Ethereum (ETH) is approaching a new round of upgrades designed to make transfers between Layer 1 and Layer 2 networks significantly faster, according to co-founder Joseph Lubin. The upgrades, which utilize zero-knowledge (ZK) proofs, aim to enable smoother cross-chain movement of tokens without relying on blockchain bridges that have historically posed security risks. Lubin noted that this could increase overall network activity, burn more ETH through transaction fees, and attract banks, financial firms, DeFi projects, and AI services to the ecosystem.
Meanwhile, the ETH price remains under scrutiny as traders defend the critical $1,500 support level. Analyst Ardi emphasized that a sustained break below this mark would weaken the market structure, drawing parallels to past pullbacks. In a notable on-chain event, a dormant whale wallet (0x0965) sold 27,585 ETH after seven years of inactivity, netting a profit of over $39 million at an average price of $1,625. The sale has added caution to market sentiment even as bulls attempt to hold the key level.
