Ethereum (ETH) price has delayed retesting $2,000 despite being inches away from this psychological level.

Ethereum Price Today: ETH is Down 1.08%, Trades at $1,825

Ethereum price today trades at $1,825 after dropping 1.08%. This outlook is likely to get worse as technicals suggest a waning momentum that could soon tip over, favoring bears. With Bitcoin price also showing signs of short-term correction, investors need to be cautious.

Why Ethereum (ETH) Rally to $2,000 is Delayed?

Despite the recent crypto market outlook, Ethereum has failed to muster the momentum or buying pressure to reach the $2,000 psychological level, same as Bitcoin (BTC). A closer look at the four-hour chart for ETH shows bearish divergence. The higher highs and higher lows formed since April 23 has been running on fumes. The RSI, on the other hand, has produced lower highs above the mean level. This non-conformity is termed bearish divergence. Often this setup results in a correction.

If this bearish divergence plays out, Ethereum price could slide down to $1,721 or revisit the $1,668 support level. Ideally, a bottom formation between $1,668 to $1,514 is a good confirmation for the bullish crypto market outlook.

Whales Scoop $1.047 billion ETH in 3 Weeks

While a short-term correction is part and parcel of the bull run, whales have taken advantage of the noise and consolidation by accumulation $1.047 billion worth of ETH since April 13. Santiment data shows that investors with 10k to 100k ETH in their wallets increased their holdings from 24.64 million to 25.23 million tokens.

As noted above the sentiment surrounding Ethereum might be bearish due to the lackluster performance in 2024 and 2025. Regardless, Ethereum has finished four consecutive months of a downtrend and a bounce here is highly likely. So what can investors expect next from Ethereum (ETH)?

What’s Next for ETH?

From a technical perspective, Ethereum (ETH) is the most hated altcoins and everybody is paying attention to its competitor – Solana (SOL). While Solana price may rally, the chances for Ethereum price to overshoot are high.

• From a conservative standpoint, $2k is a good target. But depending on the momentum, investors can expect Ethereum to rally to $3k before the year ends.
• If we are being highly optimistic and consider ETH to be an underdog, then expecting it to go beyond $4k is a good place to start. Some analysts are even expecting Ethereum price to hit $80k.

Regardless, time will tel what happens to the second-largest cryptocurrency in the world.

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Shiba Inu price has been lagging behind newer meme coins such as FARTCOIN and PEPE, which have registered notable gains in the last month. However, a recent spike in the SHIB burn rate and active address count has sparked speculation over whether the second-largest meme coin can compete with these new coins.

SHIB value today is flashing bearish signals with a 2% decline to trade at $0.000013 at press time. The dips come after the broader crypto market retreated after Bitcoin (BTC) slipped below $96,000.

Shiba Inu Price in Focus as Burn Rate Spikes 22,000%

A rally is brewing for the Shiba Inu price after a drastic surge in the burn rate. Data from Shibburn shows that in the last 24 hours, more than 27 million tokens have been removed from the circulating supply, with a single address burning more than 15 million SHIB.

The surging burn rate coincides with a surge in user activity after the active address count soared to the highest level in nearly two months. Data from Santiment shows that the number of active addresses in the last seven days has reached 23,014, which is the highest since late February.

As network usage grows, it triggers a surge in the burn rate as depicted in the above data, and this makes a bullish case for the Shiba Inu price prediction.

Can SHIB Compete with New Meme Coins?

In recent weeks, capital has been rotating from older meme coins to newer ones as traders chase quick profits. This capital rotation follows weak Shiba Inu price performance, considering that it has gained by only 9% in the last month. In contrast, FARTCOIN has soared by 196% during the same period, while PEPE is up by 23%.

However, given that old meme coins such as Dogecoin and SHIB are less volatile, traders might shift away from these newer coins if they show signs of a weakening trend. Moreover, analysts have also predicted an upcoming SHIB rally.

Hence, if the burn rate and active address count continue to rise, SHIB has the potential to compete against new meme coins. If these fundamentals weaken, then coins such as FARTCOIN will continue outperforming Shiba Inu.

