According to Crypto Rover, Ethereum (ETH) has reached the $2,500 mark, signaling what is being termed as 'utility season.' This breakout suggests renewed investor interest in ETH's ecosystem utility, particularly with increased adoption of DeFi platforms and NFT projects on the Ethereum blockchain (source: Crypto Rover, Twitter, May 10, 2025). Traders are closely monitoring ETH's price action for potential momentum continuation, as this milestone could drive further capital inflows into related altcoins and impact overall crypto market sentiment. With this price level, ETH traders should watch for resistance zones and possible profit-taking, while keeping an eye on volume spikes as confirmation of trend strength.

According to ZachXBT, in December 2022, a victim lost 14 Bored Ape Yacht Club (BAYC) NFTs through a targeted phishing scheme. The scammers utilized purchased X (formerly Twitter) accounts to pose as potential licensors interested in acquiring intellectual property rights for a film, luring the victim to a phishing website where they were tricked into signing a malicious message. This incident highlights increased risks for high-value NFT holders and underscores the importance of transaction verification and wallet security. The theft of these BAYC NFTs had a significant trading impact, causing temporary price fluctuations and raising concerns about security in the NFT and broader crypto markets (Source: ZachXBT on Twitter, May 9, 2025).