The analyst warns of potential corrections in the crypto market. Ethereum has reached significant resistance, with a pullback possible, Capo suggests. Continue Reading: Crypto Analyst Warns of Short-Term Correction in Ethereum and Solana The post Crypto Analyst Warns of Short-Term Correction in Ethereum and Solana appeared first on COINTURK NEWS .
Bitcoin was back in the news this week after surging past $104,000 before retracting a bit. The rally, which started around May 7, propelled the world’s largest cryptocurrency from $93,000 to as much as $104,000 by May 9. Related Reading: Binance Buzz: Pi Coin Wallet Activity Triggers Listing Rumors After retreating 4% in the following 24 hours, Bitcoin still maintained a weekly gain of around 6%. That short-term action is now driving larger predictions, including one that forecasts Bitcoin will increase another 10 times in value. Another 10x Jump ‘Inevitable,’ Expert Says Muneeb Ali, the brains behind the Bitcoin Layer 2 solution Starks, thinks the next giant leap is imminent. In his opinion, Bitcoin has already taken three distinct steps in its price trajectory: from $100 to $1,000, then to $10,000, and then to over $100,000. i’ve seen bitcoin go: – from $100 to $1,000. – from $1,000 to $10,000. – from $10,000 to $100,000. one more 10x to $1,000,000 is inevitable. — muneeb.btc (@muneeb) May 8, 2025 Ali pointed out how each move took more time but followed a familiar pattern. In 2013, Bitcoin climbed from $100 to $1,000 in four months. Four years later, in 2017, it reached $10,000. By December 2024, it had crossed the $100,000 mark. Based on that path, Ali said another 10x jump to $1 million isn’t just likely — it’s “inevitable”. However, he didn’t explain what would actually drive that kind of rise. New Projection Sees $116K Next Month The latest Bitcoin price forecast by CoinCodex has the price increasing by 13% and hitting $116,600 on June 8, 2025. Technical analysis indicates a positive trend, with 20 of the past 30 days (67%) closing in the positive. During the same timeframe, Bitcoin recorded 6.50% price volatility. Source: Alternative.me The Fear & Greed Index is currently at 73, which is Greed. Though this prediction is not quite hinting at reaching $1 million yet, it validates the notion that there is still space for Bitcoin to rise in the near future. Related Reading: Tether’s $1 Billion Mint Powers Tron — Is A Breakout Brewing? A US Government Buy-In Could Speed Things Up Zack Shapiro, a Bitcoin Policy Institute lawyer, also thinks that Bitcoin has a lot of potential — and quick. He studied a bill called the Bitcoin Act, which was reintroduced last March. The bill proposes the US government to purchase 1 million BTC within five years. That represents 5% of the total supply. If passed, the bill would fund the acquisition using profits from gold revaluation. Shapiro indicated that a plan like that would fuel demand so high it drives Bitcoin to $1 million earlier than anticipated. That’s provided that the bill gains momentum and secures the financing it requires. Featured image from Gemini Imagen, chart from TradingView
Inflows are back but, why do they feel weaker than before?
In a recent disclosure, Coinbase Global Inc., the leading cryptocurrency exchange in the U.S., addressed its previous considerations regarding large-scale Bitcoin acquisitions. CEO Brian Armstrong shared during a dialogue on
In the extremely volatile realm of cryptocurrency, Ethereum has once more given investors a timely reminder of a golden rule: The market frequently moves in the opposite direction of expectations held by retail investors. Just one day after the Pectra upgrade—an event long anticipated by many—failed to produce the immediate price rally that so many had hoped for and instead sent a wave of disappointment and a flurry of sell-offs in Ethereum’s direction, the world’s second-largest cryptocurrency by market cap has sharply reversed course. Today, Ethereum burst beyond the $2,075 level, making its peak price in over six weeks and leaving behind many who’d staked a bet on its not-so-distant future. The surge smacks of what seasoned traders might call “contrarian value”—the principle that doing what most people are not doing can lead to outsized gains. Retail Capitulation, Meme Coin Hype, and the Unexpected Rebound Yesterday’s Pectra upgrade had a quick and, for many, disheartening reaction. The immediate price action was underwhelming for the many in the upgrade camp who were just hoping for a move to all-time highs in ETH. If we are being real, though, it was mostly a narrative surrounding the upgrade that had people excited, not the math behind the upgrade itself. The narrative was mostly a way to say that we have been in a bear market for a long time, and what a bull signal this upgrade was. Retail traders who had been long on this narrative sold into weakness and, in a fit of frustration, told others to buy meme coins instead. The sentiment on social media took a distinctly negative turn as ETH’s price fell and attention turned to more exciting, unstable assets that promise quick returns. But the people who held their ground and remained calm for just a bit longer than most were rewarded at the end of that same day with an unexpectedly large