Can Ethereum (ETH) price rebound next week?

Ethereum's (ETH) value has experienced another decline this week, dropping to $1,557. This represents a 5% decline over the course of a week that has generally seen negative trends in the cryptocurrency market.

Timeline of Ethereum

A closely followed crypto analyst says that traders may be underestimating Solana's (SOL) potential in the next bull market. In a new strategy session, the host of InvestAnswers says that his base-case thesis for SOL is that it should reach 10% of Ethereum's (ETH) market cap during the next market expansion.

ETH's net issuance has been rising after bouncing from its 3-month low. The net issuance surged as high as 0.50%, which is not only the highest recorded during that period but also higher than Bitcoin.

Unveiled in May 2022, the novel Ethereum (ETH) proposal is set to enable the creation of a completely new type of tokens with previously unseen functionalities. Familiar assets on Ethereum (ETH) and other EVM blockchains will be upgraded to small decentralized applications.

Today Lookonchain, an on-chain analytics firm, reported that an address associated with Ethereum co-founder Vitalik Buterin transferred 1,000 ETH tokens, valued at approximately $1.64 million, noting that the coins are likely headed to Bitstamp, a popular cryptocurrency exchange. Frequent Activity in Ethereum Co-founder's Wallet This isn't the first time that Buterin's wallet has been active.

Whales are major players in the industry who accumulate or dump tokens of various types of cryptocurrencies. They either take advantage of prices, macroeconomics, accumulate tokens or leverage falling prices to buy the token.

Ethereum's price action has been relatively bearish in recent months, breaking below multiple support levels. However, investors can still be hopeful that an upward movement may be on the horizon.

Wire Network announced on Wednesday it opened its decentralized MegaMask wallet to the public for alpha testing. Currently, in this early-access phase, MegaMask wallet allows users to send, receive and buy cryptocurrency across platforms such as Wire Network, Polygon (CRYPTO: MATIC) and Ethereum (CRYPTO: ETH).

An on-chain crypto investigator took to social media to expose the supposed black truth behind Justin Sun's Tron but has thrown Ethereum in the mix, alleging that the cryptocurrency is backed by the CCP and may harbor crypto wallet addresses by Fentanyl traffickers. On-Chain Detective Unveils Potential Tron Ponzi Scheme An X (formerly Twitter) user going by the username @BoringSleuth has gained the attention of the crypto community after uncovering potential evidence of Tron allegedly being a Ponzi scheme governed by one of the world's largest crypto criminal drug cartels.

Yesterday's launch of futures-based Ethereum (ETH) exchange-traded funds (ETFs) delivered underwhelming results, with shallow trading volumes indicating a deficient demand for ETH exposure. Furthermore, a recent report by The Wall Street Journal report by The Wall Street Journal, it was revealed that the launch of the first Ethereum exchange-traded funds on Monday generated little interest from small investors.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has experienced a devastating plunge in its price. After a promising surge, the asset is currently trading at $1,663.44, leaving investors and traders scratching their heads.