair could break above the resistance line and rally toward the pattern target of $21.30.This optimistic view will be negated if the price turns down sharply and breaks below the moving averages. That opens the doors for a fall to $12, indicating that the pair may remain inside the channel for a while longer.Avalanche price predictionAvalanche (AVAX) bounced off the moving averages on May 8 and reached the overhead resistance of $23.50 on May 9.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewSellers are expected to defend the $23.50 level with all their might because a break and close above the resistance could clear the path for a potential rise to $28.78 and, after that, to $31.73.On the contrary, if the price turns down sharply from $23.50 and breaks below the moving averages, it suggests that the AVAX/USDT pair may extend its stay inside the range for a few more days.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 5 days ago
Ethereum's new staking limit not a risk to decentralization: Consensys researcher
Ethereum’s Pectra upgrade doesn’t pose a threat to decentralization, according to Mallesh Pai, senior research director at blockchain software firm Consensys, describing the update as a cleanup of the behind-the-scenes “busy work” currently handled by validators. During a May 9 Cointelegraph X Space, Pai said a validator’s chances of proposing a block or earning rewards remain tied to how much Ether (ETH) they hold, adding that larger validators don’t gain any new advantages under the upgrade: “Rewards continue to be proportional to the amount of ETH you have. […] it's not the case that if you're a big validator, you somehow have any more advantages than you did before.”Pectra is Ethereum’s most extensive network upgrade since the Merge took place in September 2022. Pectra allows validators to stake as much as 2,048 ETH, up from the previous limit of 32 ETH. The new standard has raised community concerns about the risks of centralization on the network.According to Pai, the Pectra upgrade has taken “a bunch of busy work that the network was doing behind the scenes and removed it.”Pai noted that while there are about a million technical validators on Ethereum, many aren’t truly distinct — large validators often operate numerous virtual keys from a single physical machine. With the Pectra upgrade, those keys can now be consolidated — something he says they are already seeing.“In the best case, we’ll get to about 30,000 validators,” he said, adding that this consolidation reduces auxiliary work and enables network stakeholders to focus on what matters, such as lowering gas limits.Related: Ethereum Pectra upgrade adds new features — How long before ETH price reacts?New Pectra staking limit paves the way for institutionsThe new limit could pave the way for institutions to stake ETH, according to Artemiy Parshakov, vice president of institutions at Ethereum staking service P2P.org. “EIP-7002 makes institutional staking much easier to integrate without taking too much risk.”Ether staking within exchange-traded funds has been a hot topic in 2025. BlackRock has said that the successful Ether ETFs are less perfect without staking, and multiple financial institutions have filed for amendments to their Ether ETFs to allow for staking.If approved, investors might be more inclined to buy into the ETFs, as they could receive yield. The SEC has yet to rule on staking amendments. Bloomberg ETF analyst Eric Balchunas recently forecast in a podcast interview that if staking were to be approved for Ether ETFs, it would have “a little impact” on inflows. “The bigger problem with Ethereum is performance; it just doesn’t ever go on a nice long rally.”Magazine: Pectra hard fork explained — Will it get Ethereum back on track?
Published: 5 days ago
Bitcoin hits $103K but DeFi is a mixed bag: Finance Redefined
The cryptocurrency market continued to surge this past week as the overall digital asset market capitalization exceeded $3.27 trillion, an 8.6% increase over the previous week.Bitcoin (BTC) reached a high of $103,600 on May 8 after reclaiming $100,000 for the first time since January. Its market dominance also surged above 60%, reflecting more bullish BTC sentiment. This marked the third time BTC has broken through six figures since it reached the milestone on Dec. 5, 2024, and again on Jan. 20, ahead of US President Donald Trump’s inauguration. The BTC rise coincided with Trump announcing a trade deal with the United Kingdom, which may include removing a 10% blanket tariff on all imports.In the wider crypto space, Ethereum’s Pectra upgrade implemented much-needed improvements for the crypto ecosystem. The upgrade was followed by a 26% price surge for Ether (ETH), rising from $1,800 on May 7 to over $2,300 on May 9.Total crypto market cap, 1-year chart. Source: CoinMarketCapBitcoin DeFi sees surge in mining participation despite drop in TVLMessari's “State of Rootstock” report for 2025 showed that merged mining participation surged to an all-time high of 81% in Q1 2025, up from 56.4% in the previous quarter. The surge was attributed to onboarding major mining pools SpiderPool and Foundry. The influx of mining support boosted Rootstock's hash power above 740 exahashes per second. This surpassed Bitcoin's total network hashrate recorded in October 2024, marking a more mature phase for the platform's merged mining growth. The surge in merged mining participation came as Rootstock's ecosystem faced headwinds. In Q1 2025, Rootstock’s total value locked (TVL) declined. Its Bitcoin TVL dropped 7.2%, while the dollar-denominated TVL fell by over 20% quarter-on-quarter.Rootstock overview for Q1 2025. Source: MessariThis mirrored a broader downward trend across the DeFi sector, with Ethereum-based DeFi TVL showing a 27% decline in the same period.Continue readingHacken CEO sees “no shift” in crypto security as April hacks hit $357 million Crypto hacks in April saw nearly $360 million in assets stolen across 18 incidents. This represented an almost 1,000% increase over the amount lost in March. The largest loss came from an unauthorized Bitcoin transfer. On April 28, blockchain investigator ZachXBT reported a suspicious transaction of Bitcoin worth $330 million. He later confirmed that it was a social engineering attack that targeted an elderly American. Source: PeckShieldIn a Cointelegraph interview at the Token2049 event, Hacken CEO Dyma Budorin told Cointelegraph that the industry continues to rely on limited security measures even after the $1.4 billion Bybit hack incident. Budorin said that the space implements limited measures instead of deploying comprehensive strategies. “Most of the projects think, ‘Okay, we did pentests. That’s enough. Maybe bug bounty. That’s enough.’ It’s not enough,” Budorin told Cointelegraph. Continue readingAI decentralized apps are coming for the Web3 throne: DappRadarWhile gaming and DeFi held on to the top spot in the decentralized applications (DApps) ecosystem, artificial intelligence is slowly catching up. Blockchain analytics platform DappRadar showed that Gaming and DeFi saw 21% DApp dominance in April. However, AI DApps climbed to 16%, up from the 11% recorded in the platform's February data. “As user interest in artificial intelligence tools grows across industries, AI-powered DApps are steadily carving out their place in the decentralized ecosystem,” DappRadar analyst Sara Gherghelas said.AI DApps have seen a jump in market dominance this month, while market leaders have declined slightly. Source: DappRadarGherghelas added that if the trend continues, AI could challenge the dominance of DeFi and gaming, signaling a "new era" in the DApp landscape. Continue readingBitcoin-backed loans “obvious” next step — Xapo Bank CEOBitcoin holders are becoming more confident in using their BTC to borrow funds. In a Token2049 interview, Xapo Bank CEO Seamus Rocca told Cointelegraph that investors' moods have shifted from short-term speculation to a more long-term outlook on Bitcoin. Rocca said that the confidence comes from broader institutional adoption and Bitcoin's price levels that are "nowhere near" liquidation. Rocca said Bitcoin-backed loans allow holders to stay exposed to the asset when facing unexpected expenses. The executive said the smart thing to do is not sell the asset when the price increases.Xapo Bank CEO Seamus Rocca at the Token2049 media lounge. Source: CointelegraphHowever, when life gets in the way, Rocca said investors can avoid liquidating their Bitcoin by borrowing against the asset and paying interest. This way, they can hold on to the assets despite needing liquidity for their expenses. Continue readingDeFi Market OverviewAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.The memecoin Pepe (PEPE) rose by over 53% as the week’s biggest gainer, followed by the Pudgy Penguins (PENGU) token, which was up by 47% during the past week. Ether (ETH) was the third-biggest gainer, showing an increase of 35%.Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Published: 5 days ago