Shiba Inu Technical Analysis

The price of Shiba Inu is breaking out of a descending parallel channel on the weekly chart, suggesting that the bearish momentum is growing weak, which may unlock an upward trend. However, SHIB still needs to overcome resistance at $0.0000173, at which point it will have created a higher high and confirm a shift trend from bearish to bullish.

However, this upswing will only be confirmed if the top meme coin can attract buy-side activity that will push the RSI above 50. Doing so will confirm the shift in market structure, and this will trigger the uptrend towards key resistance levels.

If the above bullish thesis fails and SHIB fails to make a decisive close above the descending trendline, it may spark a decline to the support level of $0.108. However, as long as the active address count and SHIB burn rate remain high, the meme token has the potential to sustain gains.

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Governor Katie Hobbs has vetoed a bill that aimed to let Arizona invest retirement funds in crypto assets like Bitcoin. The Senate Bill 1025 proposed adding virtual currency to the portfolio of the Arizona State Retirement System.

Hobbs rejected the policy earlier today, saying it puts “untested assets” into a program known for stable results.

In a letter to Senate President Warren Petersen, Hobbs said the state’s retirement system is one of the strongest in the country. She argued that crypto remains too risky and that retirement funds should not be used to test new markets.

Bitcoin Reserve Blocked as Governor Weighs Investment Risks

Senate Bill 1025 was one of the first efforts in the US to bring digital assets into public pension programs. Lawmakers in Arizona framed the bill as a forward-looking step, and they believed crypto could help diversify investment returns.

However, Governor Hobbs disagreed. She said the fund’s current strength comes from careful planning and tested investments. And so her decision now blocks any crypto exposure in the state’s pension accounts.

Public Investment Continues to Remain Out of Crypto’s Reach

Supporters of the bill have been arguing that adding Bitcoin and other digital assets could future-proof public funds. However, the opponents opine that the bill lacked proper risk models and oversight. The veto gives momentum to the cautious approach adopted by several state governments to manage public funds.

The bill would have led Arizona in public adoption of crypto assets, but that path now seems uncertain. Crypto assets will stay out of state-backed retirement portfolios unless lawmakers revise the proposal or rally enough votes to override the veto.

Arizona’s Crypto Bill Had Earlier Gained National Attention

Just days before the veto, Arizona lawmakers passed two bills that would have allowed the state to invest up to 10 percent of public funds in Bitcoin. Senate Bill 1025 and its counterpart, SB1373, passed both chambers and placed Arizona ahead of other states weighing similar moves. 

Some supporters saw the bill as a strategic way to hedge public funds against inflation. The veto now closes the door on what could have been the first state-level Bitcoin reserve in the country.

The pending bill, SB1373, would allow the state to reserve up to 10% of Arizona’s rainy-day funds in digital assets like Bitcoin. This bill is yet to reach a final vote. Several other US states like Oklahoma, Montana, South Dakota and Wyoming have also been pursuing similar efforts, but to no avail as yet.

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KULR Tech Group is making significant strides in the web3 space. On May 1, it was included in the newly-launched Grayscale Bitcoin Adopters ETF. The new ETF offers investors direct exposure to companies adopting Bitcoin as a treasury company.

Last year on December 4, 2024, the space, aerospace, and defense focused company commited up to 90% of its surplus cash reserves to be held in bitcoin. To date, KULR has acquired 668 BTC.

This decision marked a significant shift in KULR’s financial strategy – positioning Bitcoin as a primary asset in its treasury program.

Now, in its another significant move in web3, it has announced a new blockchain-based supply chain initiative.

KULR Launches Own Blockchain

In an official press release and company tweet, KULR revealed that it will move product tracking and custody verification from centralized software to a distributed ledger. This will help the company in recording each inventory item as a tamper-proof, timestamped entry on a private blockchain.

The company notes that “decentralizing the inventory tracking system on a blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain”.

The US-listed company has also revealed that one of the first product lines to be logged will be KULR’s NASA WI-37A–certified lithium-ion batteries.

Now, these batteries with space and aerospace applications will be permanently stored on-chain so that future users can verify performance and compliance.

Today, we are announcing the launch of a blockchain-secured supply chain initiative to safeguard our product-related data.