uptick in Ethereum’s price. The event served to reinforce yet again the idea that having a strong, long-term belief in an investment pays off much more handsomely than giving in to the short-term buzz. The rally that brought Ethereum (ETH) up to the $2,075 mark today wasn’t just a nice number to see—it was an important sign to see. For over a month, month-and-a-half, ETH has had a hard time making any kind of headway in an upward direction. If anything, it had been mostly taking backward steps. Almost the only time in that period when ETH appeared to make even a modest gain was when it was momentarily lifting back up through the $1,750 mark. Ethereum has provided a textbook example on how it pays to be a contrarian against the retail crowd. Following disappointing price performances following the Pectra upgrade yesterday, many traders sold off their ETH bags and instructed others to do the same in favor of various… pic.twitter.com/ABIqtfnpKw — Santiment (@santimentfeed) May 8, 2025 One analyst said that retail investors continue to underestimate Ethereum. ‘Every time sentiment shifts to a bearish position based on a single event, we tend to see the asset respond with strength not long after. It’s almost a case study of how markets punish emotional trading and reward strategic patience.’ The Crowd is Often Wrong—And Ethereum Proved It Again One of the clearest messages from Ethereum’s post-Pectra price action is that the market has a repeated tendency to move against retail investors. When price extremes happen—be they euphoric tops or panic-driven bottoms—they tend to occur at the very moments when the crowd is most confidently wrong in its direction. Ethereum’s recent surge fits this pattern perfectly. Traders keeping an eye on sentiment metrics, and especially those focused on social engagement and predictions of an imminent ETH price collapse, may have been alerted to the possibility of a reversal. The charting of retail sentiment extremes has become an unexpectedly valuable guide. It highlights how FUD (fear, uncertainty, and doubt)—which is plentiful around Ethereum these days—often sets the stage for a contrarian bounce. To recover so quickly—and decisively—suggests that what lies underneath, in the fundamentals of Ethereum, is quite strong. The network, as it stands, is aiming for the kind of scalability that will one day allow it to support something more than just a few hundred dapps and smart contracts—if not millions of them. Ethereum might be getting there, folks, and it might not be unwise to consider what this means for ether (ETH) as an investable asset. This episode serves as a lesson not just in trading Ethereum, but in the behavior of markets more generally. When fear is at its loudest, and when exits are most crowded, opportunity often lies just beneath the surface. Once more, Ethereum has reminded the crypto world that patience and fundamentals can still outperform hype and herd behavior. Ethereum continues to be near short-term highs, and because of this, all eyes can now turn to whether or not this momentum can be translated into a sustained rally. But what happens next might be a less important story than the one that’s already been told: Following the crowd in crypto is a peculiarly dangerous pastime, and Ethereum just made that point impossible to ignore. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
The sector for AI agents is going great guns. In the last 24 hours, the total market cap for AI agents has soared by 17.12%, climbing to a record-smashing $10.89 billion. At the heart of this exploding rally is the AI project Virtuals, whose token $VIRTUAL has not just reclaimed, but soared past the $2.00 price point, closing today at $2.04—a 24.64% one-day gain. The total investor confidence wave that the broader Virtuals ecosystem experienced carried it to a total market cap of $2.39 billion, which is a 27.13% increase. Virtuals has 27.13% mindshare, which means it is leading the rapidly expanding AI agent market. $VIRTUAL Reclaims Momentum, Driving Ecosystem Growth Today’s performance of the virtuals was nothing short of commanding. After a brief consolidation period earlier in the week, the token staged a sharp breakout of sorts, crossed the $2.00 threshold, and peaked at $2.04 by the daily close. The 24.64% surge in price (wasn’t just a technical move—it was) driven by (heightened trading volume, renewed community attention, and a) sharp uptick in developer activity across the platform. Virtuals keeps on carving a unique space in the AI agent market by offering modular, programmable agents that can interact across decentralized applications. These agents perform tasks like automating smart contracts, managing on-chain communities, and integrating AI into DeFi protocols. The demand for these capabilities seems to be increasing and this has driven not only token demand but also ecosystem growth. At a present market cap of $1.33 billion, $VIRTUAL now constitutes over 12% of the whole AI agent field as a sector. Some analysts are closely watching this breakout to see if it can sustain itself, particularly as the usage metrics and developer traction keep climbing. Top Performers: Small Caps Stage Major Breakout Despite the attention drawn by the Virtuals, numerous