Ethereum Foundation distributed $32.6M grants to ecosystem in Q1
The Ethereum Foundation, the nonprofit that supports development across the Ethereum blockchain, distributed $32.6 million in grants in the first quarter of 2025. In an allocation update, the organization reported spending on various initiatives through its Ecosystem Support Program (ESP). Categories included community and educational grants, zero-knowledge and cryptography. Other allocations included execution layers, developer experience and tools, layer-2 networks and overall ecosystem growth and support. Ethereum Foundation focuses on education and communityOf the 101 grants awarded, 32 went to community and education-focused initiatives. Recipients included educational content creators, conference organizers, bootcamps and hackathons such as ETHPrague and ETHiopia. Sixteen projects focused on improving the developer experience and tooling. Beneficiaries included projects focusing on creating software-development kits (SDKs), building analytics platforms and validator tooling. Several projects addressed Ethereum Improvement Proposal (EIP) accessibility, ecosystem tools and language support libraries. In addition, 14 grants were awarded to projects in the cryptography and zero-knowledge proofs (ZK-proofs) category. These projects focused on developing cryptographic techniques, building ZK-proof technology and researching security and post-quantum cryptography. Meanwhile, seven grant beneficiaries are focused on execution layer projects, while another seven are focused on the consensus layer. Nine grant beneficiaries were focused on protocol, general growth and support. An additional 13 grants fell under an “other” category, encompassing areas including decentralized finance, DApps, stablecoin infrastructure and business development. Related: Vitalik Buterin outlines vision as Ethereum ecosystem addresses hit new highEthereum’s Pectra upgrade goes live on the mainnetOn May 7, Ethereum’s much-anticipated Pectra upgrade went live. The update went live on the mainnet at about 10:00 am UTC, starting on epoch 364032. The upgrade included three EIPs, which are EIP-7702, EIP-7251 and EIP-7691. The upgrade focuses on improving layer-2 scaling data storage, validator user experience improvements and smart account wallet user experience features. Since the upgrade, Ether (ETH) prices have recovered from a slump, reaching a 30-day high of $2,400 on May 9. At the time of writing, the crypto asset traded at $2,345. Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths: AI Eye
Published: 5 days ago
Solana lacks ‘convincing signs’ of besting Ethereum: Sygnum
Solana has yet to show convincing signs that it could surpass Ethereum as the preferred blockchain for institutions, as its revenue, heavily reliant on memecoins, is considered unstable, according to crypto bank group Sygnum.In a May 8 blog post, Sygnum said that the current sentiment around Ethereum “remains poor,” with the market focused on Solana’s “transaction volumes and its recent dominance in fee generation.”However, Sygnum said “the medium-term outlook will primarily be shaped by traditional financial institutions’ platform choices to bring their product offerings,” not by sentiment.“We do not yet see convincing signs that Solana would be the preferred choice as Ethereum’s security, stability and longevity are highly prized,” it added.Sygnum argued that institutions could choose Ethereum over Solana as the market has viewed the latter’s revenue generation as “less stable” due to being “highly concentrated in the memecoin sector.”“This will limit outperformance as it could be argued that the differential in valuation is accounted for by this difference in revenue sources,” the company said.Transactions on Solana (purple) far exceed those on Ethereum and its layer 2s, but the latter has more value locked onchain. Source: Dune AnalyticsAnother factor is Solana’s tokenomics, which Sygnum said was “a comparable issue” to the criticism levelled at Ethereum over its mainnet’s stagnant transaction volumes due to it lowering the cost for its layer 2 networks.The company said Solana is leading Ethereum in market share for layer-1 fee generation, but “most of the fees are paid to validators and do not grow the value of the Solana token.”“In fact, when it comes to revenues, Ethereum still exceeds Solana 2- 2.5x,” Sygnum said.It argued that Solana’s tokenomics are “easier to modify” than Ethereum’s scaling strategy. Still, it said that Solana “does not appear inclined to drive more value to the token,” as its community shot down a proposal to cut the SOL’s inflation rate in March.Solana could gain with stable revenue focusSygnum noted that Solana, which some have hailed as an “Ethereum killer” that could challenge the network’s market share, could make some gains on the No. 2 blockchain.The company said Ethereum has the dominant market share in “use cases that are showing traction” with support from governments, regulators, and traditional finance — such as tokenization, stablecoins, and decentralized finance.However, it added that Solana had made progress in the amount of value locked on its decentralized finance protocols, and if it gains in “more stable revenue sources” such as tokenization and stablecoins, it could gain on Ethereum.Sygnum added that Solana still has a strong backing, even with the Ethereum Foundation reshuffling its priorities to the layer 1 and recognising “the need to adjust its go-to-market strategy.”However, that could give a sentiment tailwind to Ethereum as the blockchain’s “2-year-long underperformance vs Solana has been temporarily arrested” since the foundation’s pivot.Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Published: 5 days ago
Ether clocks ‘insane’ 20% candle post Pectra — A turning point?
Ether surged 20% in the past 24 hours following the launch of the Pectra upgrade, with some crypto traders suggesting the growing number of ETH long positions could mark a “turning point” for the asset that has faced uncertain sentiment throughout most of 2025.At the time of publication, Ether (ETH) is trading at $2,230, up 19.6% over the past 24 hours, according to CoinMarketCap data. Pseudonymous crypto trader Daan Crypto Trades said it was a “pretty insane candle.” Over the same 24 hours, Ether Open Interest (OI) spiked 21%. Ether price pump caught traders offsideThe surge followed the long-awaited Pectra Upgrade, which went live on May 7, introducing new wallet features, increased staking limits and scalability improvements to Ethereum. Popular crypto trader Alex Kruger said on May 8 that Ether’s price spike was primarily due to “new longs.”If Ether were to fall back to $2,000, approximately $2.06 billion in long positions would be at risk of liquidation, according to CoinGlass data. The price surge caught many traders offside, with approximately $328 million in Ether short positions liquidated over the same period.Crypto trader Bob Loukas said, “ETH holders thinking this might finally be the turning point.” 2025 has not been a strong year for Ether’s price, which fell 56% from its Jan. 1 price to $1,472 by April 9 — its lowest point this year — as sentiment weakened throughout the year.Ether is up 52% over the past 30 days. Source: CoinMarketCapEther’s recent rally coincides with Bitcoin (BTC) gaining 3.59% over the same period and nearly 6% over the past seven days, reclaiming the $100,000 mark on May 8 for the first time in over three months. In comments to Cointelegraph, onchain options protocol Derive founder Nick Forster said Ether’s recent price surge was due to a combination of factors, beyond just the Pectra hard fork. Forster pointed out the US trade deal with the UK, where US President Donald Trump “slashed tariffs on British cars and steel.” He also pointed to the crypto exchange Coinbase, which announced the acquisition of Deribit for $2.9 billion.Related: Ethereum price finally ‘breaking out,’ data suggests — Is $3K ETH next?Since 2013, Ether has averaged a 62.2% return in the second quarter. Based on its price on April 1, Ether could reach around $2,950 by the end of June if history repeats. However, the momentum has not crossed over with spot Ether ETFs yet. For the third day running, spot Ether ETFs posted outflows on May 8, totaling $16.1 million, according to Farside data.Meanwhile, the overall crypto market also saw an uptick in prices and sentiment following Bitcoin’s surge. Over the 24 hours, the entire crypto market surged 4.95%, and the Crypto Fear & Greed Index has moved further into “Greed’ territory, bumping up another 8 points to a score of 73.Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths: AI EyeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 5 days ago
Are layer 2s good for Ethereum, or are they ‘extractive?’
