Aztec Network, the Ethereum privacy Layer 2 project, just dumped its last 5,020 ETH worth $12.33 million into Coinbase nine hours ago, marking the complete cash-out of proceeds from last December's $AZTEC token auction. The team raised 19,388.4 ETH valued at $59.13 million by selling 15% of the supply—1.5 billion $AZTEC tokens—at $0.0473 each, but the token has since plunged 50% in this volatile crypto market crash. This move underscores shifting dynamics in Ethereum Layer 2 solutions, where privacy-focused projects face mounting pressure amid broader ETH price prediction uncertainties.

From a technical confluence standpoint, ETH trades at $2,422.87 in a clear bullish structure, hugging the upper Bollinger Band resistance at $2,436.14 while the MACD screams bullish momentum with a golden cross at 34.13. RSI sits neutral at 65.61, not yet overbought, suggesting room for upside before any exhaustion—watch for confluence at the EMA50 support of $2,301.75 if sellers step in, potentially mirroring Bitcoin's recent consolidation patterns for that next leg higher in this hype-driven cycle.