Ethereum-Powered NFT Rental Service Launched by Top US Universities
Academics from Cornell, Princeton, UC Berkeley, Yale, and other elite institutions have introduced "Take My Ape," a Web3 project that allows temporary ownership of Bored Ape Yacht Club (BAYC) NFTs. This initiative, developed in collaboration with the Initiative for Cryptocurrencies and Contracts (IC3) and Oasis Protocol, enables users to experience exclusive BAYC benefits without permanent ownership. The proof-of-concept replicates true on-chain ownership, marking a significant step in NFT utility and accessibility. This development highlights the growing intersection of academia, blockchain technology, and decentralized finance (DeFi), with ethereum playing a pivotal role in facilitating these innovations. As of May 2025, this project underscores the expanding use cases for NFTs beyond mere collectibles, potentially driving further adoption of Ethereum-based solutions in the digital asset space.
Top US Universities Develop Bored Ape NFT Rental Service
Academics from Cornell, Princeton, UC Berkeley, Yale, and other elite institutions have launched "Take My Ape," a Web3 project enabling temporary ownership of Bored APE Yacht Club NFTs. The initiative, developed by the Initiative for Cryptocurrencies and Contracts (IC3) and Oasis Protocol, allows users to access exclusive BAYC experiences without permanent ownership.
The proof-of-concept mirrors true ownership on-chain, with renters’ Ethereum addresses appearing in Yuga Labs’ official contract. This innovation could reshape NFT utility by lowering barriers to high-value digital collectibles.
Ethereum Faces Key Resistance at $1,860 Amid Whale Activity and Liquidation Risks
Ethereum’s push toward the $1,860 resistance zone is encountering significant headwinds. On-chain data reveals a dense cluster of 5.58 million ETH held by 4.54 million wallets between $1,850 and $1,880—a supply wall that could trigger profit-taking and stall upward momentum. The psychological weight of this level intensifies as ETH trades at $1,914.85, marking a 4.44% 24-hour gain.
Whale activity suggests caution. Exchange reserves are rising despite the price increase, while overleveraged long positions heighten liquidation risks during breakout attempts. Market participants eye the $1,880 level as a make-or-break threshold where break-even sellers may overwhelm bullish momentum.
User Exodus Hits Smart Contract Platforms—Can Ethereum’s Pectra Upgrade Turn the Tide?
Smart contract platforms (SCPs) are experiencing their sharpest decline in active users, with daily addresses dropping 40.5% in just five months—a steeper fall than during the 2022-2023 bear market. crypto analyst Jamie Coutts, who developed Bloomberg Intelligence’s crypto research product, calls this the worst usage collapse in SCP history.
Amid the downturn, Ethereum’s upcoming Pectra Upgrade emerges as a potential catalyst for recovery. Coutts frames the current slump as a necessary cleansing of the ecosystem, coinciding with paradoxical macro trends: rising global liquidity and a record-high stablecoin market cap.
Ethereum Price Analysis: Next Targets Revealed as ETH Takes Down a Crucial Resistance
Ethereum surged past the $1.8K resistance level amid rising demand, signaling potential for further gains. The next critical hurdle lies at $2.1K, a zone aligned with the 100-day moving average.
Technical indicators suggest bullish momentum could persist, though a consolidation phase NEAR $2.1K may precede any breakout. Market participants are watching for confirmation of a sustained upward trend.
Ethereum Whales and Traders Shift to Aggressive Accumulation Amid Price Recovery
Ethereum’s market sentiment flipped decisively bullish as prices reclaimed the $1,900 level, triggering immediate action from large holders and Leveraged traders. Whale wallets and institutional funds initiated spot accumulation, while derivatives markets saw a surge in long positioning—a coordinated vote of confidence in ETH’s breakout potential.
The MOVE follows weeks of sideways trading, with ETH now attempting to break a six-month downtrend. Market participants appear to be positioning for a sustained upward trajectory, particularly as on-chain activity and DeFi engagement show renewed vigor.
Ethereum Price Surges 12.5% Following Pectra Upgrade, Bulls Target $10,000
Ethereum’s price surged 12.5% in the past 24 hours, breaking above $2,000 after the successful deployment of the Pectra upgrade on its mainnet. The update, which went live on May 7 at 10:05 A.M. UTC, introduces smart account wallet UX enhancements, doubles L2 scaling data storage capacity, and improves validator experience.
Market sentiment has turned decisively bullish, with traders now eyeing the $10,000 psychological barrier. The Ethereum community remains watchful for potential network issues during the critical 24-hour post-upgrade monitoring period.
This technical milestone comes amid intensifying competition in the smart contract platform sector, with Ethereum maintaining its dominance through continuous network improvements. The price action suggests institutional confidence in Ethereum’s long-term scalability roadmap.
