TL;DR: Bullish

Ethereum bounced back, and we are back to the levels from the previous correction from April 12th.

We've recovered and rebuilt our support levels that got wiped in the last few days. A nice and healthy recovery, mostly thanks to positive job market data from the US.

https://preview.redd.it/ym6c000lgdyc1.png?width=547&format=png&auto=webp&s=76e95a238314e4a35e74c7cd4a9a19b33b0697af

77% of all Ethereum holders are in profit, could be better, but it's not too bad either:

https://preview.redd.it/gqyz5l2ygdyc1.png?width=318&format=png&auto=webp&s=51c7b7465ed41c6644382b50a1d2a080d0e83b9d

Overall Ethereum sentiment remains neutral for now, bears and bulls can't exactly decide where to go with this at the moment:

https://preview.redd.it/tzwgh9o2hdyc1.png?width=325&format=png&auto=webp&s=af1d5534cb8e6f4929a5dc712b95d81467c7ba03

It's also worth noting that Bitcoin has defended its position and bounced back after touching the Bullmarket Support Band and experienced a nice recovery carrying the rest of the market with it and shifted the sentiment slightly.

As much as I love ETH it's a good idea to keep an eye on what BTC is doing as well, "enemy of my enemy is my friend" and all that, you get the idea:

I mean look at that crazy whick lmao

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📰 Here's what happened in crypto in the past 24 hours:

🚔 ZKasino scam suspect arrested, $12.2M seized by Dutch authorities https://cointelegraph.com/news/zkasino-scam-suspect-arrested-dutch-authorities

💰 Vested crypto tokens worth over $3B to be unlocked in May https://cointelegraph.com/news/may-crypto-vesting-sui-pyth-network-unlock-tokens

🇳🇬 Crypto exchanges to meet Nigerian SEC chief for regulatory talks https://cointelegraph.com/news/nigeria-biccon-sec-roundtable-crypto-regulations

🐳 Biggest Friend.tech whale dumps tokens as users struggle to claim airdrop https://cointelegraph.com/news/friend-tech-airdrop-largest-recipient-sells-tokens ⚡️ UK gov’t calls for action on AI copyright, market competition https://cointelegraph.com/news/uk-government-response-parliamentary-report-ai-regulation

“One widely followed crypto analyst is warning Ethereum (ETH) traders that an ETH exchange-traded fund (ETF) approval from the U.S. Securities and Exchanges Commission (SEC) is unlikely to happen soon.”

“Crypto trader Michaël van de Poppe tells his 715,800 followers on the social media platform X that traders may have to wait a little longer for an ETH ETF.”

News in details: https://dailyhodl.com/2024/05/03/heres-why-one-crypto-analyst-doesnt-think-an-ethereum-etf-will-get-approval-despite-altcoin-bull-market/

“WE THINK THEY’RE SEEKING TO UNPLUG ETHEREUM AND WE THINK THAT’S JUST WRONG. THEY HAVE SORT OF DEPUTIZED THEMSELVES OF THE POLICE OF OPEN-SOURCE TECHNOLOGY IN A WAY THAT WE THINK IS OUTSIDE OF THEIR AGENCY AUTHORITY.”

SOURCE: https://blockcast.cc/news/u-s-is-trying-to-disconnect-from-ethereum-heres-what-this-exec-has-to-say/

What's good EthTrader fam and farmers,

3 months ago I created a farming guide on Mode: https://www.reddit.com/r/ethtrader/comments/1apljs8/still_early_to_farm_mode_a_step_by_step_guide_for/

I hope you guys followed it, because they just announced their official snapshot for 7th May!

1) How many Mode tokens will you get per point?

CC2 estimates 0.29 Mode per point

2) Tokens at TGE?

5.5% (550m) allocated to the community, and another 7.5% released - 1.3B circulating at first launch and 550m airdropped to the community

3. Finally, the important part- potential price per token:

u/ellileon shared a great graphic (special thanks to him for sharing), for marketcap/price per token

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https://preview.redd.it/trqvisi6zbyc1.png?width=1093&format=png&auto=webp&s=bce78a064bd2cbc2062293c3d28e0195c675ed31

If Market cap is around 500m, each Mode be 35 cents and every 10k points will give you $1069

If Market cap is around 130m, each Mode be 10 cents and every 10k points will give you $305

My estimate:

Personally, I think 1 Mode will be trading around 20 cents at launch - which is 260m circulating market cap and 2B FDV. Of course I hope for it to be higher and a lot higher but I think this is a reasonable estimate.

My top wallet has 13k points so that will give me around $1k even if this value would be a fairly average market cap airdrop I've gotten.

Did you qualify, and how much do you think Mode will be worth? Let us know in the comments!

Here are the top 10 most crypto-friendly nations:

1. Argentina 🇦🇷

2. United States 🇺🇸

3. Colombia 🇨🇴

4. Ukraine 🇺🇦

5. UAE 🇦🇪

6. Vietnam 🇻🇳

7. Turkey 🇹🇷

8. Canada 🇨🇦

9. Singapore 🇸🇬

10. Pakistan 🇵🇰

(11. India 🇮🇳)

Source: Business Today (which cites crypto.com as a source) https://www.businesstoday.in/technology/news/story/india-behind-pakistan-in-crypto-adoption-us-ranks-second-among-the-most-crypto-friendly-nations-428101-2024-05-03