Ethereum News Today: EDEN Coin Soars 70 as Network Shuts Down Key Services

EDEN Coin has defied expectations with an unprecedented price surge despite the recent shutdown of several key services linked to the network. The cryptocurrency experienced a dramatic 70% increase in value within a single day, rising to $0.0721 before settling at approximately $0.06892. Simultaneously, its trading volume surged by 409.25%, signaling a strong and sudden interest from market participants. This surge occurred following the announcement that Eden Network, originally launched as Archer DAO in 2020, would be ceasing operations after years of managing a significant portion of Ethereum’s hashrate via its MEV-protected RPC service [1].

The shutdown marked the end of Eden Network’s involvement in the MEV-Boost relay space, a niche but influential segment of the Ethereum ecosystem. Despite the project’s strategic rebranding, growing operational costs and limited market competition ultimately rendered it unsustainable. The network had previously raised $17.4 million in 2021 but could not sustain profitability as the landscape evolved [1].

In response to the shutdown, Eden Network has halted all services, including its Eden RPC and Mempool Stream products. Users are advised to transition to alternatives such as Flashbots Protect and Blocknative. Additionally, a “Coin Retirement” program has been introduced, offering 2,000 ETH in a predetermined exchange rate to eligible EDEN holders outside the U.S. This distribution mechanism allows claims to be made until September 2025 [1].

Market analysis indicates that the EDEN price movement has tested the boundaries of a long-standing symmetrical triangle on the weekly chart. The RSI currently stands at 66.42, and a positive MACD alignment suggests potential upward momentum. Analysts note that a decisive breakout above the $0.033–$0.035 range, supported by high volume, could drive the price toward $0.050 and eventually $0.072. Conversely, failure to break key resistance levels may lead to a pullback toward the $0.022 support zone [1].

The surge has sparked speculation about the underlying factors driving the rally. While no major updates have been announced by the project team, the response from traders points to strong speculative buying and a belief in the token’s potential. The broader cryptocurrency market has remained stable during this period, indicating that the EDEN rally is largely isolated and driven by niche dynamics rather than a widespread bullish trend [1].

The situation underscores the unpredictable nature of digital asset trading, particularly in the presence of operational disruptions. It also highlights the role of liquidity and alternative trading mechanisms in supporting token value, even in the absence of active development. As the market continues to evolve, the resilience of tokens like EDEN in the face of uncertainty may offer insights into investor behavior and the mechanics of value perception in the crypto space [1].

Source: [1] EDEN Coin Sees Unprecedented Surge Despite Shutdown (https://example.com/edencoin-surge)