Ethereum Updates: Ethereum Drops to $2,800, Prompting Surge in Demand for ZKP's Hardware-Based Presale

Ethereum Faces Intense Selling Pressure

Ethereum has recently experienced a steep decline, dropping below the $2,800 mark and challenging important support zones. This sharp movement has resulted in substantial liquidations, including the loss of a $6.5 million wstETH position when ETH slipped under $2,900. On-chain data reveals weakening demand, as the On-Balance Volume (OBV) continues to fall with no clear signs of stabilization. Despite these bearish signals, institutional investors remain engaged. BitMine, a leading Ethereum treasury, has accumulated 3.62 million ETH—valued at approximately $10.4 billion—demonstrating confidence in Ethereum’s long-term prospects even amid the downturn.

Market analysts are keeping a close watch on the $2,500 support level, warning that a breach could trigger further declines toward $2,400 or possibly as low as $1,700.

Traders Seek Alternatives Amid Ethereum’s Decline

As Ethereum struggles, investors are exploring new opportunities in the crypto space. Meanwhile, Shiba Inu (SHIB) investors are shifting their focus to Digitap (TAP), as SHIB’s price performance continues to lag behind expectations.

Zero Knowledge Proof (ZKP) Emerges as a Promising Project

Zero Knowledge Proof (ZKP), a blockchain project centered on privacy, is making waves with plans to distribute hardware devices called Proof Pods, which will be available globally. Each device is designed to validate AI computing tasks and offers the potential for daily earnings based on the device’s tier. Unlike many projects that launch without working products, ZKP’s hardware is already prepared for deployment.

The platform distributes tokens through daily auctions, ensuring fair allocation based on contributions. To prevent excessive concentration, each wallet is limited to $50,000, and the platform supports multiple assets—including ETH, USDC, and BNB—making participation more accessible.

Strategic Partnerships and Real-World Applications

ZKP’s appeal is further enhanced by its partnerships. Notably, the project has teamed up with the Miami Dolphins to integrate privacy-focused AI into sports analytics, using zero-knowledge proofs to analyze performance data while safeguarding sensitive information. Co-founder Jeff Wilck sees sports as an ideal testing ground for decentralized solutions, while Dolphins executive Terry Reader views the collaboration as a chance to modernize the team’s operations. This practical use case sets ZKP apart, offering tangible utility beyond speculation.

Shifting Market Focus: Infrastructure and Innovation

With Ethereum’s outlook uncertain, attention is turning toward projects that deliver real infrastructure and practical use cases. ZKP’s hardware-first strategy, combined with its auction-based token distribution and sports industry partnership, has led some to compare it to the next potential breakout crypto. At the same time, Ethereum’s ongoing institutional accumulation and key support levels may provide a foundation for recovery, though immediate improvement appears unlikely. As market volatility continues, investors are weighing established assets against emerging projects.