Ethereum is slipping by more than 2% as massive $2.5 billion USDT burn on Ethereum dragged its price prediction down. Although ETH barely flinched, as traders believe the burn looks more like Tether moving liquidity than an exit.
Large redemptions often reflect supply shifting between networks instead of cash leaving crypto altogether. Trading volume stayed around $10 billion, showing buyers and sellers kept business humming.
CryptoQuant: Tether Burns $2.5 Billion USDT on Ethereum, Largest Since February
According to CryptoQuant, Tether burned $2.5 billion worth of USDT on the Ethereum network on July 7, marking its largest single burn since February 2026. Meanwhile, Binance’s USDT balance on the… pic.twitter.com/ymtNXGqpjQ— Wu Blockchain (@WuBlockchain) July 8, 2026
Even so, Ethereum has held onto much of its recent recovery. The token remains roughly 10% higher than a week ago despite today’s pullback. That suggests traders are taking profits without triggering the kind of panic that usually sends charts into freefall.
Attention now shifts to upcoming U.S. inflation and policy updates, which could spark the market’s next move. Until then, Ethereum may keep drifting inside its current range. Traders seem content to wait, even if the blockchain never really sleeps.
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Can Ethereum Price Hit $1,850 This Week?
Ethereum is trading around $1,730 after losing momentum from its recent rebound. The latest pullback has pushed price below the previous support zone, putting sellers back in control. Bulls have some work to do before anyone starts talking about a comeback.
The first support now sits around $1,700. If that level fails, Ethereum could slide toward $1,620, with $1,530 as the next major downside target. Catching a falling knife sounds exciting until you remember who usually gets cut.
Bitcoin (BTC)24h7d30d1yAll time
Meanwhile, resistance has shifted lower to the $1,750 to $1,770 area. Ethereum needs to reclaim that zone before traders can target $1,845 and $1,865 again. A stronger recovery could eventually bring $1,975 into view, but that remains a stretch for now.
The base case is continued choppy trading while investors wait for fresh macro catalysts. However, a sustained move back above $1,770 would improve the technical picture. Until then, the bears have the upper hand, even if they still can’t resist taking a victory lap too early.
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LiquidChain Targets Early Mover Upside as Ethereum Tests Key Levels
ETH at $1,750 is a recovery, not a breakout. Traders positioned since the $1,500 low are sitting on 10% gains, but the $1,865 resistance wall means meaningful additional upside requires a macro catalyst that isn’t confirmed yet. For capital looking for asymmetric exposure without waiting on the next Fed print, early-stage infrastructure plays carry a different risk-reward profile entirely.
LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as a unified cross-chain execution environment, fusing Bitcoin, Ethereum, and Solana liquidity into a single layer.
An L3 crafted by LiquidChain?
That is the most powerful type of Magic.⟁https://t.co/vqvBcdSQYC pic.twitter.com/7Rwd3fVOGc
— LiquidChain (@getliquidchain) July 6, 2026
The architecture (Unified Liquidity Layer, Single-Step Execution, Verifiable Settlement, Deploy-Once) targets the fragmentation problem that makes cross-chain development genuinely painful.
As of today, the presale is currently priced at $0.01477, with $890K raised. Recent coverage has tracked its trajectory toward the $900,000 milestone.
Research LiquidChain before making any allocation decision.
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