Ether (ETH) price increased 5.5% on May 17, approaching $3,100 for the first time in 10 days. Experts attributed the increase to reduced demand for fixed income instruments following stable US retail sales data in April. This data increased market expectations of a potential interest rate cut by the Fed to stimulate like economics. 📈

Court verdict boosts Ether investor confidence

The price increase of Ether was also due to accusations by the US Department of Justice (DoJ) on May 15. This allegation alleges that two individuals committed fraud and money laundering by manipulating the Ethereum blockchain.

According to Orlando Cosme, founder and CEO of Lexproof, such a ruling contradicts the regulators' classification of ETH as a security instrument "because there is no management or trading effort by others."

The dominance of the Ethereum network remains undeniable

Ethereum's power becomes clear when analyzing its dominance in decentralized application (DApps) operations. The growth of layer 2 solutions like Base, which has quickly attracted attention due to its low fees and integration with the largest US crypto exchange, Coinbase, further strengthens Ethereum's ability to become a global settlement layer .

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