Ethereum Price Prediction As ETH Takes On $2,000 – Is This The Bullish Escape To $5,000?

Ethereum price is doubling down its bullish efforts after reclaiming support at $1,900 and extending the leg to $1,950. The second largest smart contracts token, powered by a proof-of-stake (PoS) consensus mechanism, is up 1.6% on the day and trading at $1,945 on Monday.

Timeline of Ethereum

Based on recent data, over ten million ethereum is now secured within liquid staking derivatives platforms, with a valuation close to $20 billion at current exchange rates. Two leading liquid staking decentralized finance (defi) protocols, Lido Finance, and Rocket Pool, experienced 30-day growth rates ranging from 7.57% to 9.69%.

Vitalik Buterin, the enigmatic co-founder of Ethereum, recently divulged an intriguing aspect of his cryptocurrency management approach. While staking, a strategy utilized by many crypto investors to earn passive income, is popular in the Ethereum community, Buterin surprisingly revealed that he stakes only a minuscule portion of his Ethereum holdings.

Ethereum Name Service (ENS) Labs has announced plans to introduce Layer 2 (L2) interoperability for its ENS domains during a community call on June 28. The implementation aims to improve performance, scalability, and cost efficiency for users managing their ENS domains.

Dior, the renowned French luxury fashion house, has announced its foray into blockchain. The brand is introducing a new men's footwear line that incorporates a unique, encrypted online authentication system and corresponding “digital twin” Non-Fungible Tokens (NFTs).

Vitalik Buterin says that he's not ready to stake a large part of his Ethereum (ETH) holdings due to the current infrastructure built around the service. In a recent interview with the Bankless Podcast, the Ethereum founder says he's still concerned about staking a large part of his ETH trove due to security reasons.

Ethereum Price Analysis: After a week-long of correction, the Ethereum price gave a decisive breakout from the downsloping resistance trendline of the flag pattern. This breakout backed by a spike in trading volume reflects the recuperated bullish momentum and the high possibility for the coin price to reclaim higher ground.

Many Ethereum killers are seeing impressive growth in key aspects of their ecosystem, and Solana (SOL) is notably not left behind. In a remarkable twist, Solana has taken the center stage as it relates to the overall trading volume of its non-fungible tokens (NFTs) when compared to that of Ethereum.

In a proof of concept that has raised concerns about the censorship resistance of Ethereum, a team of researchers known as the Special Mechanisms Group (SMG) has revealed a method to exploit the proposer-builder separation feature of the blockchain. By leveraging this feature, the team successfully forced an Ethereum block to contain only their transaction.

ETH was being cheered on by the bulls as its price action of the last 24 hours was quite positive. Furthermore, as ETH moves to Q3 of 2023, its performance on the NFT and metric front also seemed to impress.

A recently organized team of researchers, the ​​Special Mechanisms Group (SMG), demonstrated Thursday how to take advantage of a facet of the proposer-builder separation market to force through an Ethereum block containing just one transaction: theirs.