Ethereum Surges: Active Addresses Soar, Price Bulls Eye $3,500

Ethereum Surges: Active Addresses Soar Past 620,000, Marking Highest Level Since March 2024

Ethereum's active address count has surged past 620,000, reaching its highest level since March 2024. This significant increase in activity suggests growing interest and engagement within the Ethereum ecosystem. The surge in active addresses comes amidst a broader market recovery, with Ethereum's price also experiencing a notable uptick.

Ethereum's recent price action has been bullish, with the cryptocurrency trading above the downtrend line for the first time in three weeks. This development has sparked optimism among investors, who are now hoping for a sustained recovery in Ethereum's price. However, analysts caution that the market remains cautious, and traders are still assessing whether Ethereum can break free from its current downtrend.

If Ethereum can maintain its recent momentum and reclaim $3,303 as support, it could invalidate the bearish outlook and potentially rally toward $3,500. This move would require strong support from broader market cues and renewed buying pressure. However, if Ethereum fails to break through the downtrend line and loses the $3,131 support, its price could fall further to test $3,028, dampening recovery prospects and leaving Ethereum in a vulnerable position.

Hayden Adams Proposes One-Time ETH Inflation to Boost Collaboration in Ethereum Ecosystem

Hayden Adams, CEO of Uniswap, has proposed a transformative approach to strengthen Ethereum by using a one-time inflationary event. His suggestion aims to unite various decentralized finance projects and enhance Layer-2 solutions, fostering better collaboration within the Ethereum ecosystem.

Adams noted, “Make DeFi + L2s free, and the only ticker left is ETH,” a sentiment supported by key figures like Vitalik Buterin and Jill Gunter. Adams suggested a one-time inflationary event wherein newly minted ETH would be utilized to acquire top decentralized finance (DeFi) projects and Layer-2 (L2) solutions. This innovative thought aims to streamline Ethereum’s fragmented ecosystem and enhance cooperation among its players.

Adams’ proposal has ignited a broader discussion about unifying the Eth