Ethereum-Based NFT Gaming Project Explodes More Than 70% This Week Amid Flurry of Updates

An Ethereum (ETH)-based non-fungible token (NFT) gaming project skyrocketed by more than 70% this week amid a flurry of new upgrades. The utility and governance token of Illuvium (ILV) surged to a weekly high of $105 from a low of $61.81 on January 29th. Illuvium is a project that aims to build open-world fantasy games.

Timeline of Ethereum

Since 20 January, Ethereum has encountered resistance at $1,680. Even so, there is optimism that ETH will reach $1,800 or even higher by the end of February due to the ascending triangular pattern and improvements in investor mood in ETH derivatives.

Sberbank, Russia's largest bank, has announced it is going ahead with its plan to launch its decentralized finance (DeFi) platform on Ethereum.  According to the bank, there are plans to launch open trials for the platform as early as March 2023.

Ethereum [ETH] experienced a price increase before the close of the trading session on 2 February, bringing it to its highest level in more than four months. How did traders respond to it, and how might their responses impact the future price of ETH?

Top US crypto exchange Coinbase has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap. Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective, a liquid staking protocol.

Digital real estate platform Roofstock announced on Friday the successful sale of a rental property in Alabama through a non-fungible token (NFT) enabled by Roofstock onChain (ROC), its Web3 subsidiary. What Happened: The transaction was settled via an NFT marketplace on the Ethereum (CRYPTO: ETH) blockchain built by Origin Protocol.

A recent report details that Russia's largest financial institution, Sberbank, plans to launch a decentralized finance (defi) platform in May. Konstantin Klimenko, product director of Sberbank's blockchain laboratory, said that open testing will begin in March.

Ethereum price analysis shows ETH is trading at $1,663.79 after opening today's trading session at an intraday high of $1,703.03. Ethereum is trading in a horizontal trend; however, it is facing minor selling pressure and a rejection from the $1,700 resistance level.

Key Points: EigenLayer, an Ethereum restaking protocol that has yet to deploy, is raising $50 million in a Series A fundraising round, according to The Block and two persons familiar with the situation.

Ethereum gas fees have increased 13.71% in the last two weeks, with the average fee rising from $4.52 per transaction to $5.14 per transfer on Feb. 3, 2023. Despite ethereum's price seeing significant growth this year, its network's gas fees have also seen a similar increase.

Bitcoin (CRYPTO: BTC) traded lower, but remained above the key $23,000 level on Friday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the $1,600 mark this morning.