Today's Bytes: ETH surpassed $3,000, PIXEL $1.2 billion, Shifts NFT Ticketing Platform to Avalanche

1. Ether Surpasses $3,000 for First Time Since April 2022 Amid ETF Excitement

ETH surpassed $3,000 for the first time since April 2022, driven by expectations of a potential spot ETH ETF approval, which could attract more conservative, institutional investors. ETH's price rose over 12% in the past week, outpacing Bitcoin and other cryptocurrencies. Traders are eyeing $3,500 as the next resistance level, anticipating continued rally as ETH ETF approval is anticipated. ETH's surge in 2024, nearly 30% since the year's start, has outperformed Bitcoin's 22% advance. Institutional interest in ETH is growing, mirroring the recent success of Bitcoin ETFs in attracting significant investments.

2. PIXEL Trading Volume Surpasses $1.2 Billion, Tops Major Cryptocurrencies

The Ethereum token PIXEL, associated with the blockchain game Pixels, has quickly become one of the most-traded tokens, with over $1.2 billion in trading volume since its Monday morning launch. This makes PIXEL the 10th most-traded cryptocurrency overall, surpassing popular tokens like Avalanche, Dogecoin, Cardano, and Polygon. PIXEL's trading volume exceeds that of other gaming tokens, such as XAI and Ronin. The launch of PIXEL was highly anticipated by crypto gamers, leading to a surge in player accounts. Despite experiencing a 15% drop from its peak, PIXEL is currently priced at around $0.58, with a market cap of $450 million based on its circulating supply.

3. Sports Illustrated's SI Tickets Shifts NFT Ticketing Platform to Avalanche

Sports Illustrated's ticketing arm, SI Tickets, is moving its NFT ticketing platform, "Box Office," from Polygon to Avalanche. The collaboration with Ava Labs will enable SI Tickets to mint NFT tickets on the Avalanche blockchain, offering dynamic content and engagement opportunities for event organizers and guests. The move comes almost 10 months after the platform's launch on Polygon, which aimed to provide exclusive benefits to ticket holders before and after events. SI Tickets CEO David Lane emphasized the advantages of NFT technology in ticketing, highlighting its ability to turn tickets into engagement and activation opportunities rather than disposable items. Lane also noted the growing intersection between NFTs and sports, predicting continued growth as fans recognize the value in NFT offerings, particularly in ticketing.

1. Last week was biggest week ever for crypto inflows

2. BTC holdings at Coinbase lowest in 9 years

3. Binance to shut down many levered tokens

4. Rates market sees hedging of Fed increasing rates

5. Starknet users drop 90% amid airdrop FUD

6. Hot NFTs: Sappy Seals, rektguy, World of Women

7. APE up 15%, leads top gaming coins

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