Key takeaways:

Ethereum has reclaimed a key level that preceded 100%+ rallies and triggered past altseasons.

Altcoin market cap could surge toward $15 trillion if Bitcoin dominance repeats its post-halving drop.

Despite bullish signals, ETH remains fragile, with $123B in supply near cost basis at risk of flipping into a loss.

Ethereum’s native token, Ether (ETH), has reclaimed a key technical level that has historically preceded sharp price gains and marked the start of an “altseason” across multiple market cycles in the last five years.

ETH price can double in the coming months

The level in question is the mid-line (~$2,600) of the Gaussian Channel — a moving average-based band that tracks long-term momentum — on the 2-week chart.

ETH/USD two-week price chart. Source: TradingView

In 2020-2021, ETH rallied from $400 to over $4,800 after closing above the Gaussian mid-line. A similar move in late 2023 saw ETH climb from below $1,500 to nearly $4,000 within a year.

In both instances, ETH quickly advanced toward and broke above the channel’s upper band as momentum built.

As of May 2025, that upper band sat near $3,200, making it the next key resistance. A breakout above this level could open the path toward the previous cycle high of $4,100 by July.

Related: Ethereum price chart targets $4K as transaction fees hit 3-month high

The next ETH pump may start altseason — Analysts

ETH price rally may further influence the broader altcoin market to rise alongside, according to market analyst Moustache, who cited the same Gaussian Channel fractal.

Source: Moustache

The combined market cap of the altcoin market, excluding Ethereum, surged by over 1,400% over a year after Ether’s close above the channel’s midline in July 2020.

Similarly, the altcoin market cap gained by more than 200% a year after ETH’s midline breakout in November 2023.

ETH/USDT two-week price chart. Source: TradingView

The prospect of a 2025 altseason strengthens with a repeating post-Bitcoin-halving pattern.

In both 2017 and 2021, Bitcoin dominance dropped sharply around 400 days after the halving, triggering altcoin rallies. With the April 2024 halving nearing the same period, a similar decline could occur within the next 100 days.

BTC.D performance chart. Source: Wimar X

Analyst Wimar X expects the altcoin market cap to surge toward $15 trillion if the trend repeats.

Ethereum metric warns about potential bull trap

The largest portion of ETH’s market cap — around $123 billion — is held by investors who bought between $2,300 and $2,500, according to onchain data from Glassnode.

ETH market cap by profit and loss. Source: Glassnode

If ETH’s price drops even slightly below this range, a large number of holders would fall into a loss. That could increase the risk of panic selling, adding pressure to the market.

So while ETH is showing technical strength, its support remains shallow unless it can move further away from this cost zone.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs

What if you could prove you’re over 18, without revealing your birthday, name, or anything else at all? Zero-knowledge proofs (ZKPs) make this hypothetical a reality and solve one of the key challenges online: verifying age without sacrificing privacy. 

The need for better age verification today

We’re witnessing an uptick in laws being proposed restricting minors’ access to social media and the internet, including in Australia, Florida, and China. To protect minors from inappropriate adult content, platform owners and governments often walk a tightrope between inaction and overreach. 

For example, the state of Louisiana in the US recently enacted a law meant to block minors from viewing porn. Sites required users to upload an ID before viewing content. The Free Speech Coalition challenged the law as unconstitutional, making the case that it infringed on First Amendment rights.

The lawsuit was eventually dismissed on procedural grounds. The reaction, however, highlights the dilemma facing policymakers and platforms: how to block minors without violating adults’ rights or creating new privacy risks.

Traditional age verification fails

Current age verification tools are either ineffective or invasive. Self-declaration is meaningless, since users can simply lie about their age. ID-based verification is overly invasive. No one should be required to upload their most sensitive documents, putting themselves at risk of data breaches and identity theft. 

Biometric solutions like fingerprints and face scans are convenient for users but raise important ethical, privacy, and security concerns. Biometric systems are not always accurate and may generate false positives and negatives. The irreversible nature of the data, which can’t be changed like a regular password can, is also less than ideal. 

Other methods, like behavioral tracking and AI-driven verification of browser patterns, are also problematic, using machine learning to analyze user interactions and identify patterns and anomalies, raising concerns of a surveillance culture.

ZKPs as the privacy-preserving solution

Zero-knowledge proofs present a compelling solution. Like a government ID provider, a trusted entity verifies the user’s age and generates a cryptographic proof confirming they are over the required age.

Websites only need to check the proof, not the excess personal data, ensuring privacy while keeping minors at the gates. No centralized data storage is required, alleviating the burden on platforms such as Google, Meta, and WhatsApp and eliminating the risk of data breaches. 

Recent: How zero-knowledge proofs can make AI fairer

Adopting and enforcing ZKPs at scale

ZKPs aren’t a silver bullet. They can be complex to implement. The notion of “don’t trust, verify,” proven by indisputable mathematics, may cause some regulatory skepticism. Policymakers may hesitate to trust cryptographic proofs over visible ID verification. 

