🚀 **Ethereum on the Rise: Bullish Trends and Layer-2 Magic!** 🚀

Ether (ETH) soared 16.2% on Aug. 8 but faced resistance at $2,700. Despite this, ETH is poised for a bullish run, thanks to a favorable macroeconomic backdrop and booming Ethereum network activity.

- **Spot Ether ETF Drama:** Some blame ETF outflows for ETH's performance hiccups. But with Grayscale’s ETHE outflows slowing, the tide might turn soon.

- **Fed’s Friendly Moves:** Traditional finance is optimistic about potential interest rate cuts in 2024, which could boost risk markets like crypto.

**Ethereum Network Power-Up:**

- DApp activity surged 55% this week, led by Uniswap, 1inch, and CoW Swap.

- Ethereum’s total value locked (TVL) hit 19.7 million ETH, its highest since Nov. 2022.

**Layer-2 Solutions to the Rescue:**

- Critics worry about high transaction fees, but layer-2 solutions like Arbitrum and Optimism are crushing it, processing 24x more transactions than the main chain!

💬 What do you think? Will ETH hit $3,000 soon? Drop your thoughts below! 💬