Ethereum Rises as Buterin Advocates for Resilience Amid Nordic Cash Struggles

Ethereum’s price jumped 3% to $2,582, with a trading volume surge. Vitalik Buterin emphasized the need for Ethereum’s resilience as Nordic countries struggle with cash reliance. Meanwhile, BTC Bull Token’s presale has raised $6.3 million, promising airdrops and a potential 10X increase, attracting attention amidst Ethereum’s growth.

Ethereum’s price spiked by 3% in the last 24 hours, reaching $2,582 as of 3:58 a.m. EST, alongside a hefty trading volume increase of 28%, totalling $13.8 billion. This price hike coincides with Vitalik Buterin’s comments regarding the Nordic region’s struggles with cashlessness proving Ethereum’s need for resilience. Buterin argues that relying solely on centralized digital payments is risky; cash is essential as a backup.

In his observations, Buterin referred to Sweden and Norway, noted as global leaders in cashless transactions, which are now urging citizens to keep paper money. He posits that Ethereum’s role must extend beyond merely scaling up; it needs reliability when conventional systems fail. The aim is to create a network that isn’t dependent on governments or centralized infrastructures.

Analyzing recent trends, Ethereum’s daily chart shows a notable bullish recovery from prior downtrends, currently exhibiting a rounded bottom pattern. This indicates a shift in sentiment from bearish to bullish, often hinting at significant future gains. Ethereum has moved past a previous supply zone, nearing the $2,700 level as confirmed by GeckoTerminal data.

Earlier, a death cross on the chart indicated potential bearish territory, as the 50-day Simple Moving Average crossed below the 200-day SMA. However, this trend has reversed, with the price establishing a new series of higher highs and lows, traditional signs of an upward trend. Currently, ETH is trading in a resistance zone around $2,500.

The Relative Strength Index (RSI) sits at 65.32, close to the overbought zone of 70, suggesting buying momentum is strong but not yet excessive—indicating room for further upward movement. As for future predictions, a breakthrough past the $2,700 resistance could aim for a surge up to $3,500, roughly a 32.14% increase.

On the flip side, failing to overcome the $2,700 mark might see Ethereum retesting support levels between $2,000 and $2,200, the latter being around the 50-day SMA. Simultaneously, interest is surging in a new Bitcoin-themed meme coin named BTC Bull Token (BTCBULL), which promises token holders free BTC.

Jacob Bury, a YouTuber with a following of over 56,000, believes BTCBULL could potentially increase tenfold post-launch. With smart money investors fuelling the presale, BTC Bull Token has quickly raised over $6.3 million. This project appeals to those optimistic about Bitcoin reaching the $1 million milestone. Airdrop rewards will commence when Bitcoin reaches $150K, with subsequent airdrops at each $50K increase, determined by the amount of BTCBULL held.

Moreover, starting from $125K Bitcoin, the project plans to buy back and burn BTCBULL tokens every time Bitcoin climbs by $50K. The BTCBULL token is live in the Upcoming Tokens category, offering milestone-based rewards as Bitcoin hits new price thresholds.

Holders also have an opportunity to earn via a staking platform, boasting a generous 64% annual percentage yield (APY). For those looking to get involved in the presale, the official BTC Bull Token website allows purchases at $0.00253 each through BNB, ETH, USDT, or card payment. Investors are advised to buy soon to secure this presale rate before an impending price hike.