DailyBubble News
DailyBubble News

Ethereum, Bitcoin & Injective – American Wrap 08 May

Ethereum (ETH) is showing signs of potential rally as its co-founder, Vitalik Buterin, and team propose Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074. The Ethereum Foundation has also recently transferred ETH tokens.

Meanwhile, Bitcoin (BTC) is experiencing downward movement on the one-day chart, with a more neutral outlook on the one-week chart. Despite this, data suggests that large holders are taking advantage of the correction to accumulate more BTC.

Injective (INJ) reached a peak market capitalization of $4.5 billion in March 2023. Now, the DeFi protocol is proposing a solution to regain its former glory through increased relevance and fresh capital injection. Injective is planning to launch a Layer 3 chain on Arbitrum, utilizing its Orbit toolkit for customizable chain development.

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