Ethereum’s Bullish Momentum: A Repeat of Early 2024 Surge?

Ethereum (ETH) is once again capturing the spotlight as its price action mirrors the bullish patterns observed in early 2024, sparking optimism among traders and analysts. As of May 30, 2025, ETH is trading above $2,620, marking a 45% monthly gain and solidifying its position above the critical $2,600 support level for the first time since February. This resurgence has led to speculation that ETH could be on the verge of another significant rally, with some eyeing the $3,800 target. The current technical setup and macroeconomic indicators closely resemble the conditions that preceded ETH’s 50% surge in early 2024, adding weight to the bullish outlook. With the cryptocurrency market showing renewed vigor, Ethereum’s performance in the coming weeks could be a key indicator of broader trends in the digital asset space.

Ethereum Price Eyes $3,800 as Breakout Mirrors Early 2024 Pattern

Ethereum’s rebound is drawing attention as technical and macro indicators echo conditions seen in early 2024—a period that saw ETH surge over 50% in weeks. Trading above $2,620 as of May 30, the asset has posted a 45% monthly gain, marking its first decisive reclaim of the $2,600 support level since February.

Analysts highlight historical parallels, noting ETH’s current price structure resembles its behavior earlier this year. After breaking through the $2,486 resistance, the asset consolidated before rallying sharply. Rekt Capital observes similar conditions unfolding, albeit on a extended timeline, with ETH consistently closing above $2,468 for the past month.

A bullish flag formation identified by Titan of crypto recently resolved upward, pushing ETH to $2,788. The measured move suggests a potential target near $3,800—aligning with the top of Ethereum’s long-term range.

New ERC-20 Token Yeti Ouro Gains Attention Amid Ethereum’s Resurgence

Ethereum (ETH) has reasserted its dominance in the cryptocurrency market following the successful implementation of the "Pectra" hard fork and widespread adoption of Layer 2 rollups. Transaction fees have plummeted, revitalizing DeFi apps, NFT marketplaces, and small-scale transactions. Daily active addresses are surging, signaling a shift from speculative trading to real-world utility.

The resurgence is driven by two key factors: the explosive growth of rollups like Arbitrum and Optimism, which now handle the majority of Ethereum transactions, and renewed institutional interest. Major funds and tech firms are increasingly building on Ethereum for stablecoin issuance and tokenized assets.

Amid this bullish backdrop, a new ERC-20 token called Yeti Ouro is emerging as a potential disruptor in the GameFi sector. The token aims to introduce novel on-chain utility and blockchain gaming features, capitalizing on Ethereum’s revitalized ecosystem.

NFT Lending Volume Collapses 97% Amid Market Maturation, Says DappRadar

The non-fungible token (NFT) lending market has suffered a dramatic decline, with monthly volume plummeting from nearly $1 billion in January 2024 to just over $50 million in May 2025—a 97% drop. Blockchain analytics platform DappRadar attributes the collapse to waning speculative incentives, falling NFT prices, and a wave of liquidations that have rendered many lending protocols inactive.

NFT lending, which allows users to borrow cryptocurrencies like ETH using NFTs as collateral, was once hailed as a way to unlock liquidity for digital asset holders. However, the sector’s reliance on airdrops and farming incentives, particularly on platforms like Blur, proved unsustainable. "This marks the end of speculative mania," said DappRadar analyst Sara Gherghelas. "The market is now searching for real utility."

Analysts suggest tokenized real-world assets could revive interest in the space, but for now, the downturn reflects a broader recalibration in crypto markets. ETH, the primary currency used in NFT lending, remains central to the sector’s future—whether it stagnates or evolves.

Arkham CEO Unveils Vision for On-Chain Analytics and Exchange Integration

Miguel Morel, founder and CEO of Arkham, revealed the project’s ambitious roadmap during an exclusive AMA session. The platform combines Arkham Intelligence—a leading on-chain analytics tool—with Arkham Exchange, a new trading venue offering spot and perpetual futures contracts.

Morel’s journey began in January 2020 with a mission to bring transparency to blockchain transactions. "When your product is an ERC-20 token, you naturally want to understand who your users are," he explained, highlighting the challenges of tracking wallet activity across multiple chains before sophisticated analytics tools existed.

The dual-platform approach positions Arkham at the intersection of market intelligence and execution. The exchange launch marks a strategic expansion from data analytics to direct market participation, creating a closed-loop ecosystem for crypto traders.

JPMorgan’s Bearish Outlook on Ethereum Sparks Market Concerns

JPMorgan’s stark warning on ethereum has rattled the cryptocurrency community, citing declining institutional demand and troubling market indicators. The bank’s analysis points to CME futures nearing backwardation—a bearish signal where futures prices dip below spot prices—suggesting weakening interest from major investors.

Despite Ethereum’s recent Pectra upgrade improving protocol efficiency, institutional adoption remains lackluster. JPMorgan highlights a disconnect between technical improvements and actual network growth, casting doubt on ETH’s near-term price trajectory.

The report underscores a broader trend of institutional retreat, with CME futures data serving as a key barometer. While upgrades continue to enhance Ethereum’s infrastructure, the market appears unconvinced of its immediate upside potential.

Yuga Labs Divests Moonbirds NFT Collection to Orange Cap Games

Yuga Labs has sold its Moonbirds NFT collection to Orange Cap Games, a trading card game company, marking its second major intellectual property divestment after CryptoPunks. The deal includes rights to the Mystics and Oddities collections, variants of the original Moonbirds mint.

Greg Solano, Yuga Labs co-founder, praised Orange Cap Games as "among the smartest, most detail-oriented builders in consumer crypto." The transaction follows Moonbirds’ declining floor price from 28 ETH to 0.30 ETH before the acquisition announcement sparked renewed trading activity.

Yuga Labs retains Core assets including Bored Ape Yacht Club and Otherside metaverse collections. The divestment reflects a strategic shift toward preserving NFT value through specialized stewardship.