Layer 2s have been a great blockchain success story. They’ve reduced congestion on the Ethereum mainnet, driving down gas fees while preserving security.But maybe they’ve become too successful, drawing chain activity and fee income from the parent that spawned them? At least that’s what some are suggesting lately, most recently at Cornell Tech’s blockchain conference in late April.Indeed, some think Ethereum should be a little greedier, or at least fight harder for a bigger part of the revenue pie, particularly sequencing fees. “People in the Ethereum Foundation [the nonprofit that supports the Ethereum ecosystem] will tell you that, ‘Yes, we effed up by being too ivory tower.’ I have heard that multiple times,” said David Hoffman, an owner at Bankless, during a panel discussion at the Cornell Tech event in New York City on April 25. Hoffman, left, at Cornell Tech’s blockchain conference. Source: Andrew SingerElsewhere, Hoffman has urged Ethereum to make a “strategic pivot,” noting that the crypto environment has changed in the last few years. Ethereum no longer has the “luxury of being a peace-time research project…. exploited by its competition.”L2s are reaping millions of dollars in transaction order fees (sometimes called sequencing fees), but none of these revenues are being passed on to Ethereum, according to James Beck, head of growth at ENS Labs and another speaker at the New York City conference. Beck told Cointelegraph:So, this cultural layer of podcasters and researchers are saying, ‘Well, the price of ETH has been dropping compared to these other tokens. What do we do to make Ethereum more powerful?’In short, Ethereum is a neutral verification layer, but the Ethereum mainnet is not being fairly compensated for the work that it is doing. Centralized for-profit L2s like Base, Optimism and Arbitrum are gathering the lucrative sequencing fees while enjoying the security and liveness guarantees of the Ethereum mainnet at relatively little economic cost.L2s soared after Dencun upgradeL2 rollups are a recent innovation; they only emerged in 2023. The idea was to reduce chain congestion and gas fees by moving transaction processing from the main blockchain (layer 1) to separate chains that sit atop the mainnet (L2s). But transaction processing is arguably the most profitable part of the revenue game, especially when users opt to pay priority fees to get their orders processed faster.Fee-sharing was rarely much of an issue before Ethereum’s March 2024 Dencun upgrade, which introduced blob transactions to help scale layer 2s. Blobs significantly reduced the cost for L2s to post data to Ethereum, allowing them to operate more profitably, CoinMetrics researcher analyst Tanay Ved told Cointelegraph this week. Since then, L2 user demand has soared, especially on Base, the L2 launched by Coinbase in August 2023 on the Ethereum mainnet. As Ved noted in an April 8 blog, Base has earned a total of ~$98 million in revenues from user-transaction fees (including base and priority fees), “while paying only ~$4.9M to the Ethereum base layer, resulting in a total estimated profit of $94M since the Dencun upgrade.” Ved added:This dynamic has led to many questioning whether Layer-2s are net positive for Ethereum, or whether they are ‘extractive.Base’s responseAsked about fees, a Base spokesperson told Cointelegraph, “Today, Base already pays Ethereum fees for every transaction on Base. All transactions are settled on Ethereum, and so far, Base has paid Ethereum more than $20 million in settlement fees since Base’s inception.” One can see these fees on Token Terminal under “cost of revenue,” the spokesperson added. “Overall, Base makes getting onchain more accessible with fast and cheap transactions and helps grow the Ethereum ecosystem by onboarding more users, builders, apps and assets, all of whom are transacting in ETH and driving demand,” said the spokesperson.Related: Institutions break up with Ethereum but keep ETH on the hookHowever, in many, if not most months, Base’s overall fees are roughly 10 times the amount paid to Ethereum for settling trades, according to examination of the referenced Base financial statement. In April, for instance, the most recent full month, Base reaped $3.7 million in fees, but only $305,000 was delivered to Ethereum as settlement fees — about 8% of total fees.Still, maybe things aren’t quite so dire. Even if fees are out of kilter now, the imbalance may not last, others caution. Ethereum hard forks like Pectra, which went live yesterday (May 7), and Fusaka, scheduled for late 2025, will increase blob throughput. “This means L2s will be able to post more blobs, potentially driving higher total blob fees to mainnet,” Ved told Cointelegraph. Ethereum is already consistently hitting the current blob target of three per block, as the chart below shows. “Pectra will raise this to six blobs per block — with a max of nine — creating room for increased fee capture as L2 activity scales,” added Ved.Average blobs per block and their total blob fees (USD) on Ethereum. Source: CoinMetricsAre “based rollups” the answer?Some Ethereum researchers, podcasters — and even L2s — have been leaning into “based rollups” as a more permanent way to fix the fee problem and provide better security in the bargain. Here, transaction ordering (i.e., sequencing) would be done on the mainnet, not on L2s.The sequencers used by Optimism, Arbitrum One, Base and others are more prone to attack or failure, given that they are centralized, with a single point of failure, some researchers say. Polygon’s Jarrod Ward writes:If a centralized sequencer goes down, the rollup effectively stops doing its job entirely. It stops handling transactions from users on the L2 and also stops sending batch data back to Ethereum.“Layer-2 sequencers have become dangerously centralized,” added Tom Ngo, executive lead at Metis — an Ethereum layer-2 blockchain. Last June’s $2.6-million hack of Ethereum layer-2 blockchain Linea drove home to Ngo and others the importance of decentralization and the perils of centralized sequencers. Related: ‘Vitalik: An Ethereum Story’ is less about crypto and more about being humanSeveral based-rollup L2s have launched this past year. Taiko Alethia, the first and largest, went live in May 2024. A year later, it had $148.3 million in total value secured — ranking 14th on L2Beat’s list of L2s, though far behind leader Base’s $12.06 billion. Top Ethereum layer 2s ranked by total value secured. Source: L2BeatSpeedwise, Taiko was averaging a respectable 20.3 user operations per second (UOPS) on May 7, a far cry from Base’s 86.3 UOPS, but on par with Arbitrum One’s (21.6 UOPS) and significantly better than Optimism’s (10.3 UOPS).A tax on L2s?Another idea floated in the Ethereum community is imposing a sort of tax on L2s. But doing this could have some unintended consequences, according to Ved. It could make L2s less competitive. It also risks “leakage of activity to competing layer 1s outside the Ethereum ecosystem.” Activity that flows to Base today could flow instead to Solana or other L1s, Ved said.There could be philosophical issues, too, were Ethereum to lay a surcharge on its L2s. Ved noted:A tax could be seen as contrary to Ethereum’s ethos of decentralization, which would opt for market-driven forces rather than enforcing a tax.Generally speaking, the Ethereum Foundation seems to be prioritizing long-term growth over short-term revenue, Ved explained. Proposals like EIP-7762, though, which raises the minimum blob base fee to speed up price discovery during demand surges, could drive more fee income to Ethereum mainnet, having an effect like a tax. Social pressure?According to ENS Labs’ Beck, it may take some social pressure to get the leading centralized