Ethereum Price Analysis: Trump’s UK Trade Deal Sparks $1.8 Billion Demand for ETH, Chainlink and PEPE in 24 Hours

Monicah W

Ethereum News: Whales Accumulate 123k Coins as ETH Reclaims $2,000

Ethereum price surges past $2,000 as Trump’s trade deal and Pectra upgrade ignite bullish momentum across the crypto and global markets.

Ethereum Price Surges Past $2,000 on Trump-Driven Market Optimism

Ethereum price surged above $2,000 on Thursday to hit a 120-day peak, boosted by multiple bullish macro pointers. ETH now trades around $2,000 with a 10% daily gain, outpacing Bitcoin’s 3% rally which saw gains capped just below the $101,000 level at press time.

Ethereum Price action, May 8, 2025  | Coingecko
Ethereum Price action, May 8, 2025  | Coingecko

This divergence in ETH price and BTC performance can be attributed to unique internal dynamics within the Ethereum network updates and Trump’s trade deals igniting optimism across global financial marketrs.

Why is Ethereum Price Outperforming Bitcoin Today?

Ethereum has outperformed Bitcoin in the last 24 hours due to a convergence of two powerful tailwinds.

On the macro front,  Trump announced a landmark trade deal with the UK, boosting global market confidence. He also signaled more trade agreements are underway, while authorities in China also confirmed talks with the Trump administration over ongoing tarrifs.

Simultaneously, the Ethereum network underwent its long-awaited Pectra upgrade, leading to a rare situation where centralized exchanges such as Coinbase and Binance paused ETH withdrawals. This temporary freeze limited retail sell pressure precisely when bullish momentum returned to the market, creating a supply squeeze that pushed ETH ahead of Bitcoin.

The Pectra upgrade success, last week, Vitalik Buterin introduced a comprehensive roadmap aimed at fixing Ethereum’s key limitations within five years. This followed internal leadership changes at the Ethereum Foundation, signaling a renewed push for institutional-grade scalability and decentralization.

The timing of these developments, Pectra’s implementation, bullish macro news, and internal network confidence, has created a unique alignment propelled Ethereum price gains over Bitcoin during the market rally on Thursday.

Ethereum Tokens to Watch as Traders Bet $1.8 Billion on Trump’s Trade Deal and Ethereum Upgrades

Coingecko’s data shows that Ethereum ecosystem tokens attracted over $1.8 billion in trading volume over the last 24 hours, withe aggregate market cap approaching the $55 billion mark.

The standout performers are:

  • PEPE surged 17.0% to $0.00006, propelled by memecoin momentum and a resurgence in whale accumulation patterns.

  • Virtuals Protocol (VIRTUAL) advanced 21.0% to $1.62, buoyed by speculative inflows targeting emerging DeFi infrastructure projects.

  • Chainlink (LINK) climbed 9.4% toward the $15 mark, supported by rising cross-chain transactions, demand for tokenized assets and increased investor attention due to its association with Trump-backed Word Liberty Financial (WLFI).

  • AAVE rallied 10.6% to break above $187, signaling revived institutional appetite for Ethereum-based lending and borrowing protocols.

Beyond market catalysts, US domestic policy took a favorable turn for crypto. In the last 24 hours, Arizona, Oregon, and New Hampshire passed state-level cryptocurrency investment bills, offering legal clarity for retail and institutional investors.

Ethereum price forecast today: What’s Next after $2,000 breakout?

Ethereum price breakout above the psychologically significant $2,000 mark on Thursday signals a decisive shift in market momentum.

The 14.49% daily gain combined with risk volume confirms strong bullish participation, with the candlestick clearly breaching the upper Bollinger Band—a sign of heightened volatility and aggressive buyer control. This move decisively pulls ETH out of its prior consolidation range, where price had been coiling between $1,800 and $1,900 for nearly three weeks.

Ethereum price forecast today
Ethereum price forecast today

Importantly, the Relative Strength Index (RSI) has surged to 73.07, placing Ethereum in technically overbought territory. However, overbought RSI levels during early-stage breakouts often validate strength rather than suggest immediate reversal, particularly when supported by strong volume and fundamental catalysts as obsereved in the past week.

The middle Bollinger Band (near $1,786) now serves as a dynamic support, reinforcing the breakout’s structural integrity.

Ethereum price forecast today remains bullish, provided ETH sustains above $1,990—the upper Bollinger Band.

A weekly close above this level may open the path toward $2,250. On the flip side, any pullback below $1,900 would suggest a failed breakout and invite profit-taking pressure.

The post Ethereum Price Analysis: Trump’s UK Trade Deal Sparks $1.8 Billion Demand for ETH, Chainlink and PEPE in 24 Hours appeared first on CoinGape.

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CME Group’s Partnership with Google Cloud Faces Criticism Over Centralization Concerns

CME Group has partnered with Google Cloud to pilot initiatives aimed at enhancing capital market efficiency through tokenization. The collaboration seeks to leverage Google Cloud Universal Ledger (GCUL).

However, critics argue that the technology represents a shift toward centralization in an industry that has traditionally prioritized decentralization.

CME and Google Cloud’s Tokenization Pilot: A New Era or Centralization Crisis?

For context, Google Cloud’s GCUL is a distributed ledger built for seamless integration by financial institutions. This platform simplifies account and asset management while enabling secure transfers on a private and permissioned network.

According to the press release, the collaboration seeks to enhance the efficiency of wholesale payments and asset tokenization by utilizing GCUL. Terry Duffy, CEO of CME Group, hailed the partnership as a response to the changing demands of global markets.

“Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement, and fee payments as the world moves toward 24/7 trading,” Duffy said.

The team has finalized the initial integration and testing phase of GCUL. They will conduct direct testing with market participants later this year. Lastly, the services’ launch is planned for 2026.

Nonetheless, the move has sparked controversy within the cryptocurrency community. Critics argue that GCUL, as a centralized and permissioned ledger, contradicts the decentralized ethos that underpins blockchain technology.

“It is not a bullish development,” a user wrote on X.

The collaboration has also ignited a broader discussion about the role of public versus private blockchains in asset tokenization. DeFi analyst Ignas framed the issue as a “battle between public, decentralized networks and private chains.

This suggested that centralized solutions like GCUL could undermine the principles of transparency and inclusivity of public blockchains.

“Not bullish at all. Google Cloud Universal Ledger (GCUL) seems to be a private, permissioned network,” he posted.

Meanwhile, another analyst pointed out the practical challenges associated with using public blockchains. 

“I’m honestly not sure if public chains are competitive in this space,” he claimed.

The analyst explained that CME Group or similar institutions require ultra-high-frequency settlements with near-instant finality. They also need room for manual intervention when necessary. 

This need for precise control often leads institutions to split blockchain nodes into specialized roles like clearing, settlement, compliance, and observation. The analyst argued that public blockchains do not support this level of control.

He also highlighted that tokenized assets need liquidity boundaries to avoid risks like money laundering and speculation. Without proper controls, tokenized assets could face these issues if traded on decentralized exchanges. 

“I’ve talked to quite a few people from traditional finance, and honestly, many of them say DEXs are basically no different from black markets,” the analyst added.

Thus, he noted that the concerns around regulation, scalability, and security make it a difficult proposition for traditional financial institutions to adopt tokenizing real-world assets directly on a public blockchain.

The post CME Group’s Partnership with Google Cloud Faces Criticism Over Centralization Concerns appeared first on BeInCrypto.

Pi Network News: Pi Coin Price To Drop By 50% – Two Possible Reasons Behind It

2.8M Pi Token Unlock Will Pi Coin Price Crash Again Today

The post Pi Network News: Pi Coin Price To Drop By 50% – Two Possible Reasons Behind It appeared first on Coinpedia Fintech News

In the last two days, Pi Network’s price has dropped almost 20%, shedding almost the maximum gain it made after surging back from its lowest-ever price of $0.38. Right now, Pi is trading around $0.61, which is nearly 400% lower than its all-time high. 

But some experts say the price could drop even more — maybe by 35% to 50%. Let’s see why they think this might happen.

Why Pi Coin Dropping Continuously 

Popular crypto expert Dr. Altcoin says Pi Coin is on the verge of falling even more, maybe 35% to 50% lower than where it is now. He thinks the main reason is that too many new Pi tokens are being released into the market.

This month alone, over 100 million Pi coins will be released. This year, more than 1.5 billion new coins will come into circulation. With so many new tokens and not enough people buying, the price might keep falling.

Dr. Altcoin also warned that if the Pi Core Team doesn’t do something to stop the supply from growing, the price could drop all the way down to $0.30 in the next few months.

Too Many Tokens, Not Enough Buyers

Other experts agree and say this is basic supply and demand. When there are more coins to sell, but not more people to buy them, prices go down. Right now, many people can’t even buy Pi Coin because it’s not listed on big exchanges like Binance or Coinbase, so the demand is still low.

What’s the Possible Solution? 

Some experts suggest that the Pi Foundation could burn some tokens to reduce the supply. Right now, the team holds over 70 billion Pi coins, and burning even a small part could help support the price. 

Another idea is to burn some of the transaction fees collected from Pi’s app ecosystem, like other blockchain projects already do.

Pi Coin Price Eying 50% Drop

The price of Pi Coin has dropped a lot, mainly because hundreds of millions of Pi tokens have been unlocked and added to the market. Recently, it lost 20% in value after failing to move above the strong resistance level at $0.778 last week.

Looking at the 1-day price chart, Pi Coin is seen forming a “falling wedge pattern,” which usually means the price will keep going down. If this happens, the coin could drop to $0.38, its lowest point this month.

But if Pi Coin goes above $0.78, it might start going up again and could even reach $1.

The post Pi Network News: Pi Coin Price To Drop By 50% – Two Possible Reasons Behind It appeared first on Coinpedia Fintech News
In the last two days, Pi Network’s price has dropped almost 20%, shedding almost the maximum gain it made after surging back from its lowest-ever price of $0.38. Right now, Pi is trading around $0.61, which is nearly 400% lower than its all-time high.  But some experts say the price could drop even more — …

Bybit asks DAO to return fees earned from hack transactions

ParaSwap DAO members were split, with some supporting the conditional return of the fees and others voting against the refund.

Bybit confirmed it was behind a proposal requesting that decentralized finance (DeFi) protocol ParaSwap return fees earned from swaps conducted by the Lazarus Group using digital assets stolen from the exchange.

On March 4, a proposal was posted on ParaSwap’s decentralized autonomous organization (DAO) forum asking to freeze and return 44.67 Wrapped Ether (wETH), worth almost $100,000, to a wallet address. 

The proposal initially attracted skepticism, with several DAO members calling for verification before advancing the proposal. Bybit shared a verification post on its official X account on March 5, confirming that it was behind the proposal to return the funds. 

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