Global #Ethereum

Since the beginning of April, there has been a surge in the creation of new tokens, surpassing 1 million in total. Ethereum saw over 370,000 new tokens emerge, while Solana witnessed the launch of over 640,000 new tokens, primarily memecoins.

The price of Ethereum is aiming for a potential upward breakthrough beyond the $2,900 mark. For Ethereum to sustain its upward momentum in the short term, it needs to establish stability above key resistance levels at $2,900 and $2,940.

Ethereum's price is showing signs of a rebound from the $2,865 support level, aiming to recover further if it surpasses the $2,960 resistance area.

Bitcoin (BTC) traders have encountered a relatively challenging period following the straightforward rallies that characterized the market since last October.

This adjustment comes after the Securities and Exchange Commission (SEC) expressed apprehensions regarding staking, viewing it as a security, which prompted the revision.

Ethereum has shown a tumultuous pattern of price fluctuations, initially dropping below the $3,000 mark in recent days before bouncing back above it.

According to Glassnode's recent newsletter "The Week On-Chain" dated May 7, Ethereum's Ether (ETH) has demonstrated comparatively weaker performance in this market cycle when compared to Bitcoin (BTC), which is currently priced at $62,988.

The Ethereum network underwent a significant change with the implementation of the Dencun upgrade, leading to a shift in the supply dynamics of Ether (ETH).

Ethereum co-founder Vitalik Buterin has introduced a new Ethereum Improvement Proposal (EIP-7702) to address concerns surrounding account abstraction in upcoming Ethereum updates.

Around $20 million worth of bridged Ether has been unexpectedly returned to the ZKasino wallet, nearly three weeks after users accused the platform's founders of an exit scam.

A recent report from Glassnode indicates that Ethereum (ETH), one of the prominent alternative cryptocurrencies, has shown weaker performance compared to Bitcoin (BTC) since January.

According to data from IntoTheBlock, Polygon (MATIC) reached a significant point where 31,000 addresses collectively acquired 216.94 million tokens at an average price of $0.73.