Ethereum News Today: Ethereum's EIL: HTTP for Cross-Chain Unity

The Ethereum Foundation's Account Abstraction team has outlined a pivotal plan to unify layer-2 (L2) networks through the Ethereum Improvement Layer (EIL), a framework designed to streamline cross-chain interactions and enhance user experience. The initiative, which draws parallels to the HTTP protocol's role in standardizing the internet, aims to create a seamless, trustless environment where users can execute transactions across multiple chains via a single wallet interface. This development coincides with the Ethereum Devconnect conference in Buenos Aires, Argentina, underscoring the community's focus on scaling solutions according to the latest analysis.

The EIL leverages the ERC-4337 account abstraction standard, which introduced smart wallet functionality, to enable cross-chain actions without exposing users to the complexities of underlying infrastructure. According to Ethereum researcher Yoav Weiss, the current cross-L2 ecosystem resembles centralized exchanges, with opaque off-chain components like bridge operators and relayers. The EIL seeks to eliminate these intermediaries by allowing users to transact directly on all chains, supported by trustless liquidity providers who never interact with user transactions. This approach is expected to simplify user experiences, reduce developer workloads, and foster multichain-native applications and wallets.

Ethereum's price action has mirrored the optimism around these developments. After a dip below $2,950 earlier this week, the cryptocurrency has rebounded above the $3,100 support level, with bulls eyeing a potential test of $3,470 resistance. Recent data shows $98 million in liquidations over 24 hours, driven by $49.7 million in long liquidations, according to Coinglass. Technical indicators suggest weakening bearish momentum, though a sustained break below $3,100 could push ETH toward $2,850 or even $2,380 levels.

Meanwhile, insider trading activity in the traditional markets has drawn attention. Shao Wei-Ming, a vice president at Strategy Inc (MSTR), executed a $1 million sale of 5,200 shares under a prearranged 10b5-1 plan. The transaction, which included a $359,440 option exercise and a $1.04 million sale, left Shao with a remaining stake of 32,726 shares as of November 17, 2025 according to Reuters reporting. The Washington Service, which reported the trade, specializes in securities research and insider activity analysis, highlighting the interconnectedness of crypto and traditional financial markets.