Ethereum Shows Resilience with Rapid Rebound After Flash Crash

Ether experienced a dramatic flash crash during late Asian trading hours, plummeting 7.6% and briefly dipping below $2,250. However, the cryptocurrency demonstrated strong resilience as institutional buyers quickly stepped in, triggering a 3% rebound within minutes. Trading volumes surged to five times their normal levels during the sell-off, with over 751,000 ETH exchanged in a single hour. This swift recovery underscores Ethereum's liquidity and institutional support, reinforcing its position as a leading digital asset. The market's ability to absorb such volatility highlights growing confidence in Ethereum's long-term value proposition.

Ether Rebounds After Flash Crash as Buyers Defend Key Support Level

Ether plunged 7.6% in a violent flash crash during late Asian trading hours, briefly tumbling below $2,250 before institutional buyers stepped in. The second-largest cryptocurrency by market cap showed remarkable resilience, rebounding 3% within minutes as liquidity flooded back into the market.

Trading volumes exploded to five times normal levels during the sell-off, with over 751,000 ETH changing hands in a single hour. The rapid recovery established a new support base NEAR $2,290, with subsequent price action forming a textbook ascending channel - a technical pattern that often precedes sustained rallies.

Market makers appeared to defend the $2,250 level aggressively, creating a springboard for the rebound. The swift recovery suggests strong underlying demand for ethereum despite recent market turbulence, with the $2,290 zone now serving as critical short-term support.

Trader Behind 10X Ethereum Gain Eyes Kaanch Presale as Next Opportunity

A prominent trader who capitalized on Ethereum's rise from $300 to $3,000 is now backing Kaanch, a new project in its presale phase. Stage 7 is currently underway at $0.64 per token, with the next stage priced at $1.28. The presale has already raised over $2.4 million, fueled by live staking rewards of up to 30% APY and predictions of a 15,800% surge.

Kaanch's rapid presale progress and developer-friendly ecosystem are drawing comparisons to early Ethereum. Its limited total supply of 58 million tokens and upcoming exchange listings add to the bullish case. Market participants view this as a high-risk, high-reward play reminiscent of 2017's ICO boom.

Kraken’s Ink L2 Network Sees Surge in Activity Ahead of INK Token Airdrop

Kraken’s Ethereum Layer 2 network, Ink, has experienced a sharp increase in on-chain activity just days before its INK token launch. The Ink Foundation announced a fixed supply of 1 billion INK tokens, with a community airdrop set to distribute tokens via an Aave liquidity pool. Daily transactions have surpassed 500,000, while active smart contracts nearly doubled since May, reaching 6,000 by June 18.

Despite the surge in usage, total value locked (TVL) remains below $8 million. Ink launched ahead of schedule in December 2024, built on Optimism’s Superchain framework for Ethereum scalability. The network’s EVM compatibility allows seamless migration of Ethereum apps, offering faster transactions and lower fees.

Notably, the INK token will not include governance rights, diverging from typical LAYER 2 token models. This approach highlights Kraken’s focus on utility over decentralized decision-making.

Ethereum Tumbles 10% Amid Institutional Accumulation

Ethereum's price plunged 10% to $2,200, breaching critical support levels at $2,500 and $2,350. The sell-off contrasted sharply with institutional behavior, as whales funneled $274 million into ETH via cross-chain bridges during the downturn.

Layer 2 networks Base and Arbitrum dominated the buying activity, signaling sophisticated investors capitalized on the dip. Ethereum's year-to-date performance now trails Bitcoin's 58.1% rally and the S&P 500's 10.4% gain.

Network fundamentals showed resilience despite price weakness. Stablecoin supply expanded by $29.7 million, marking the second-largest daily increase - a bullish divergence suggesting underlying demand.