Ethereum Jumps 58% In A Month: How High Can It Go?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Vitalik Buterin introduces “partially stateless nodes” to reduce the burden of running a full Ethereum node.
Crypto traders say Ethereum is showing strong momentum, with $2,800 seen as a likely short-term target.
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Ethereum ETH/USD has surged 58% over the past month, buoyed by bullish technicals, key whale activity and improving fundamentals post-Pectra upgrade.

What Happened: According to Lookonchain, a whale deposited 7 million USDC into Hyperliquid. Out of that, 3.5 million USDC was used to buy 1,371.87 ETH spot at $2,551 and remaining USDC funded a 3x leveraged long on ETH at the same price.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Ethereum ETH/USD	$2,470.87	$298.6 billion	+1.7%	-2.2%
Bitcoin BTC/USD	$104,619.70	$2.07 trillion	+1%	+1.7%
XRP XRP/USD	$2.32	$136.4 billion	-0.06%	-7.5%

Trader Notes: Pentoshi, a prominent crypto trader, said ETH is regaining strength after reclaiming a key level and its 200-day moving average.

"Wouldn't sleep on Ethereum here," he added, pointing to strong buybacks and bullish momentum. His short-term target stands at $2,800.

Michael van de Poppe noted that sub-$2,400 was the optimal accumulation zone, a level briefly touched before ETH bounced back. He believes the correction phase is now over and hinted at future upside.

Statistics: Santiment data shows just 4.9% of ETH supply now sits on exchanges, an all-time low, while Bitcoin's exchange supply dropped to 7.1%, the lowest since 2018.

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Over 5 years, ETH’s exchange supply has fallen by 15.3 million, BTC's by 1.7 million.

Crypto investor Ted Pillows highlighted that Abraxas Capital added $115.3 million in ETH, bringing its holdings to $837 million.

IntoTheBlock data shows Ethereum's large transaction volume expanded 128.1% in a single day, while transactions greater than $100,000 expanded from 4,415 to 6,220.

Community News: Ethereum co-founder Vitalik Buterin unveiled the idea of "partially stateless nodes" in a blog post.

This would allow node operators to store only a subset of Ethereum's data rather than the full 1.3 terabytes, dramatically reducing hardware requirements.

The proposal could expand decentralization by enabling more users to run nodes with lower infrastructure demands, potentially a game-changer for Ethereum's scalability and participation.

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