Ethereum NFT platform Foundation shuts down after failed Blackdove sale
Cointelegraph Ethereum·60-word summary·1 min read
Ethereum NFT platform Foundation is shutting down after a failed sale to Blackdove, which was expected to revitalize its operations. Since its launch in 2021, Foundation has processed approximately $230 million in primary NFT sales. The closure reflects ongoing challenges in the NFT market as platforms struggle to maintain viability amid changing consumer interests.
Ether wallet balances surged by 33%, indicating a bullish sentiment among investors. This increase may drive Ethereum's price trends, with speculation of a potential rally towards $3,000. The rise in wallet balances suggests growing confidence in the Ethereum network, which could influence market dynamics in the coming weeks.
Foundation, an Ethereum-based NFT marketplace, has permanently closed after a failed acquisition by Blackdove. Since its launch in 2020, Foundation processed approximately $230 million in digital art sales. The shutdown was confirmed by Kayvon Tehranian on April 15, 2026, marking a significant event in the NFT space as the market continues to evolve.
Ether's wallet balances increased by 33%, with a confirmed cup-and-handle breakout on ETH's chart. These signs suggest a potential rally to $3,000 for the altcoin, indicating bullish momentum in the market.
Wrapped XRP (wXRP) has launched on Solana, enhancing DeFi access for XRP holders. This follows Hex Trust's announcement in December that wXRP would be available on multiple platforms, including Solana, Optimism, Ethereum, and HyperEVM. The integration aims to broaden the utility of XRP in decentralized finance, potentially increasing its adoption and liquidity.
Ethereum is targeting a price of $2,400, driven by whale accumulation, while Solana remains stagnant in the $81–$89 range. The mixed market signals suggest a cautious approach for investors. Meanwhile, BlockDAG has gained attention with a casino announcement promising a potential 195x return, indicating a shift in investor focus towards innovative projects.
A trader turned $2,500 into nearly $500,000 in hours by investing in Ethereum-based meme coin ASTEROID, linked to Elon Musk. The rapid gain highlights the high volatility and speculative nature of meme tokens on Ethereum.
