Oh boy, oh boy, oh boy! Global markets decided to throw a party on Friday, and guess who showed up? That’s right, cryptocurrencies! The total crypto market cap went up by a whopping 3%, thanks to those pesky altcoins making a big splash. π
Now, get this, around press time, Ethereum (ETH) was feeling pretty good about itself, gaining almost 4% in just 24 hours to hit $4,002. It even managed to touch that oh-so-important psychological level for the first time since December. Ethereum’s price has been on a wild ride, skyrocketing 163% since April, when it was chilling at $1,383. All thanks to more staking and some big companies getting in on the action. π¦π₯
But wait, there’s more! Ethereum got an extra boost when the Securities and Exchange Commissionβs Division of Corporation Finance said, “Hey, some of these liquid staking activities and ‘staking receipt tokens’ arenβt actually securities, as long as they follow a bunch of rules.” It’s like getting a gold star in class for following directions! π
Since then, Ethereum network transactions have hit an all-time high, and staked Ethereum is at a record high too. The seven-day average of daily transactions on the Ethereum blockchain hit 1.74 million earlier this week, smashing the previous record of 1.65 million from May 12, 2021. Who knew Ethereum could handle so much traffic? ππ¨
Ethereum to melt faces
As Ethereum gears up for its next big market push, the Glassnode cofounders known as “Negentropic” on X are predicting something truly spectacular for the second largest cryptocurrency. According to Negentropic, Ethereum’s next move is going to be a face-melter: “eth with a small breather, but the next move is loading and will melt faces.”
$eth with a small breather, but the next move is loading and will melt faces.
Will be sending a detailed video report into our @bitcoinvector and @altcoinvector advanced telegram groups.
– π‘π²π΄π²π»ππΏπΌπ½πΆπ° (@Negentropic_) August 8, 2025
With Ethereum back above $4,000, everyone’s eyes are on it to see if it can reclaim its all-time high of $4,891 from November 2021. But hey, before we get ahead of ourselves, there’s that pesky $4,500 level to deal with. It’s like a big bouncer at the door, acting as resistance in March 2024 and during the 2020-2021 cycle. A solid break above $4,000 and $4,500 will be the real test to see if Ethereum can keep its bullish momentum going. ππ
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2025-08-08 19:04