smaller projects also enjoyed impressive increases over the last 24 hours. Notable among those that did were several that ranked high in terms of market cap growth: CONVO: +37.79% GUAN (@GuancialeAI): +37.63% HOLLY (@h011yw00d…): +35.2% LUNA (@luna_virtuals): +34.93% VADER (@Vader_AI_): +32.17% Virtuals Daily Update | May 9th, 2025 Stay up to date on all news from the @virtuals_io ecosystem over the last 24 hours… pic.twitter.com/mThM6NaHc6 — Graeme (@gkisokay) May 9, 2025 These advancements show a much larger eagerness for investing in emerging protocols of AI agents, especially those which are in active development and have neatly defined use cases. For instance, HOLLY and VADER have both become widely used and are talked about because they offer entertainment-focused AI agents. Meanwhile, GUAN is growing and growing as an AI company because its research assistants, who are powered by AI, are helping users across the globe to conduct research. LUNA, a constituent of the Virtuals ecosystem, had a particularly strong day, rallying nearly 35% alongside the breakout of $VIRTUAL. Performance like this suggests that secondary ecosystem tokens might represent an opportunity to gain leveraged exposure during broader market moves. What’s Next? Momentum Faces a Key Test The AI agent market has surged past $10.89 billion, and $VIRTUAL has broken new ground. The momentum is undeniable. But what we should really be asking is: can this rally be sustained? A number of things will be, and rightly should be, taken into account. First, an adoption of these by users in the real world may well serve to validate the valuations in question. That takes us to the second factor: broader market conditions, especially in the crypto world, could well impact either direct or indirect sentiment toward these assets in the short term. Lastly, traditional venture capital works in cycles. The Virtuals will have to keep the spark of imagination going pretty well non-stop if it is to retain its top-of-mind status. Nevertheless, one clear thing has emerged from their output in recent weeks: the AI agent market is heating up fast, and Virtuals is placed right in the thick of it. With a relatively young but rapidly growing ecosystem, strong community support, and what Utz envisions as a clear product-market fit, the project appears well positioned to lead the next wave of decentralized AI growth. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
The crypto and decentralized tech markets have undergone a clear shift in the past month. For most of the year, memecoins and speculative assets have been the darlings of the headlines. Now, utility-driven tokens are stepping into the spotlight—especially those tokens that exist at the intersection of AI and decentralized infrastructure. A few tokens are emerging that seem to be winning, with $VVV, $LAYER, and $HOOK capturing most of the investor attention. That said, $TANK and $CYBER also have momentum building behind them, and if they keep moving in the direction of upward price action, they could be next in line to garner the serious interest of investors. This shift is occurring for reasons that are very much tied to artificial intelligence and infrastructure. Venice Protocol ($VVV) Dominates the AI Infrastructure Narrative At the forefront is $VVV, the native token of the Venice Protocol—also known by its handle @AskVenice. This decentralized generative AI platform empowers a multitude of possibilities, spanning text conversations, image and code generation, and more. In contrast to AI services of the traditional Web2 era, Venice resides in a computational layer that is decentralized, censorship resistant, and redefining the contours of value capture in AI infrastructure. What’s been dominating mindshare? Over the past month, there’s been a noticeable rotation into $VVV , $LAYER , and even $HOOK . $TANK and $CYBER climbed the ranks toward early May. pic.twitter.com/EBKtqb3bD4 — Nansen (@nansen_ai) May 9, 2025 In the course of just a week, $VVV has rocketed upward by more than 80%, and now has a market cap of $135 million. Its growth isn’t just hype; it’s being driven by some impressive numbers. Venice now has over 50,000 daily active users (DAUs), strong evidence that its adoption is being driven by real utility and not just a bunch of speculators. What differentiates Venice is its unique model of ‘stake-for-access.’ Users don’t pay a subscription fee or burn tokens to use the generative AI capabilities of the platform. Instead, they stake $VVV to access them. This is a clear value proposition to stakers, and it creates an interesting value loop. The more people using the tokenized service, the more demand there is for the token, which is designed to strengthen the network. If this model works, it might give AI and tokenomics something to talk about. A Broader Rotation into AI and Infra-Focused Tokens $VVV may be at the head of the pack, but it hardly runs alone. Tokens like $LAYER and $HOOK have seen mounting interest and an inflow of capital, too. Both are linked to infrastructure layers that, in the case of both tokens, aim to serve the next generation of decentralized applications, especially those driven by AI. $LAYER is all about a modular, scalable, global