Rallying Ether Breaks $2.9k, Sui Sees Massive Inflow, New Token Launches Powered By Web3

By: Eva Baxter

Ethereum (ETH), the world's second-largest cryptocurrency by market cap, has seen impressive gains outperforming Bitcoin by almost double. ETH's price momentum reignited, signaling a potential surge past $3,000 after seven days of rallying, comprising a 16% rise. Ethereum now enjoys a better fundamental supply outlook than Bitcoin, according to some analysts. Moreover, Bernstein predicts that Ethereum could be the next 'Institutional Darling', possibly the only digital asset to gain spot ETF approval from the SEC next to Bitcoin.

Apart from Ethereum's buzzing activity, the layer 1 blockchain Sui (previously developed by former Meta employees) saw an inflow of a whopping $310M in just 30 days. This influx enabled it to overtake Cardano, Near, and Aptos regarding total value locked (TVL).

On the other hand, Web3 technology is making strides as indicated by Cleo Tech's 'Marketing for Good' token that recently launched on MEXC. This Web3-powered platform encourages brands to offer users social 'good deeds' in return for viewing advertisements.

In blockchain tech upgradation and investment territory, AltLayer, a platform that facilitates the launching of rollups, was beneficiary of a sizeable $14.4M investment from Polychain and Hack VC as part of its initiative dubbed 'Protocol Village'.