Ok, Ethereum – where did THAT come from?
Ethereum – the long-suffering poster-boy for altcoins – has been languishing in Bitcoin’s shadow for what feels like ages.
After all-time-highs over $4K in December, it declined well over 50%, hitting lows near $1500 in April.
But, fueled by a long-awaited Pectra upgrade and with ERC-20 tokens as popular as ever, Ethereum’s roaring back to life.
These enhancements improved validator operations and Layer 2 scalability. Another EIP, number 7691, focused on improving Ethereum’s blob performance, which is a unit of ‘ephemeral data storage’ for L2s.
Pectra increased the average and max blobs per block from 3 and 6 to 6 and 9.
In the end, Pectra contributed to a 20% rise in ETH’s price, marking its largest single-day gain since May 2021.
It might feel like Ethereum’s coming back to life, but that’s a bit misleading; the world’s leading DeFi protocol never died, it just seemed to lose a bit of momentum.
ut recent announcements from the Ethereum Foundation show just how bright the future looks.
The Ethereum Foundation has committed $32.65M in grants through its Ecosystem Support Program (ESP) to advance Layer 2 efficiency and education.
As the name implies, the grants are intended to build future support for the broader Ethereum and EVM (Ethereum Virtual Machine) ecosystem. Key allocations include:
Now that Ethereum’s price has broken through the $2K resistance level, technical indicators suggest a potential continuation of this upward trend.
As Ethereum gains momentum, here are four of the best crypto to buy, all ERC-20 tokens. .
MIND of Pepe is an AI-driven meme coin that combines the viral appeal of internet culture with advanced autonomous intelligence.
Built on the Ethereum blockchain as an ERC-20 token, $MIND offers holders benefits as it learns from the crypto market, engages with communities, and evolves over time.
Those benefits include:
SUBBD Token ($SUBBD) is a Web3 content-sharing platform powered by AI tools designed to revolutionize the creator economy.
The ERC-20 $SUBBD token facilitates payments, staking, and governance within the platform.
Investors can stake $SUBBD for 20% APY during the presale; after a year, staking rewards shift to focus on platform benefits. That means subscription discounts where you pay less if you hold more $SUBBD, as well as platform VIP programs.
Token holders can enjoy early access to features and voting rights. Creators can also use $SUBBD to reward fans with exclusive content and behind-the-scenes content.
Chainlink is a decentralized oracle network that enables smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.
Chainlink connects numerous blockchains, including Ethereum and Solana, and has become a major player in the DeFi realm.
$LINK serves as the utility token for Chainlink, and is a multichain token available on a number of blockchains. As an ERC-20 token, $LINK is integral to the functioning of the Chainlink network, incentivizing data providers (oracles) to deliver accurate and reliable data.
Yes, $ETH’s price has increased 20% in the past day.
And yes, trading volume has boomed, growing 160% to reach $52B in the past 24 hours.
But there’s still plenty of room for $ETH to make bigger gains. While the token is trading at $2.3K right now, December’s high was another 60% higher at $4K. Technical indicators remain strong, and the broader crypto market is increasingly bullish.
All of it bodes well, and continued investment by the Ethereum Foundation shows that the blockchain’s creators don’t intend to go anywhere anytime soon.
Add in continued struggles from Solana and so-called ‘Ethereum killers,’ and rumors of Ethereum’s death may have been greatly exaggerated.
What sets the best new cryptocurrencies apart?
Like Ethereum, they build for the future. That could mean embracing emerging technologies like AI, or it could mean adding utility to growing Web3 platforms.
But Ethereum’s rebound shows just how strong the crypto economy is.
