Dogecoin transaction volume flips Ethereum amid DRC-20 token fever

Dogecoin (DOGE) recorded a significant surge in its network activity over the last two days, processing more than 4 million transactions between May 27 and 28, according to BitInfoCharts. The increase surpassed the number of transactions processed by its more storied rivals like Ethereum (ETH) and Bitcoin (BTC).

Timeline of Dogecoin, Ethereum

Ethereum, the world's second-largest cryptocurrency, has maintained its support above the $1,750 mark, showcasing resilience in a volatile market. Like Bitcoin, ETH recently initiated a fresh surge after forming a solid base above the $1,820 resistance level.

Ethereum (ETH), the second-largest crypto by market cap, gained around 3% over the past day to climb above $1,900 on Monday. The altcoin follows Bitcoin‘s moves. Invezz.com news revealed that Bitcoin renewed its upward momentum after the debt ceiling tentative deal.

In a stunning twist of events, a wallet that had laid dormant since the Ethereum initial coin offering (ICO) in 2015 has suddenly sprung to life, sending ripples of excitement and speculation throughout the crypto world.

An Ethereum whale deposited 23,080 ETH, worth approximately $44 million, into Binance just 20 minutes after the cryptocurrency's price rose above $1,904. This action suggests that major holders are starting to take profits amid Ethereum's recent surge.

In a recent blog post by Matthew Sigel, Head of Digital Assets Research, and Patrick Bush, Senior Investment Analyst for Digital Assets at VanEck, a leading global asset manager, a bold prediction has been made: Ethereum's price could potentially skyrocket to $11.8K by 2030.

The world's second-largest cryptocurrency Ethereum (ETH) has shown an upside move of 3% shooting past $1,900 in the early trading hours of the Asian market. ETH follows Bitcoin price gains as hopes over the US increasing the debt ceiling, ignite.

Ethereum, the world's second-largest cryptocurrency by market capitalization, has witnessed a significant surge in its mean block size, reaching a new 1-month high. This milestone was recently announced by Glassnode, a renowned on-chain analysis platform.

Security breach in Jimbos Protocol, a liquidity protocol operating under the Arbitrum system, resulted in a significant loss of 4,000 Ether (ETH), approximately worth $7.5 million, on May 28.

Global investment manager VanEck says Ethereum (ETH) could hit $51,000 in less than seven years if certain conditions align. In a new research report, VanEck lays out its base, bear and bull cases for Ethereum's performance going into the end of the decade.

In the past 21 months following the implementation of Ethereum Improvement Proposal (EIP) 1559, Ethereum's London hard fork has witnessed staggering destruction of over 3.33 million ether, valued at a jaw-dropping $6.1 billion. The burn rate currently stands at approximately 3.51 ether per minute, further solidifying the network's unique burning phenomenon.