Ethereum News Today: Illuvium ILV Surges 37.69% as Pro League Drives Demand

Illuvium’s native token, ILV, has experienced a significant price surge, climbing to a high of $23.65 on July 31, a 160% increase from its lowest level this year [1]. This upward momentum has continued, with ILV seeing a 37.69% gain in the 24-hour trading window on August 5 [2]. The surge comes as the 2025 Illuvium Pro League commenced, sparking heightened interest and participation in the platform’s competitive ecosystem [1].

The Pro League features a tiered structure with three major tournaments—IPL 250, IPL 500, and IPL 1000—each offering prize pools ranging from $2,000 to $5,000, with the grand event in December boasting a $250,000 prize pool. The league also includes qualification events such as “last call” and “last chance” tournaments to expand player access [1]. The competitive structure and increasing prize incentives are drawing more players into the ecosystem, thereby boosting demand for ILV tokens [1].

On-chain data indicates that ILV is gaining traction among institutional-grade investors, known as “smart money.” According to Nansen, these investors now hold over 91,000 ILV tokens, a notable increase from a month ago [1]. Additionally, the supply of ILV on exchanges has declined from 2.81 million to 2.74 million, suggesting a reduction in circulating liquidity and a potential buildup of accumulation pressure [1].

Technically, the ILV price formed a double-bottom pattern, with a neckline at $18, which it successfully broke. The token has also crossed the 23.6% Fibonacci retracement level and moved above its 50-day moving average [1]. Analysts suggest this pattern supports a bullish outlook, with a potential price target as high as $41 [1]. However, a pullback is also seen as a likely scenario following the initial breakout [1].

In the broader market context, ILV has outperformed many other assets, recording a 3,200% increase in daily trading volume to $344 million, far exceeding its $124 million market capitalization [1]. The token’s performance against ETH has also been strong, with a 45.9% increase in the last 24 hours and a 33.90% rise over the past month [7]. These figures contrast sharply with the broader crypto market, which saw an 8.70% decline in the same period [7].

Looking ahead, price forecasts remain varied. CoinCodex anticipates a 2025 average price of $21.73, while Changelly analysts project a potential high of $55.08 by 2028 [5]. Meanwhile, Binance’s short-term forecast suggests a 5% increase to $14.14 by the end of the week [6]. These forecasts highlight the token’s volatility and potential for further appreciation, though they remain speculative.

The increased volume and participation, combined with the competitive structure of the Pro League, underscore the growing popularity of ILV within the GameFi sector. As the tournament calendar continues through December, the sustained engagement of players and investors could further solidify ILV’s position as a key player in blockchain-based gaming [1].

Source:

[1] Here’s why the Illuvium’s ILV price is soaring (https://coinmarketcap.com/community/articles/689225c45a48781f5efda534/)

[2] 3 Altcoins that Skyrocketed More than 30% Today (https://pintu.co.id/en/news/188808-3-altcoins-that-skyrocketed-more-than-30-today-5-8-25-on-the-way-to-break-ath)

[7] ILV to ETH: Illuvium Price in Ether (https://www.coingecko.com/en/coins/illuvium/eth)