Decentralizing our inventory tracking system on blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain.… pic.twitter.com/HkhnCoqmhX

— KULR Technology (@KULRTech) May 1, 2025

New Blockchain Built on Coinbase’s Base

KULR has built its own private rollup on Coinbase’s Base Layer-2 (L2) blockchain – an Ethereum-powered network – to host this supply chain ledger.

This choice leverages a public blockchain infrastructure (Coinbase Base) for security and scalability. It will still keep the network permissioned under KULR’s control.

Under the new system, the company will represent each battery or part as a non-fungible token (NFT) on the blockchain.

Each token’s metadata – including test results, manufacturing details and certification data – will be recorded immutably.

When a customer purchases a battery, its NFT can be transferred to the buyer’s on-chain wallet or sent to a company “burn” wallet to signal the transfer of ownership.

For bulk orders, KULR will set up dedicated customer wallets to batch-transfer many NFTs at once.

Internally, the company has built a custom user interface linked to encrypted KULR-owned wallets. This dashboard would let staff monitor inventory and token transfers in real time.

Market and Investor Impact

The market reaction to the company’s blockchain announcement has been cautiously positive.

On Friday, one day after the blockchain and Grayscale ETF inclusion, KULR closed at $1.33 USD on May 2. This marks a 4.72% increase from the previous day’s close of $1.27.

Company has also hinted at more initiatives towards blockchain and Bitcoin adoption.

On the inclusion in Grayscale Bitcoin Adopters ETF, Kurl CEO has said, “Honored to be included in Grayscale’s Bitcoin Adopters ETF. Appreciate the recognition as we continue building KULR Tech into a category-defining company at the intersection of space, defense, AI, and Bitcoin.”

Thus, with more near-term crypto plans in line, KULR is likely to draw attention from both energy-sector investors and digital-asset enthusiasts.

Also Read: Bitcoin Price to $1M Prediction

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Crypto tax is perhaps the most feared tool in the government’s arsenal to regulate the explosive growth of digital assets. An uncertainty here is never a welcome sign. The crypto community in the US is now looking at a new type of tax uncertainty as two senior IRS crypto officials leave at a crucial juncture. 

Seth Wilks and Raj Mukherjee, who helped develop the digital asset policy, have left their posts just as the 1099-DA form nears its first enforcement deadline. They joined the IRS just last year and stepped away from their roles on May 2 under a federal DOGE’s voluntary resignation program. 

Their exit comes as traders, platforms, and tax professionals prepare for the mandatory use of the 1099-DA form in 2025, a form created to help brokers report crypto activity more accurately and consistently.

Crypto Tax Leaders’ Resignations Leave a Critical Gap

Wilks and Mukherjee were leaders of the IRS Digital Asset Initiative, and they were responsible for guiding how crypto activity should be tracked and reported. They were brought in to help lead the agency’s efforts to build service, reporting, compliance, and enforcement programs on cryptocurrency and other digital assets. 

The duo’s work has shaped key aspects of the 1099-DA form and also helped align tax implementation with blockchain practices.

Now with both out of the office, the crypto tax regime faces a leadership vacuum. Without clear replacements, users and exchanges may not know what to expect from the IRS in the next few months. Any delay in guidance can increase the compliance risk or lead to confusion during the next tax cycle.

Digital Asset Rules May Shift Without Industry-Informed Leadership

Both leaders brought crypto industry experience into the IRS. Wilks previously worked with TaxBit, and Mukherjee held senior tax roles at ConsenSys and Binance. This helped build a bridge between regulators and platforms, and that balance can be lost if successors lack the same understanding.

The pair also worked on DeFi reporting rules, some of which were reversed by Congress earlier this year. Clarity on those rules may also be delayed with their departure.

IRS Staff Exits Add Pressure Before 2025 Filing Begins

Earlier this year, the Department of Government Efficiency (D.O.G.E.) introduced a voluntary resignation program that offered federal employees the option to leave the workforce early. More than 20,000 IRS staff members signed up, including those in digital asset oversight. 

This tsunami of exits created major staffing gaps across departments. And since then, the IRS has not named any successors for its crypto tax division yet. Until the appointments, the crypto community is likely left without any clear direction.

Amid the policy uncertainty, the crypto community has been urging the government for clarity for a long time now. The prominent crypto lawyer John Deaton recently outlined a five-point plan for crypto regulation in the United States, calling for urgent action to establish clear rules.

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