compute layer. It’s letting developers build highly customized, high-performance environments. And at the same time, it lets those developers rely on standard primitives, or building blocks, for the kinds of applications they’re creating. These assets reflect a more extensive market understanding: as AI becomes further incorporated into our digital existences, the infrastructure undergirding it has to be decentralized, resilient, and open. The platforms that furnish this backbone seem most primed to gain, both in user numbers and in goodwill from investors. From Speculation to Substance: Real Utility Becomes the Key Driver Right now, more than just another hype cycle is happening. With the platforms like Venice rising and the tokens that power them, the crypto market is showing signs of maturing. The way things are playing out, the story is shifting from a purely speculative rotation into something that’s more about real, long-term sustained use cases. Platforms providing decentralized AI that can’t be censored, are accessible to everyone, and are able to capture their economic value on-chain, are something I’m increasingly seeing as a very important component of the modern digital world. In that context, we’re looking at tokens like $VVV not as ephemeral, here-today-and-gone tokens, but as basic building blocks of an economic layer for decentralized AI. If the current momentum continues, expect further inflows into tokens that are based around AI and those that are in the infrastructure layer. These tokens have not only good fundamentals, but they also have the kinds of good fundamentals that are leading to them having a user base that is growing quickly. So these tokens, in particular, are not just winning “mindshare”; they are well on their way to winning “market share” as well. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Ethereum’s recent price surge signals a potential turning point, buoyed by changing regulatory sentiments and renewed interest from investors. The 29% increase in ETH price is not just a market
As Bitcoin once again nears the elusive mark of $100,000, on-chain data is providing some fascinating new perspectives on the current market dynamic. Even with the price surge, the overall resistance levels for Bitcoin might not be as tough to topple as some experts had expected, meaning the cryptocurrency could clear these hurdles in the near future with the same ease as it did its last few rising price points. The price of Bitcoin is around $94,719, a strong support level where a substantial amount of $BTC has been accumulated. This floor seems to be solid, a sort of base the price can bounce off of as it heads toward the $100K level. However, there are obstacles to overcome on the way up, with resistance levels lying between here and the next major milestone price point at around $101,673, where once again a significant amount of Bitcoin has been amassed. Sell-Side Pressure and Resistance: On-Chain Indicators Show Limited Downside Risk One of the most critical insights that on-chain data provides is understanding the selling pressure and potential resistance in the market. When Bitcoin gets close to crucial price points, the sell-side activity tends to ramp up, often coming from holders with underperforming assets. On-chain analytics from places like Santiment reveal there’s still some serious sell-side pressure judging by the red bubbles they see on the charts. These bubbles represent volume coming from what we would call “distressed” holders. To be more precise, these sellers aren’t really distressed; they are far better positioned than they were a year ago. Bitcoin is once again approaching the $100K threshold, and on-chain data suggests potential resistance may be limited. The red bubbles highlight volume that's still in an unrealized loss; cohorts more likely to sell to break even or minimize further downside. This group… pic.twitter.com/yAhdHXp6IR — Sentora (previously IntoTheBlock) (@SentoraHQ) May 8, 2025 This group of likely sellers is very limited in size compared to the total available supply of Bitcoin. That essentially means that the sell-side pressure is more contained than in previous episodes where a larger number of holders were underwater. If we take together the profit-taking rendering the price action of Bitcoin for the past few weeks and the fact that profit-taking usually happens when a dire resistance level is being approached, it seems like sellers might still be at a very strategic advantage. Again, this isn’t exactly a positive delisting catalyst, but it is some indication that, regardless of the price action in the short term, buyers on the Bitcoin network are better off for now. Conversely, the levels where accumulation has occurred are apparent in the @#@substantial accumulation zones. Bitcoin is mirroring key support at $94,719, where 195,000 BTC were amassed over a short period of time. It is likely that these holders, who we term ‘believers,’ have strong incentives to defend this level. As a result, this zone becomes a good candidate to consider absence of any formation that signals a breakdown into lower levels. The path to $100,000 and up is not clear of roadblocks. A key obstacle lies just in front of us, at $101,673, where 81,910 