L2s to voluntarily give up their sequencing fees. Other L2s like Linea may need to step in and say to centralized L2s something along the lines of: “Look, you guys have these risks inherent in a more centralized design, and here’s the chance to bake [the order processing] into Ethereum, which is more decentralized.”Along these lines, ENS took part in a three-day workshop in the UK in January with leading researchers and developers from entities like Linea, Status, OpenZeppelin, Titan, Spire Labs and the Ethereum Foundation. The immediate task was how to create scalable, decentralized infrastructure for ENS Labs’ Namechain, but also to bring together various Ethereum ecosystem teams to collaboratively solve L2 interoperability challenges with based rollups. It’s not always easy to get things done in a flat (non-hierarchical), multi-voice entity like Ethereum, Beck acknowledges. “Ethereum is a decentralized ecosystem. You can’t get everyone on the same page all at once.” But a collaboration like the recent one that took place in the UK is a start. Cornell Tech conference panelist Hoffman expressed some confidence that Ethereum could pivot and “turn the layer 1 into a rollup” with processing speeds comparable to today’s L2s. As noted, Hoffman has criticized the Ethereum Foundation for being too insular and academic, but he sees signs that things may be changing now, writing recently:The appointment of co-executive directors Tomasz Stańczak and Hsiao-Wei Wang marks a new era of accountability, direction, and internal cohesion.“I’m feeling optimistic,” added Beck. “Ethereum still has the most assets locked for DeFi; the most stablecoins are on Ethereum. BlackRock has a fund that’s settling on Ethereum.” Put another way, Ethereum is still well-positioned to provide the infrastructure for the “network of networks” — i.e., the smoothly interacting network of multitudinous private and public blockchains that many hope will be the technology’s future.Magazine: 12 minutes of nail-biting tension when Ethereum’s Pectra fork goes live
Published: 6 days ago
Ethereum price finally ‘breaking out,’ data suggests — Is $3K ETH next?
Key takeaways:Ether breaks multimonth downtrend as traders target $3,000 ETH price.Ethereum TVL surges 41% to $52.8 billion in 30 days, with a 22% rise in daily transactions to 1.34 million, signaling strong network recovery.Technicals show ETH price faces major resistance at $2,100-$2,800.Ether is setting up for a recovery toward the $3,000 psychological level, backed by recovering network activity, increasing TVL, and strong technicals. Ether price seeks a return to $3KEther (ETH) looks to end its downtrend that has been in play since mid-December after it turned away from its 10-month high of $4,100.Crypto technical analyst Mikybull Crypto shared a chart showing the ETH price breaking above a six-month descending trendline, with $2,000 and $2,250 being key resistance levels to watch, saying:“ETH breaking out.”Ether’s price broke above the downtrend line at $1,600 on April 22 when cooling macroeconomic tensions sparked a marketwide recovery. Related: Pectra features already in use: Ethereum EIP-7702 wallets roll outThe 50-day simple moving average (SMA) at $1,775 is now acting as immediate support for Ether’s price. The relative strength index has risen sharply, jumping from 56 to 66 over the last 24 hours, suggesting bullish momentum is picking up. ETH/USD daily chart. Source: Cointelegraph/TradingViewKey levels to watch on the upside are the 100-day SMA at $2,100 and the supplier congestion zone between $2,500 and $2,800, where the 200-day SMA lies. Overcoming these barriers will likely push ETH prices higher, with $3,000 representing the short-term target for the bulls.Crypto analyst Crypto Claws said the ETH/USD pair was “primed for a bullish reversal,” setting the upside target between $2,500 and $3,500. $ETHUSD 1D chart looking primed for a massive bullish reversal! Potential short-term dip to $1450, but that's just fuel for the next leg up. Targets: $2500, then $3500! Get ready for a significant price surge! #Ethereum #Bullrun2025 #Crypto pic.twitter.com/MXLBOIRmYF— Crypto Claws (@cryptoclaws_) May 7, 2025Meanwhile, Crypto Salamanca told his X followers that with the latest Pectra upgrade-fueled momentum, “ETH could target $2,150–$2,700 in the coming weeks.”Ethereum onchain metrics show strengthEthereum remains the largest layer-1 blockchain based on the total value locked (TVL) and ranks second in DEX volumes. Ethereum’s TVL has risen from $44.5 billion on April 9 to $52.8 billion on May 8.ETH TVL and transaction count. Source: DefiLlamaAdditional positive signs include a 50% increase in deposits on BlackRock BUIDL, a digital liquidity fund application, a 33% increase in Spark and 25% growth in Ether.fi.Ethereum’s daily transaction count has increased by 22% over the last month to 1.34 million transactions. However, the 95% drop in Ethereum fees year-to-date suggests that Ethereum’s rise to $3,000 might take longer than traders may wish.Ethereum network’s daily fees. Source: DefiLlamaLow transaction activity on Ethereum reduces ETH burning, making it inflationary as new coins issued for staking rewards outpace the network’s burn mechanism.In addition, US-listed spot Ether ETFs saw $39.7 million in net outflows between May 5 and May 7, while similar BTC instruments experienced net inflows of $482 million over the same period, adding to recovery concerns.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 6 days ago
Pectra features already in use: Ethereum EIP-7702 wallets roll out
The Ethereum Pectra upgrade introduced a significant upgrade in account abstraction accessibility, with multiple wallets already implementing the change.Pectra introduced Ethereum Improvement Proposal (EIP) 7702, a change that Ivo Georgiev, founder and CEO of self-custodial smart wallet Ambire, described as “the single greatest UX upgrade to Ethereum so far.” Ambire is among the wallet providers that have already rolled out support for the new features since Pectra went live yesterday.Ambire’s announcement shared with Cointelegraph explains that EIP-7702 brings smart account functionality to existing user accounts, letting them temporarily act as smart contracts. This results in the advantages of account abstraction being accessible without creating new dedicated onchain addresses, rendering the transition of existing addresses possible.Another wallet that launched new features was Trust Wallet, allowing users to pay gas (transaction fees) in tokens such as stablecoins instead of Ether (ETH). The new wallets are also programmable and still ensure self-custody.Source: Trust WalletRelated: AI and account abstraction keys to mass Web3 adoption: X Spaces recap with Plena FinanceAmbire’s take on the updateAccording to an Ambire announcement shared with Cointelegraph, key features users can now enjoy without switching accounts include a crosschain by default architecture, with one dashboard showing balances on all chains. One wallet can be used across all blockchains, gas fees are abstracted and the system uses a decentralized finance (DeFi) aggregator Li.Fi for its swap and bridging needs.The company also promises transaction simulation across all supported chains, scam application detection and minimal token approvals. This statement follows some developers raising concerns that EIP-7702 provided a new avenue for phishing campaigns to empty entire wallets at once.Ambire also claimed that it does not rely on third-party services, allowing for better privacy features and higher reliability (no third party whose outage will result in a wallet outage). The firm also said that the new accounts are more accessible to AI agents:“Account programmability enables AI agents to act upon your account in the future to enhance your portfolio yield, save your DeFi positions, claim airdrops automatically and more.”Georgiev claimed that Ambire’s offering is the first on the market since Trust Wallet announced that it will be “live soon.” Ambire’s updated system was deployed minutes after the update during a live X conference.Related: How smart accounts and account abstraction can unlock Ethereum’s full utilityTrust Wallet’s new systemsTrust Wallet’s announcement describes the upgrade as the biggest since Ethereum’s full transition to proof-of-stake in the “merge” event. The firm’s CEO, Eowyn Chen, said:“EIP-7702 changes the game.”Trust Wallet promises its users will be able to pay fees in tokens that are not Ether and bundle multiple actions in one transaction, for instance, approving, swapping and signing a transaction all at once. The new wallet will also support sponsored transactions where third parties can cover gas fees to onboard new users and automated actions such as subscriptions, dollar-cost averaging and more.All those features will become available to existing users without re-creating new accounts with new seed phrases. Like Ambire, Trust Wallet also developed its account abstraction infrastructure in-house, minimizing data sharing and reliance on third parties.“Our vision is to evolve wallets from static key holders into intelligent, user-friendly agents,” Chen said.Magazine: They solved crypto’s janky UX problem — you just haven’t noticed yet
Published: 6 days ago
Can you mine Bitcoin with a gaming PC? Here’s what you need to know
Is your gaming PC capable of mining crypto? As of May 2025, Bitcoin mining is looking attractive again. With Bitcoin (BTC) trading around $95,000 and transaction fees hitting new highs after the 2024 halving, mining rewards — though smaller — are worth chasing. From home setups to industrial-scale farms, the question of whether Bitcoin mining is profitable is back in the spotlight.And if you’re a gamer, chances are you’ve looked at your rig and wondered: Can a gaming PC mine crypto? After all, modern gaming computers are packed with powerful GPUs, solid cooling and lots of downtime, especially if you’re not gaming daily. It’s a fair question: Can you mine Bitcoin with a gaming PC?The short answer: Yes, but it won’t be worth it. The long answer: Understanding Bitcoin miningMining is the process that adds new BTC to circulation. More importantly, it’s how the Bitcoin network stays secure and functions without a central authority. Every time someone sends or receives Bitcoin, miners verify and record that transaction.This is all powered by proof-of-work (PoW), a consensus mechanism where miners race to encode transactions in a format that is acceptable to the network. It’s essentially just a massive guessing game, where miners try different inputs until one generates a hash with enough leading zeroes to meet the network’s current difficulty target.For example, a valid Bitcoin block might start with something like 00000000000000000000956e9ff76455.... The first miner to hit that valid hash wins the reward: currently 3.125 BTC, plus transaction fees.The issue is, to generate that many leading zeroes in 2025, you’re looking at around 10³¹ hash attempts on average to produce a valid hash.As you can imagine, that takes a lot of power.Did you know? The energy used to mine a single Bitcoin block today could power an average US household for over 10 years. That’s the cost of making sure the network stays decentralized and tamper-proof. From CPUs to ASICs: How mining hardware evolved It didn’t use to be this hard to mine Bitcoin. As more miners joined the network and the total computing power surged, the protocol automatically ramped up the difficulty. That’s by design. Bitcoin adjusts to keep block times steady at around 10 minutes, no matter how much horsepower is thrown at it.Back in 2009, Bitcoin mining for beginners meant using a regular laptop CPU. Then came the rise of GPUs — graphics cards originally built for gaming — which dramatically improved mining performance.But then came ASICs, application-specific integrated circuits, designed solely to mine Bitcoin. These machines are vastly more powerful and energy-efficient than any GPU. By 2015, they had effectively taken over the mining scene.Fast forward to 2025: ASICs still reign supreme. If you’re wondering about the best setup for mining Bitcoin on PC, know that ASIC vs. GPU mining isn’t a fair fight anymore. That doesn’t mean your gaming rig is useless, but it does mean you’ll want to consider alternative strategies.Did you know? After Sept. 30, 2025, 4GB GPUs will no longer work due to DAG size limits. Gaming PCs vs. ASIC miners Bitcoin mining with a gaming PC, even with a high-end GPU like the RTX 4090, is inefficient and unlikely to be profitable due to low performance, high energy costs and hardware wear-and-tear compared to ASIC miners.Performance: Can your GPU keep up?Let’s say you’re using an Nvidia GeForce RTX 4090 — top of the line. Sounds heavy-duty, right?Not for Bitcoin GPU mining.That card might do well on other algorithms like Ethash (used in Ethereum Classic), but when it comes to Bitcoin’s SHA-256, it barely scratches the surface. Even the mighty RTX 4090 gets crushed by ASICs. A high-end ASIC like the Antminer S21 Pro pumps out 200 terahashes per second (TH/s) — that’s trillions of hashes per second, compared to maybe a few hundred megahashes per second from a GPU. That’s a millionfold difference.Efficiency: The electricity bill tells the real storyLet’s talk about power. A GPU like the 4090 pulls around 450 watts. But the hashing performance it delivers is minuscule compared to the watts consumed. ASICs, by contrast, draw more power (e.g., 3,500 watts) but deliver far better output — roughly 17.5 joules per terahash.In short, even if you’re mining Bitcoin on a gaming PC 24/7, the energy cost per dollar earned is painful. Is Bitcoin mining profitable with a gaming PC? Not really. Especially when you factor in cooling, hardware strain and your local energy prices.Economics: Does it make any sense?Even with low electricity rates, the ROI on mining Bitcoin from home with a gaming computer is near zero — if not outright negative. Solo mining? Forget it. The chances of hitting a block are microscopic. Pool mining? Your contribution is so small compared to ASIC farms that the payouts will be negligible.And then there’s the wear and tear. GPUs weren’t designed to run at full capacity around the clock. Long-term mining can shorten their lifespan and may void warranties.Did you know? WhatToMine is a useful site that shows what coins are most profitable to mine with your exact setup. Just plug in your GPU, and it does the rest. Alternative cryptocurrencies for gaming PCs If Bitcoin mining on PC feels like bringing a Nerf gun to a tank fight, don’t lose hope. There are still coins designed to be mined with GPUs in 2025 — and some even reward users fairly for it.Let’s take a look at such cryptocurrencies:Ethereum Classic (ETC): GPU-friendly legacy chainStill using the Ethash algorithm, Ethereum Classic (ETC) is a solid option for GPU miners. Blocks are mined every 13 seconds with a 3.2 ETC reward. Ravencoin (RVN): Built for the peopleRavencoin uses KAWPOW, an algorithm specifically designed to resist ASIC domination. It’s friendly to GPU miners and offers quick one-minute blocks with 2,500 Ravencoin (RVN) rewards. Mining altcoins with GPU setups is still very viable here.Monero (XMR): Privacy-first and CPU/GPU accessibleMonero relies on the RandomX algorithm, making it accessible to both CPU and GPU miners. You won’t get rich, but it’s a way to earn passively, especially if you’ve got cheap electricity and want passive income from mining.
Published: 6 days ago
Ethereum Pectra upgrade adds new features — How long before ETH price reacts?
Key takeaways:Reclaiming the $2,200 level remains the first price challenge for ETH. ETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity. Ethereum successfully implemented a key network upgrade on May 7, but Ether (ETH) price and its derivatives metrics showed little response to the upgrade. The lackluster response surprised traders and led analysts to question whether ETH still has a real chance of climbing 22% to retake the $2,200 level.Ether 30-day futures annualized premium. Source: Laevitas.chThe ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator was unchanged at 3% after the Pectra upgrade, suggesting traders did not adjust their positions despite the upgrade’s successful deployment. The subdued response can be partly explained by investors’ focus on macroeconomic issues, as recession risks arise amid uncertainty in global trade disputes. But traders’ lack of interest in Ether predates the recent worsening of risk aversion conditions. In fact, ETH underperformed the broader cryptocurrency market capitalization by 28% in the first three months of 2025. The lackluster price impact following the Pectra upgrade reflects broader dissatisfaction, as competing blockchains have gained traction.Solana monthly active addresses vs. layer-1 competitors. Source: Token TerminalHistorically, high Ethereum base layer fees may have limited network activity, but these costs have dropped below $1 since mid-February. Additionally, Ethereum’s leading layer-2 solution, Base, currently boasts 10.3 million monthly active users-far fewer than Solana’s 82.2 million and BNB Chain’s 25.9 million, according to Token Terminal data.Ethereum lags in DApp interoperability — Will it hurt ETH price? Solana has dominated the decentralized exchange sector, particularly in token launches, by offering an integrated user experience. Similarly, Hyperliquid has exceeded expectations in perpetual futures trading, demonstrating that traders’ primary focus is not necessarily on Ethereum’s decentralization and security. Meanwhile, Tron has made significant inroads in the stablecoin market.Blockchains and DApps 30-day fees, USD. Source: DefiLlamaEthereum’s leadership in total value locked (TVL) remains undisputed at $53.7 billion. However, this has provided little benefit to ETH holders, as network fees have been relatively low at $19 million over the past 30 days, according to DefiLlama. For comparison, Tron has amassed $51.8 million in fees in the same period, while Solana has accrued $39.4 million.Source: X/ProbablyNoamNoam Hurwitz, head of engineering at Alchemy, noted that Ethereum blob fees have dropped to their lowest possible level since the Pectra upgrade. For Hurwitz, Ether’s success depends on base layer scalability, including further improvements in the rollup mechanism, and ultimately, a more seamless user experience.Related: Standard Chartered predicts BNB will more than double in 2025Bridging assets and data across Ethereum’s layer-2 ecosystem has long been a challenge, while users on Solana and BNB Chain can easily switch between multiple decentralized applications (DApps). The Pectra upgrade, while a step in the right direction, does not resolve this issue, which explains why ETH has been unable to reclaim the $2,200 level seen in early March.For Ether’s price to climb 22% from its current $1,810 level, investors likely need reassurance that the network’s progress, whether through deposits or layer-2 growth, translates into clear benefits. Ultimately, improved staking yields or stronger incentives are needed to drive broader adoption of DApps, which in turn would generate increased demand for ETH within the ecosystem.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 7 days ago
Price predictions 5/7: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Key points:Bitcoin price hangs near $97,000 as traders await today’s FOMC minutes.Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.Select altcoins are holding their respective support levels, opening the gates for a short-term rally.Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks.Investors have also been piling into BlackRock’s spot Bitcoin exchange-traded fund for the past 16 days, which has boosted its new capital inflows to about $4.7 billion, according to ETF Store President Nate Geraci.Bloomberg ETF analyst Eric Balchunas also suggested that the spot Bitcoin ETF “will have triple gold’s ETF assets under management in 3 to 5 years.”Crypto market data daily view. Source: Coin360According to Bitfinex data, Bitcoin must hold above $95,000 to signal a “structural shift” into bullish territory, opening the doors for a rally to an all-time high. However, if the $95,000 level cracks, the analysts expect Bitcoin to witness a deeper correction.Could Bitcoin challenge the $100,000 resistance? Are select altcoins showing signs of a short-term up move? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin rebounded off the 20-day exponential moving average ($93,091) on May 6, indicating that the sentiment remains positive and traders are buying on dips.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at $97,895, but if the level is crossed, the BTC/USDT pair could challenge the psychological resistance at $100,000. Sellers are expected to vigorously defend the level because a break above it could propel the pair to $107,000.Time is running out for the bears. If they want to make a comeback, they will have to sink and sustain the price below the 20-day EMA. If they succeed, the pair could tumble to the 50-day simple moving average ($87,441).Ether price predictionThe bears are struggling to pull Ether (ETH) below the moving averages, indicating a lack of selling at lower levels.ETH/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will try to take advantage of the situation and push the price above the immediate resistance at $1,873. If they do that, the ETH/USDT pair could pick up momentum and soar toward $2,111. There is minor resistance at $1,957, but it is likely to be scaled. Sellers are likely to have other plans. They will try to tug the price below the moving averages, opening the gates for a fall to $1,537. Buyers will try to defend the $1,537 level, but if they fail in their endeavor, the pair may collapse to the vital support at $1,368.XRP price predictionXRP (XRP) fell below the moving averages on May 4, but the bears could not sink the price to the $2 support.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI just below the midpoint suggest that the XRP/USDT pair may remain stuck between the resistance line and the $2 support for some more time.A break and close above the resistance line signals a potential trend change. The pair could then rally toward $3. Conversely, a break and close below $2 opens the gates for a collapse to the $1.72 to $1.61 support zone.BNB price predictionThe failure of the bears to sustain BNB (BNB) below the moving averages indicates demand at lower levels.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will have to try and overcome the barrier at $620 to clear the path for a rally to the strong overhead resistance at $644. Sellers will try to halt the recovery at $644, but if the bulls prevail, the next stop could be $680.This positive view will be invalidated in the near term if the BNB/USDT pair turns down and breaks below the $576 support. That heightens the risk of a fall to $520. Buyers are expected to aggressively defend the $500 to $520 zone.Solana price predictionSolana (SOL) is finding support at the moving averages, signaling a positive sentiment where dips are being purchased.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to strengthen their position by pushing the price above the $153 resistance. If they can pull it off, the SOL/USDT pair could climb to $180 and then to $200. That signals the pair may swing inside the large $110 to $260 range for a while.Sellers will have to drag the price below the 20-day EMA to prevent the upside. The pair could then tumble to the 50-day SMA ($133). That indicates a consolidation between $110 and $153 for a few days.Dogecoin price predictionDogecoin (DOGE) has been clinging to the moving averages, signaling a balance between supply and demand.