Ethereum's price dropped to $2,400 on May 17 before resuming its rally, which can take ETH toward $3,000 or more. Key points: Ether price rose 3% to $2,550 on May 18, triggering $22 million in short ETH liquidations. A bull flag on the chart suggests a $3,700 target, with analysts predicting Bitcoin’s price to go as high as $5,000 in May. Read more
The rapid rise of Ethereum layer 2s isn’t a problem. It’s a sign of healthy growth and innovation. The future isn’t chain consolidation but a thriving ecosystem of thousands of specialized L2s. Opinion by: Igor Mandrigin, co-founder and CTPO of Gateway.fm Every couple of weeks, it seems another layer 2 rolls out, much to the chagrin of some Web3 industry commentators who are concerned about fragmentation. A recent Gemini Institutional Insights report actually noted how a new Ethereum L2 solution is launched approximately every 19 days. In response to the seemingly endless conveyor belt of new zkEVMs and optimistic rollups coming to market, the chorus of criticism continues to grow louder: “This is definitely the saturation point, no more chains are needed.” Some of the most outspoken critics of L2s argue that L2s are redundant, but this is narrow thinking. In many ways, the idea that creating new L2s should be slowed down is like arguing that there were too many websites in 1998. The proliferation of L2s is n...
Bitcoin is in line to leave its tight range behind in the coming days — even retaking all-time highs and pushing into price discovery after several months. Key points: Bitcoin is convincing traders that an upside breakout is around the corner, with all-time highs in sight. One target demands $116,000 next week, moving BTC/USD firmly out of its narrow range. Read more
Saifedean Ammous says he would “throw in a few sats” to fund a developer dedicated to making Bitcoin spam more costly. Economist and author of The Bitcoin Standard, Saifedean Ammous, has weighed in on the ongoing debate over spam inscriptions on the Bitcoin network, suggesting he would “throw in a few sats” to fund a full-time developer focused on making Bitcoin spamming more difficult and expensive. Ammous made the remarks in response to a thread initiated by the pseudonymous developer GrassFedBitcoin, who called for Bitcoin Core to merge pull request #28408, which would enable node operators to filter inscriptions more easily. According to GrassFedBitcoin, the lack of inscription filtering tools contributes to unnecessary blockchain bloat and undermines Bitcoin (BTC)’s role as a monetary protocol. Read more