BTC have been gathered. This is a much more prominent and wider resistance level than even the next one, at $111,732, which has also accumulated significant buying interest. #Bitcoin has established a strong support floor at $94,719, where 195,320 $BTC were accumulated. On the upside, a key resistance wall stands at $101,673, with 81,910 #BTC accumulated at that level. pic.twitter.com/PRFCKAeDFY — Ali (@ali_charts) May 8, 2025 Needless to say, if Bitcoin does head toward $100,000, much less if it surpasses that, it will have to deal with these two obvious pockets of profit-taking for traders who have been long Bitcoin. Surely, such trading dynamics could induce a consolidation at best and a retracement at worst. Whale Activity and Spot ETF Inflows Indicate Confidence in Bitcoin’s Price Surge As Bitcoin’s price keeps climbing, there has been considerable movement from Bitcoin’s big holders. On-chain data shows that these big players have been taking the opportunity to cash out a fair amount of their holdings. Santiment’s data this week highlighted that these large Bitcoin holders (i.e., the whales) sold over 60,000 BTC in recent days. This, according to Santiment, is further evidence that these big investors are taking advantage of the rising price to lock in some of their profits. Whales capitalized on the recent price surge, booking profits by selling over 60,000 #Bitcoin $BTC , shows on-chain data from @santimentfeed ! pic.twitter.com/Ilmw0zXQHx — Ali (@ali_charts) May 7, 2025 Even so, the total trend is still very much in the bullish camp, with growing institutional confidence in Bitcoin as an asset; this confidence seems to be underpinning the inflow of capital into Bitcoin-focused spot exchange-traded funds (ETFs). On May 7, the Bitcoin ETF had a net inflow of $142 million—there were no outflows from any of the 12 ETFs that track Bitcoin. My take is that this signals a pretty robust institutional demand for Bitcoin and further reinforces the optimism under which its price might be moving. On May 7, Bitcoin spot ETFs saw a total net inflow of $142 million, with none of the twelve ETFs recording net outflows. In contrast, Ethereum spot ETFs experienced a total net outflow of $21.77 million, with none of the nine ETFs registering net inflows. https://t.co/Hj2Gs49bWa — Wu Blockchain (@WuBlockchain) May 8, 2025 The Road Ahead: Potential for Further Growth and Continued Volatility The current price action of Bitcoin shows that interest in the cryptocurrency market is once again escalating, with not only institutional players maintaining their interest but also long-term holders remaining true to their positions. The next few weeks could see Bitcoin testing some key price points, with a solid support level at $94,719 and resistance looming at $101,673. Volatility is a constant in the world of cryptocurrency, and investors need to stay alert to the possibility of not just rapid price increases but also swift pullbacks. That said, relatively low sell-side pressure and strong accumulation might just mean that Bitcoin is ready to break through its resistance levels and establish a new record high. Of course, there are a lot of different ways to play this scenario. Spot ETFs have been receiving decent inflows, and whales are certainly still playing a large role in price action. Those are two pretty important aspects for a healthy Bitcoin market. But, as usual, it’s mainly a question of the price itself resolving at critical levels across time frames. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Ethereum (ETH) has lately breached the $2,000 mark, sending strong, positive price signals as the larger crypto market revels in fresh bullish winds. After a sustained spell of not-so-exciting price changes, Ethereum has lately had all the excitement it can handle, capped by another nearly 10% price pop in just the last few hours. Ethereum Breaks $2,000 As the crypto market turns bullish once again, $ETH is showing strong price momentum following the recent Pectra upgrade rising 9.33% in the past 24 hours. Could this mark the beginning of @ethereum comeback? https://t.co/XMztWV1XuS pic.twitter.com/1Q2kz4WdtJ — CryptoRank.io (@CryptoRank_io) May 8, 2025 This price action—actually upward instead of downward for a change—has a lot of traders and investors in the Ethereum ecosystem pretty pumped. And now, right on the heels of the latest price run, everyone is trying to figure out what these developments could mean for the future of ETH. Ethereum’s price surge is after a phase of fluctuating market conditions and stiff competition from other blockchain networks. But the renewed optimism around Ethereum isn’t just about the price. It’s also about what’s happening on the network. And what’s happening on the network is that it’s showing real signs of life, not just in the price, but in what people are doing with the network—its developers, for one, are super active; and two, they’re building things—activity reminiscent of crypto’s halcyon days in 2018. If the next chapter for Ethereum is an exciting one, that’s definitely a good sign for the second-largest cryptocurrency by market cap. Developer Activity and Ethereum’s Long-Term Potential One major indicator of the health of any blockchain network