Ethereum News Today: Cold Wallet Gains 2M Users in $270M Plus Wallet Buyout as Ethereum Tests $3,672 Resistance and XRP Struggles Near $2.90 Support

Cold Wallet has significantly expanded its user base and operational footprint with a $270 million acquisition of Plus Wallet, integrating over two million users in a single strategic move [1]. This acquisition has enabled Cold Wallet to launch a fully functional platform offering immediate utility through cashback incentives tied to daily crypto activities, such as gas fees, swaps, and fiat on-ramps [1]. Users can earn rewards in $CWT without the need for additional setup, with a referral program offering 10% and 5% rewards for referrers and new users, respectively [1]. The platform’s cashback model includes up to 100% cashback on gas fees and 50% on other activities, enhancing user engagement and token utility [1]. To date, the $CWT presale has raised $5.8 million, with over 700 million coins sold in stage 17 [1].

Meanwhile, Ethereum (ETH) is showing signs of upward momentum, currently trading near $3,628 after a period of consolidation [1]. Analysts suggest that a breakout above the $3,672 resistance level could push the price toward $3,850, provided the price remains above key support at $3,556 [1]. Despite a 4% decline in trading volume and slowing options activity, Ethereum has experienced a steady outflow of $42.64 million, signaling potential accumulation [1]. Binance’s long/short ratio of 3.41 further supports a bullish outlook for the asset [1]. However, the price remains highly dependent on maintaining its position above $3,556 to continue its ascent.

On the other hand, XRP is facing bearish pressure as it hovers near $2.90, struggling to maintain its support level and repeatedly failing to break above key indicators such as the 50-day and 200-day moving averages [1]. The Ichimoku cloud is also exerting downside pressure on the asset [1]. With declining trading volume, analysts warn that a break below $2.90 could trigger a further decline toward $2.60, representing an 11% drop from current levels [1]. While potential upside targets include $2.96 and $3.13, risks remain at key support levels such as $2.90, $2.79, and $2.60 [1]. Unless XRP can generate strong momentum above $3.00, the short-term trend remains bearish.

Cold Wallet’s acquisition strategy and immediate utility model position it as a standout in the crypto market, differentiating it from competitors who rely on speculative narratives [1]. With a live platform, integrated user base, and growing presale, $CWT is demonstrating tangible value and real-world adoption [1]. In a market where many projects are still in development or waiting for recognition, Cold Wallet is executing and proving its worth through actionable features and user incentives [1].

Source:

[1] title: Cold Wallet Adds 2M Users in $270M Acquisition as Ethereum Eyes $3,672 & XRP Hovers Near $2.90

url: https://coinmarketcap.com/community/articles/6897937f0521dc6411ad5dd9/