Ethereum News Today: Ethereum's $2.8K Slide Sparks Rush to ZKP's Hardware-Driven Presale

Ethereum's price continues to face significant downward pressure, with the asset sliding below $2,800 and testing critical support levels. The recent volatility has triggered large-scale liquidations, including a $6.5 million wstETH position lost as ETH fell below $2,900 [as ETH dropped to $2800]. On-chain metrics highlight deteriorating demand, with On-Balance Volume (OBV) declining sharply and no signs of stabilizing distribution. Institutional players, however, remain active. BitMine, a major Ethereum treasury, has aggressively accumulated 3.62 million ETH (worth ~$10.4 billion), signaling a long-term bullish stance despite the sharp correction [as Ethereum drops to $2800]. Analysts are closely monitoring the $2,500 level as a potential reaction zone, with some warning that a break could lead to further declines toward $2,400 or even $1,700 [as Ethereum's fate hangs on one critical support].

Amid Ethereum's struggles, traders are pivoting to alternative opportunities. Mutuum Finance (MUTM), a decentralized finance (DeFi) project, has captured attention with its sixth presale phase, which has raised $19 million and attracted 18,180 holders. The presale's current token price of $0.035 is expected to rise to $0.040 post-phase, with a projected 400% return for early buyers at $0.035 [projected to rise to $0.040]. The project's V1 protocol, set to enable lending, borrowing, and liquidity pools, is being audited by Halborn Security, adding credibility to its roadmap. Meanwhile, Shiba Inu (SHIB) holders are rotating into Digitap (TAP), as SHIB's price action suggests continued underperformance [as SHIB's price action suggests].

Zero Knowledge Proof (ZKP), a privacy-focused blockchain project, is emerging as a standout in the presale landscape. The project has announced a $17 million inventory of hardware devices, known as Proof Pods, ready for immediate global shipping once its presale auction begins. These devices, priced at $249 each, are designed to validate AI compute tasks and generate daily earnings of $1–$300 depending on their level. The hardware's readiness contrasts with typical presale projects, which often lack functional infrastructure at launch. ZKP's Initial Coin Auction (ICA) model distributes tokens through daily auctions, using proportional fairness to allocate coins based on participants' contributions. A $50,000 per-wallet cap prevents concentration, while multi-asset support (ETH, USDC, BNB, etc.) broadens accessibility [as ZKP takes center stage].

ZKP's strategic partnerships further bolster its appeal. A collaboration with the Miami Dolphins aims to integrate privacy-focused AI into sports analytics, using zero-knowledge proofs to evaluate performance data without exposing sensitive information. The project's co-founder, Jeff Wilck, emphasized sports as an ideal environment for testing decentralized systems, while Dolphins representative Terry Reader highlighted the opportunity to modernize operations [as ZKP takes center stage]. This real-world application positions ZKP as a rare presale project with tangible utility beyond speculative hype.

While Ethereum's future remains uncertain, the market's attention is shifting to projects with concrete infrastructure and use cases. ZKP's hardware-driven approach, combined with its auction model and sports partnership, has drawn comparisons to the "next 100x crypto" narrative. Meanwhile, Ethereum's institutional accumulation and critical support levels suggest a potential floor for its decline, though immediate relief remains unlikely. As volatility persists, investors are balancing risk between established assets and emerging innovations, with ZKP's presale and Mutuum's DeFi platform emerging as key focal points for speculative capital.