Ethereum’s price surged 5% within 24 hours, reclaiming the $3,200 level, with market sentiment showing significant improvement. This rally is mainly driven by two major factors: the official launch of the Fusaka upgrade and continued accumulation by whales and “shark wallets.”
Fusaka, Ethereum’s second major upgrade this year, has officially gone live, with its core change being the introduction of PeerDAS technology. This allows validators to process smaller data segments, improves network throughput, and significantly reduces transaction costs. The upgrade marks a key step toward Ethereum’s scalability and long-term performance goals and has received positive feedback from both developers and the user community.
On the capital side, “shark wallets” holding 1,000 to 10,000 ETH are rapidly accumulating, buying over 450,000 ETH from mid-November to December alone. A single-day increase of 190,000 new Ethereum wallets also reflects simultaneous growth in network activity and users. Despite previous large-scale sell-offs (such as the sale of 1.3 million ETH in October), the overall trend indicates that medium- to long-term buying power is dominant.
In terms of price action, ETH is currently trading within an ascending channel, with a short-term target range of $3,300 to $3,500. The RSI has risen to 71, indicating the market is overbought, but the Chaikin Money Flow (CMF) stands at 0.09, signaling strong buying pressure remains. Should a pullback occur, $3,000 is still a key support level.
Overall, with the combined forces of the network upgrade, whale accumulation, and market recovery, Ethereum is maintaining its upward trend. Whether it can break through $3,500 will be the next key focus for the market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Yesterday, spot Ethereum ETFs recorded net inflows of $13.84 million, with BlackRock’s staking version ETHB seeing inflows of $44.30 million.
According to Gate News, on April 9, Ethereum spot ETFs saw net inflows of $13.84 million yesterday. Among them, BlackRock’s staking version of ETHB performed best, with net inflows of $44.30 million, while the Grayscale series showed more notable net outflows.
GateNews52m ago
SUI Will Overtake Ethereum: Mysten Labs Co-Founder Makes Bold Call
A bold statement from Mysten Labs has pushed Sui back into the spotlight, especially as the conversation around scalability and real-world crypto payments continues to evolve. The claim centers on one idea. Future financial systems will demand fast and near-free transactions, and that
CaptainAltcoin1h ago
The Ethereum Foundation has sold 3,750 ETH at an average price of $2,214
Gate News message. On April 9, according to on-chain analyst Yu Jin monitoring, the Ethereum Foundation’s current plan is to sell 5,000 ETH. So far, it has completed the sale of 3,750 ETH, worth $8.3 million, with an average selling price of $2,214.
GateNews3h ago
Bitmine went on a buying spree, snapping up 71,000 Ether in a single week, setting the largest accumulation record since December last year
Bitmine Immersion Technologies increased its holdings by 71,252 Ether units last week, bringing its total to 4.8M units, with a total value of about $10.3 billion. Chairman Tom Lee believes Ether is at the tail end of its winter season and noted its hedging value amid the conflict in Iran. Since the outbreak of the war, Ether has gained a cumulative 6.8%.
区块客4h ago
The Ethereum Foundation teamed up with Biconomy to launch ERC-8211: AI agents can handle multiple DeFi contract interactions in a single transaction
The Ethereum Foundation and Biconomy have teamed up to launch the ERC-8211 standard, enabling AI agents to dynamically execute multi-step DeFi actions within a single signed transaction, determining parameters in real time based on on-chain state and overcoming the static limitations of ERC-4337. This standard does not require a fork at the protocol layer, making it easier for developers to adopt and further accelerating the integration of AI and DeFi automation.
動區BlockTempo6h ago