is developer activity, and for Ethereum, this has seen a truly remarkable resurgence. The figures show that the number of commits tagged to Ethereum open-source repositories has returned to levels seen back in 2018. More impressively, this was after Ethereum had peaked at an all-time high of 176,000 weekly commits in August 2023. Even now, Ethereum accounts for a substantially impressive 44% of all the commits being made in the weekly crypto ecosystem. Developer activity returns to 2018 levels The number of commits tagged to open-source repositories has now returned to 2018 levels after peaking at 176K weekly commits in August 2023. @ethereum ecosystem accounts for 44% of the total weekly commits, with a current figure of… pic.twitter.com/llL6UEsEaM — CryptoRank.io (@CryptoRank_io) May 7, 2025 The increase in developer activity indicates a sharpened focus on constructing and refining the Ethereum network, particularly post-big upgrades such as the Pectra upgrade. The affair and vigor exhibited by developers signify a renewed long-term commitment to Ethereum’s steady evolution, and in the developers’ words, to “future-proofing” the network for what kind of potential growth could come its way. Notably, Ethereum’s network upgrades—especially the transition to Ethereum 2.0 and the shift to proof-of-stake—have set the stage for far greater scalability, much lower energy consumption, and overall improved network efficiency. These developments, along with a dedicated base of developers and contributors, give the Ethereum ecosystem a definite aura of vitality and innovation. Ethereum ETFs and Institutional Interest Although the price of Ethereum and the level of development activity seem to be on the upswing, the appearance of the institutional side of things is one of caution. As of May 7, Ethereum spot ETFs saw a total net outflow of $21.77 million, which was really just an unfortunate reflection of the investor sentiment toward the asset. To make matters worse, none of the nine Ethereum-focused ETFs could muster up even a single dollar of net inflow during that period. So, what could this be telling us? On May 7, Bitcoin spot ETFs saw a total net inflow of $142 million, with none of the twelve ETFs recording net outflows. In contrast, Ethereum spot ETFs experienced a total net outflow of $21.77 million, with none of the nine ETFs registering net inflows. https://t.co/Hj2Gs49bWa — Wu Blockchain (@WuBlockchain) May 8, 2025 Even with this short dip, Ethereum continues to hold strong as a long-term viable network. Why? Because it keeps its developer activity at high and growing levels, and because it keeps up with successful upgrades. Its most recent upgrade, the Pectra implementation, has gone off without a hitch as far as I know (that is, as far as any major problems that could indicate some kind of upgrade calamity). Now, I know this is a lot of good news for Ethereum to bathe in, and trust me, I’m aware of the negative price action for the long-suffering Ether. A decline week in and week out is never a pleasant sight. But the sea of red that has become part of Ether’s price history seems to lie in direct contrast to the reality of Ethereum the network. The Road Ahead: Ethereum’s Bullish Momentum Could Signal New Heights Ethereum’s latest performance is seeing a lot of promise attached to it, as traders look to see if it can finally break through the important $2,000 mark. For many in the market, this was a key psychological barrier to get through for Ethereum and represented a serious test of its resilience. If it can maintain its upward momentum and overcome any potential resistance, there’s a possibility it could rise a lot more and potentially set new all-time highs in the months ahead. To keep the bullish movement alive, Ethereum must keep the developers interested, accomplish promised updates to its network, and furnish powerful use cases in decentralized finance (DeFi), NFTs, and other areas. Yes, the recent outflow from Ethereum spot ETFs might raise eyebrows and elicit some hand-wringing, given how much is also riding on the appearance of demand for Ethereum these days. But the ETF concern is a half-building block of a bearish narrative. The other half, which also happens to be on much more solid ground, is that Ethereum is a pretty good hedge to have in a DeFi-based portfolio over the longer term. From this point on, Ethereum’s ability to retain its crown as the preeminent smart contract platform in the crypto world will most likely determine its continued thriving in the crypto space. Backed by a fervently devoted developer community and a robustly interested cryptocurrency market, Ethereum keeps moving forward with its ongoing evolution. If nothing else, the latest price surge clearly states that the asset is not in a death spiral. Even as the crypto market moves in other directions, Ethereum remains resilient and a source of technical promise. This outlook may provide some optimism for any price pullbacks that might occur in early 2022. If Ethereum’s price continues to rise in 2022, it may do so on the back of both the momentum that the crypto market currently has and the potential future technical developments of the network. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !