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Ethereum is struggling to break through key resistance levels, even after the recent crypto market surge led by Bitcoin. While ETH’s price remains under pressure, there’s encouraging news for investors.
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After moving to Farcaster, Vitalik Buterin appears to be back on X with over 150 posts or replies in the last month.
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Legendary crypto analyst, Benjamin Cowen has expressed confidence that Ethereum (ETH), the world’s largest altcoin, could outperform Bitcoin (BTC) soon.
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Digital asset investment products have experienced a second consecutive week of outflows, but Solana looks to be bucking the trend. Notably, last week was full of outflows from cryptocurrency-based investment products, amounting to a substantial $726 million.
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Ethereum remains under pressure at press time, looking at the formation in the daily chart. In summary, ETH is stable on the last day but down 9% in the last week of trading. Of note, there has been a drastic drop in trading volume over the past few days.
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While numerous cryptocurrencies are experiencing significant downturns due to broader market volatility, the Ethereum (ETH) network is experiencing a substantial growth surge, hitting its highest levels in four months.
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While Ethereum developers are working hard to develop on-chain scaling solutions, including Sharding, layer-2s is picking up steam. According to L2Beat, as of September 6, all these layer-2 scaling solutions managed nearly $34 billion.
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Ethereum co-founder Vitalik Buterin has denied allegations that he has been selling significant amounts of Ether for personal gain. Buterin claimed to have sold his ETH tokens to support various cryptocurrency projects and other charitable endeavors.
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So far in 2024, the Ethereum price performance has fallen short of market expectations. Instead of rallying alongside Bitcoin to new all-time highs as expected, it stalled and failed to claim $4,000 even at the height of its rally.
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The Ethereum price has been on a seesaw motion in the past few weeks, oscillating between the $2,500 and $2,750 zone. The altcoin struggled to make a mark in the past week, as its value fell to as low as $2,400 at some point.
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Marc Zeller, founder of the Aave Chan Initiative (ACI), has called for the dissolution of the Ethereum Foundation. This came following a recent transaction suggesting that the Foundation was again looking to sell the ETH top.
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Sony Group, in partnership with Startale, has launched Soneium, a public Ethereum layer-2 blockchain. This development is part of Sony’s strategic expansion into the blockchain ecosystem, leveraging its extensive distribution networks in entertainment, gaming, finance, and electronics.
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ETHA will be the first Ether exchange-traded fund to crest the $1 billion mark.
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