There are occasions when companies may need to disclose personal information to authorities, such as during an investigation into financial crimes or government inquiries. This would challenge ZKPs, whose very intention is for platforms not to hold this data in the first place.

ZKPs also struggle with scalability and performance, being somewhat computationally intensive and tricky to program. Efficient implementation techniques are being explored, and breakthroughs, such as the Noir programming language, are making ZKPs more accessible to developers, driving the adoption of secure, privacy-first solutions. 

A safer, smarter future for age verification

Google’s move to adopt ZKPs for age verification is a promising signal that mainstream platforms are beginning to embrace privacy-preserving technologies. But to fully realize the potential of ZKPs, we need more than isolated solutions locked into proprietary ecosystems. 

Crypto-native wallets can go further. Open-source and permissionless blockchain-based systems offer interoperability, composability, and programmable identity. With a single proof, users can access a range of services across the open web — no need to start from scratch every time, or trust a single provider (Google) with their credentials.

ZKPs flip the script on online identity — proving what matters, without exposing anything else. They protect user privacy, help platforms stay compliant, and block minors from restricted content, all without creating new honeypots of sensitive data.

Google’s adoption of ZKPs shows mainstream momentum is building. But to truly transform digital identity, we must embrace crypto-native, decentralized systems that give users control over what they share and who they are online.

In an era defined by surveillance, ZKPs offer a better path forward — one that’s secure, private, and built for the future.

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs

What if you could prove you’re over 18, without revealing your birthday, name, or anything else at all? Zero-knowledge proofs (ZKPs) make this hypothetical a reality and solve one of the key challenges online: verifying age without sacrificing privacy. 

The need for better age verification today

We’re witnessing an uptick in laws being proposed restricting minors’ access to social media and the internet, including in Australia, Florida, and China. To protect minors from inappropriate adult content, platform owners and governments often walk a tightrope between inaction and overreach. 

For example, the state of Louisiana in the US recently enacted a law meant to block minors from viewing porn. Sites required users to upload an ID before viewing content. The Free Speech Coalition challenged the law as unconstitutional, making the case that it infringed on First Amendment rights.

The lawsuit was eventually dismissed on procedural grounds. The reaction, however, highlights the dilemma facing policymakers and platforms: how to block minors without violating adults’ rights or creating new privacy risks.

Traditional age verification fails

Current age verification tools are either ineffective or invasive. Self-declaration is meaningless, since users can simply lie about their age. ID-based verification is overly invasive. No one should be required to upload their most sensitive documents, putting themselves at risk of data breaches and identity theft. 

Biometric solutions like fingerprints and face scans are convenient for users but raise important ethical, privacy, and security concerns. Biometric systems are not always accurate and may generate false positives and negatives. The irreversible nature of the data, which can’t be changed like a regular password can, is also less than ideal. 

Other methods, like behavioral tracking and AI-driven verification of browser patterns, are also problematic, using machine learning to analyze user interactions and identify patterns and anomalies, raising concerns of a surveillance culture.

ZKPs as the privacy-preserving solution

Zero-knowledge proofs present a compelling solution. Like a government ID provider, a trusted entity verifies the user’s age and generates a cryptographic proof confirming they are over the required age.

Websites only need to check the proof, not the excess personal data, ensuring privacy while keeping minors at the gates. No centralized data storage is required, alleviating the burden on platforms such as Google, Meta, and WhatsApp and eliminating the risk of data breaches. 

Recent: How zero-knowledge proofs can make AI fairer

Adopting and enforcing ZKPs at scale

ZKPs aren’t a silver bullet. They can be complex to implement. The notion of “don’t trust, verify,” proven by indisputable mathematics, may cause some regulatory skepticism. Policymakers may hesitate to trust cryptographic proofs over visible ID verification. 

There are occasions when companies may need to disclose personal information to authorities, such as during an investigation into financial crimes or government inquiries. This would challenge ZKPs, whose very intention is for platforms not to hold this data in the first place.

ZKPs also struggle with scalability and performance, being somewhat computationally intensive and tricky to program. Efficient implementation techniques are being explored, and breakthroughs, such as the Noir programming language, are making ZKPs more accessible to developers, driving the adoption of secure, privacy-first solutions. 

A safer, smarter future for age verification

Google’s move to adopt ZKPs for age verification is a promising signal that mainstream platforms are beginning to embrace privacy-preserving technologies. But to fully realize the potential of ZKPs, we need more than isolated solutions locked into proprietary ecosystems. 

Crypto-native wallets can go further. Open-source and permissionless blockchain-based systems offer interoperability, composability, and programmable identity. With a single proof, users can access a range of services across the open web — no need to start from scratch every time, or trust a single provider (Google) with their credentials.

ZKPs flip the script on online identity — proving what matters, without exposing anything else. They protect user privacy, help platforms stay compliant, and block minors from restricted content, all without creating new honeypots of sensitive data.

Google’s adoption of ZKPs shows mainstream momentum is building. But to truly transform digital identity, we must embrace crypto-native, decentralized systems that give users control over what they share and who they are online.

In an era defined by surveillance, ZKPs offer a better path forward — one that’s secure, private, and built for the future.

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.