Ethereum ETH/USD is rallying amid a combination of improved scalability developments, accumulation by wallets connected to the Trump family and growing optimism among traders.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Ethereum ETH/USD | $3,390.73 | $408.6 billion | +3.6% | -1.5% |
| Bitcoin BTC/USD | $106,031.95 | $2.1 trillion | +0.3% | +1.2% |
| XRP XRP/USD | $3.16 | $181.9 billion | +0.09% | -2.8% |
Trader Notes: Trader Cold Blooded Shiller predicts Ethereum will hit $5,000 by March, noting the altcoin is breaking into new territory after months of consolidation.
Jelle highlighted a nearly four-year bullish pennant formation on Ethereum's chart, suggesting a breakout is imminent.
He noted that with Trump-related wallets reportedly buying ETH heavily, it could signal insider confidence in Ethereum's long-term potential.
CrediBULL Crypto emphasized the clean high-timeframe price action on ETH's chart, typically a precursor to significant reversals. He projects Ethereum reaching $10,000 minimum during this cycle, with $20,000 as a realistic target.
Statistics: IntoTheBlock data shows Ethereum's large transaction volume and daily active addresses increased by 21.4% and 0.9%, respectively, in single day.
Exchanges netflows widened by 31.2%. Transactions greater than $100,000 increased from 7,327 to 9,413 in a day.
Coinglass data shows open interest spiked 5.9% to $32.8 billion, reaching almost all-time highs. Derivative trading volume expanded by 50.2%.
Reports indicate Donald Trump's World Liberty Financial recently expanded its existing ETH holdings of 55,625 ETH, with a new purchase of 3,079 ETH, worth $10 million, bringing the total to over 58,000 ETH.
Trump wallets are reportedly staking millions of ETH, a move seen as a strong endorsement of Ethereum's long-term value.
Community News: Ethereum's creator, Vitalik Buterin, announced initiatives to address challenges in both Layer-1 (L1) and Layer-2 (L2) scalability. Key proposals include:
- More data blobs: Enhancing Ethereum's ability to handle higher throughput on the main chain.
- Advancing L2s: Continuing to strengthen the technical and social frameworks for Layer-2 solutions.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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