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes below the moving averages, the bears will try to pull the DOGE/USDT pair to the support of the range at $0.14. The bulls will attempt to keep the pair inside the range by buying near $0.14.On the upside, buyers will have to drive and maintain the price above $0.21 to suggest a short-term trend change. The pair could rally to $0.25 and subsequently to the pattern target of $0.28.Cardano price predictionCardano (ADA) is witnessing a tough battle between the buyers and sellers near the moving averages.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price moves up from the current level, it is expected to face selling at $0.75. A break and close above $0.75 could propel the pair to $0.83.On the downside, there is solid support at $0.58. If the price rebounds off $0.58, the ADA/USDT pair could form a range. Sellers will seize control on a break below the $0.58 support. The pair may then descend to the $0.54 to $0.50 support zone.Related: Can XRP price reach $4 in May? Analysts are watching these key levelsSui price predictionSui (SUI) rebounded off the 20-day EMA ($3.14) on May 6, indicating that lower levels are attracting buyers.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThere is minor resistance at $3.50, but if it is crossed, the SUI/USDT pair could ascend to $3.90. Sellers are expected to defend the $3.90 level with all their might because a break above it could propel the SUI/USDT pair to $4.25 and eventually to $5.Instead, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are rushing to the exit. The pair risks dropping to the solid support at $2.86 and then to the 50-day SMA ($2.61).Chainlink price predictionChainlink (LINK) is finding support at the 50-day SMA ($13.66), but the failure to start a strong rebound suggests the bears have kept up the pressure.LINK/USDT daily chart. Source: Cointelegraph/TradingViewIf the 50-day SMA gives way, the LINK/USDT pair could slump to $11.68. Buyers will try to defend the level, but the relief rally is likely to face selling at the moving averages. If the price turns down from the moving averages, the pair could fall to the support line of the descending channel.Contrarily, if the price turns up from the current level and maintains above the 20-day EMA ($13.99), the pair could rally toward the resistance line. Buyers will have to pierce the resistance line to signal that the downtrend could be over.Avalanche price predictionAvalanche (AVAX) has slipped below the 50-day SMA ($19.90), indicating that the range-bound action could continue for a few more days. AVAX/USDT daily chart. Source: Cointelegraph/TradingViewIf the price skids below $18.50, the AVAX/USDT pair could drop to the support of the range at $15.27. Buyers are expected to aggressively defend the $15.27 level, as a break below it may resume the downtrend.Alternatively, a bounce off the current level suggests the bulls are trying to keep the pair inside the upper half of the range. Buyers will have to drive the price above $23.50 to start an up move to $28.78 and then to the pattern target of $31.73.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published: 1 week ago
Ethereum’s ‘Pectra’ network upgrade goes live: What to expect
Ethereum — the network that unleashed smart contracts on the world — moves on to the next chapter with today’s Pectra upgrade, but what does it mean?Pectra went live on the Ethereum mainnet at the start of epoch 364032, May 7, 2025, at about 10:00 am UTC. The three main Ethereum improvement proposals (EIPs) included are EIP-7702, EIP-7251 and EIP-7691.Source: Ethereum.orgEIP-7702 allows externally owned accounts to act as smart contracts and cover gas expenses (transaction fees) and payments in tokens that are not Ether (ETH). EIP-7251 increases the validator staking limit from 32 ETH to 2,048 ETH, which makes operations for large stakers easier and simpler.Finally, EIP-7691 increases the number of data blobs per block, which allows for better layer-2 scalability and potentially significantly reduces transaction fees. Sergej Kunz, co-founder of Ethereum decentralized exchange (DEX) aggregator 1inch, said Pectra “introduces ‘smart account’ functionality” at deeper protocol levels and “improves Ethereum’s scalability” through layer-2 solutions.Related: Ethereum to simplify crosschain transactions with new token standardsBetter account abstraction0xAw, lead developer at Base Ethereum layer-2 DEX Alien.Base told Cointelegraph that EIP‑7702 “is a potentially great addition for Ethereum.” He said that account abstraction has so far been unable to gain traction due to the need to switch wallets.The positives of adopting such a solution include “getting rid of approval flows, not having to sign each transaction, segregated permissions and actions, and automations on behalf of the user.” 0xAw added that, following the update, developers will have an easier time implementing the features.While account abstraction “won’t magically result in mass adoption,” it still “does remove a significant barrier to entry for new people.” He added:“It enables a Web2-like UX by hiding many of the underlying scaffolding from users.”1inch’s Kunz said the update will pave “the way for native gasless transactions and simplified user flows.” Ivo Georgiev, founder and CEO of self-custodial smart wallet Ambire, told Cointelegraph that “there will be no more infinite ERC-20 approvals, and users won’t need native currency like ETH to pay transaction gas fees.” He added:“Following this, the UX will be reworked completely, with permissions/delegations systems that let wallets give more limited abilities to apps, thus increasing their overall security — for example, you won’t need the wallet popup every time you interact with OpenSea.“Still, the change is not without its downsides. According to 0xAw, “users have one more dangerous thing they could sign, which would be even more damaging than an approval to wallet drainers.”Mike Tiutin, chief technology officer at onchain compliance protocol PureFi, told Cointelegraph that “drainers proved that users will sign ‘harmless’ messages in cloned DApps.” The risk will now get worse:“EIP-7702 expands that trick from one token to the whole wallet.“Georgiev is more optimistic, saying he is “confident there will not be a tangible increase in risk.” He explained, “By this point, the industry knows how to create a secure contract, especially with such a minimal scope as an EIP-7702 delegation.”Related: Vitalik wants to make Ethereum ‘as simple as Bitcoin’ in 5 yearsEasier institutional stakingArtemiy Parshakov, vice president of institutions at Ethereum staking service P2P.org, told Cointelegraph, “EIP-7002 makes institutional staking much easier to integrate without taking too much risk.” Staking service clients had to obtain a signed message from their staking service provider to be able to exit and store it securely for later.Until Pectra, stakers could not exit without the participation of the staking service provider. Those messages also couldn’t be generated until about 13 hours after starting staking — now this exit delay will be decreased to about 13 minutes.Supply validator deposits onchainAnother notable upgrade is EIP-6110. This makes the execution‑layer block carry data about new validator deposits to the consensus layer. Validator deposits are new validators joining Ethereum’s staking protocol.Consensus clients previously waited for block proposers to vote on a Merkle root that summarized deposits. Now, the execution-layer block includes (supplies) a list of new verifier deposits. This sort of upgrade makes changes very deep in Ethereum’s consensus layer, and its introduction follows client bugs breaking the Holesky and Sepolia Ethereum test networks. Still, Parshakov said that his firm’s biggest concerns “are client bugs, but we trust that respectable teams and the Ethereum Foundation are working together to prevent it from happening on mainnet.”Magazine: 12 minutes of nail-biting tension when Ethereum’s Pectra fork goes live
Published: 1 week ago
Standard Chartered predicts BNB will more than double in 2025
Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph. The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report. As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.Price forecasts for BNB. Source: Standard Chartered“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. “We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to USD 2,775 by end-2028.”Related: How much Bitcoin can Berkshire Hathaway buy?“Old-fashioned” networkThe BNB token is the native cryptocurrency of Binance BNB Chain, a layer-1 (L1) blockchain network affiliated with the world’s largest centralized exchange (CEX). The BNB Chain has less developer activity than L1s such as Ethereum or Avalanche, and its ecosystem is comparatively “old-fashioned,” Standard Chartered said. BNB’s ecosystem is heavy on DEXs. Source: Standard CharteredMore than 60% of the network’s onchain economic activity involves decentralized exchanges (DEXs), compared to a more diverse spread on other L1s, it said.However, the asset manager noted that this could also serve as a source of stability for BNB Chain. “Assuming Binance remains one of the largest CEXs, BNB’s value drivers are unlikely to change anytime soon,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. “Given this, we see potential for BNB to serve as a form of benchmark, or average, for digital asset prices more broadly,” he added. BNB Chain is the fourth-largest L1, with nearly $6 million total value locked (TVL), according to data from DeFiLlama.On May 5, asset manager VanEck filed to list the first BNB exchange-traded fund (ETF) in the United States.Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Published: 1 week ago
Frictionless flows are Ethereum's path to economic dominance
Opinion by: Barna Kiss, CEO of MaldaAn idea recently floated by some prominent thinkers in the Ethereum space to reclaim value for the mainnet is the taxing of its Layer-2s. The future of Ethereum does not depend on policy but on enabling frictionless capital movement between the L2s in question. Tariffing rollups may appear a neat way to reclaim value for the mainnet. In practice, it would fragment the ecosystem, drain liquidity, push users toward centralized platforms, and avoid decentralized finance altogether. In a permissionless system, capital flows to where it is treated best, and Ethereum's rollups mistreat it.Liquidity fragmentation is Ethereum's real threatIn traditional finance, the link between fluidity and growth is well established. Lower barriers to capital inflows lead to higher investment. Take the European Union's pre-Brexit single market. Investment flows slowed when the United Kingdom's exit fragmented access to capital pools, as economists tracking cross-border activity noted. Ethereum faces a decentralized parallel. Rollups, particularly those that are optimistic and ZK-based, impose delays of up to a week on withdrawals and offer only patchy cross-rollup liquidity. The result is a fragmented system in which adoption slows, and capital is underused.Developers are left with two poor choices. Either they focus on one rollup and limit their audience, or fragment liquidity across several and accept inefficiencies. Neither option serves the ecosystem's long-term interests. A significant opportunity lies, therefore, with protocols that remove these frictions. They will attract more capital, operate more efficiently, and deliver better experiences.Recent: 3 reasons Ethereum could turn a cornerCapital movement must be abstracted away from the end-user. Bridges and withdrawal queues should become protocol-level concerns, not user problems. It is feasible for liquidity deployed on one rollup to satisfy demand on another, with background rebalancing ensuring solvency and efficiency. What today seems complex can be made invisible.This design shift from reactive bridging to intent-based liquidity coordination would restore composability and preserve decentralization. More importantly, it would uphold Ethereum's core principles of building open systems without central gatekeepers. Without it, users will continue to rely on centralized exchanges to bypass friction, compromising self-custody for convenience. This is not just a technical challenge — it is a philosophical one.Designing around friction is the competitive edgeDesigning around capital efficiency is becoming a competitive edge. Tomorrow's DeFi protocols will not simply compete on fees or yield. They will compete on how well they can access liquidity across a fractured landscape. The winners will be those that can fulfill a user's request wherever the user is without requiring them to move funds manually. The result will be better UX, more productive capital, and higher network stickiness.Some underlying technologies are beginning to address the problem. Ethereum-native rollups, planned after a hard fork in 2026, promise closer integration, and while they are still not ready for deployment, based rollups offer tighter alignment with Ethereum by sharing sequencing and improving settlement while sacrificing some independence. In the meantime, optimistic rollups are racing to implement zero-knowledge proofs to speed up exits. These innovations reduce friction, but they are not enough on their own. Scale will come from applications designed around these constraints, not from the base layers alone.Zk-Rollups are particularly well suited for this. Their cryptographic structure allows for low-latency and trust-minimized messaging between chains. This makes them ideal for applications like payments, decentralized trading, and real-time financial products, all of which demand speed and certainty. If Ethereum can make such cross-rollup flows seamless, it will not just scale. It will become the backbone of a more efficient financial system.That outcome is not guaranteed. Tariffing rollups may serve short-term goals, but in the long run, they would weaken the very network Ethereum aims to strengthen. Solana, for example, already offers composability within a single domain. While Ethereum's modular approach is arguably more robust, it cannot afford to ignore the usability cost of fragmentation.Ethereum's greatest strength is its neutrality. That should include the ability of capital to move freely within its ecosystem. The future will not be built by taxing rollups. It will be built by enabling them to function as one economic engine.Opinion by: Barna Kiss, CEO of Malda. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published: 1 week ago
Fresh $1B in Tether mints on Tron, closing gap again with Ethereum
The Tron network has drawn closer to regaining the lead from Ethereum in Tether circulation after another big mint by the US stablecoin issuer.On May 5, Tether minted another $1 billion Tether (USDT) on the Tron network, according to Arkham Intelligence. This brings the total USDT on Tron to $71.4 billion, according to the Tether Transparency report. In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network, so just $1.4 billion more USDT on Tron will see it become the leading network for the world’s largest stablecoin issuer, as it has been previously over the last two years. Tron was ahead of Ethereum for USDT circulation between July 2022 and November 2024, but a large $18 billion mint on Ethereum pushed the network ahead again, according to CryptoQuant. The third-largest network for USDT is Solana, which has $1.9 billion circulating, and there are smaller amounts on Ton, Avalanche, Aptos, Near, Celo and Cosmos. USDT circulation on Ethereum and Tron. Source: CryptoQuantTether’s total circulation is currently at a record high of $149.4 billion USDT, having increased by 8.6% since the beginning of this year. This gives the firm a commanding stablecoin market share of 61%, according to CoinGecko. Related: Tether AI platform to support Bitcoin and USDT payments, CEO saysIts closest competitor, Circle, has a market share of 25% with almost $62 billion USDC (USDC) in circulation.Stablecoin issuance has surged over the past six months, and they currently represent 8% of the total crypto market capitalization.In a report in late April, the United States Treasury Department predicted that the stablecoin market could reach $2 trillion by 2028 if regulatory clarity is achieved. Stablecoin legislation nearing next vote It is widely believed that two key pieces of legislation need to be passed into law in the US to cement the position of stablecoins. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act sets out clear definitions for “payment stablecoins” and reserve rules for stablecoin issuers.Lawmakers in the US Senate will move forward with a vote on the GENIUS stablecoin bill before May 26, according to reports. Meanwhile, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, which governs the approval and supervision of “federally qualified nonbank payment stablecoin issuers,” is also going through Congress. Tether is also planning to launch a US-based stablecoin later this year, with timing dependent on the passing of legislation. Magazine: Bitcoin to $1M ‘by 2029,’ CIA tips its hat to Bitcoin: Hodler’s Digest
Published: 1 week ago