Is Ethereum Coming Back Thanks To Donald Trump? '$5,000 By March,' Trader Vows
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. CryptocurrencyPrice Market Cap24-Hour Trend7-Day TrendEthereum 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. Nearly 4 years inside this massive bullish pennant and the local lows have all been swept.US Gov talking crypto stockpile, while the president keeps buying $ETH heavily.They know something we don't.Time for ETH to step back into the spotlights. pic.twitter.com/0BK0TdcXdS— Jelle (@CryptoJelleNL) January 24, 2025CrediBULL 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. Read Next: Why Ethereum Now Offers A 20% Tactical Gain: 10x Research This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.