News View Non-AMP

Ethereum Breaks $3,000 Barrier as Coinbase & BlackRock Place Big Bets

Published by
Mustafa Mulla

Ethereum (ETH), the world’s second-largest cryptocurrency, is currently on a remarkable upswing, catching the eye of investors worldwide. This surge is fueled by a mix of positive market sentiment, encouraging CPI Inflation data, and ongoing developments in the cryptocurrency world.

As of now, ETH is valued at $3,004.66, marking a significant 3.63% increase in the past day alone. This surge has propelled its market cap to an impressive $357 billion.

Key Developments For Ethereum

Behind Ethereum’s surge are several key developments. Notably, Coinbase, a major fintech player, has chosen Ethereum as its go-to network for on-chain products and services. This move signals strong confidence in Ethereum’s abilities and is likely to attract more users to Ethereum, boosting demand for Ether (ETH) tokens and driving prices higher.

Moreover, BlackRock, the world’s largest asset manager, is on the verge of approving an Ethereum spot ETF. This move has sparked institutional interest, potentially leading to significant investment flows into Ethereum.

Layer-2 Expansion

Additionally, Ethereum’s layer-2 networks are expanding rapidly, bringing down transaction costs and improving scalability. This makes Ethereum more attractive for various applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs).

ETH Technicals Remain Strong

From a technical standpoint, Ethereum has shown resilience amidst market volatility. Recent bullish momentum pushed the price above key resistance levels at $2,950 and $3,000, reaching a new weekly high at $3,039.

What’s Next for Ethereum?

Looking ahead, breaking above the $3,050 resistance could lead to further price gains, targeting levels around $3,220. On the flip side, failing to breach this barrier might trigger a downward correction, with support levels around $2,930 and $2,900.

Bullish or bearish on Ethereum? Join the discussion.

Also Check Out: Ethereum Price Prediction 2024, 2025: Will ETH Price Cross The $5000 This Year?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Avalanche Price Breaks February Low — $20.07 In Danger As ETF Delay Triggers Bears

Key Takeaways: AVAX dropped 13.49% this week to $20.07, breaking February’s low and nearing the…

May 31, 2025

Litecoin LTC Price Prediction 2025, 2026 – 2030: Can Litecoin Reach $1000 Dollars?

Story Highlights Litecoin price today is . Litecoin price may reach a potential high of…

May 31, 2025

Ethereum Price Forecast: Pullback Sparks Bullish Sentiment and Whale Action

Story Highlights Ethereum price fell nearly 10% to $2,530 after rejecting the $2,800 resistance. Analysts…

May 31, 2025

Polkadot Price Prediction 2025, 2026 – 2030: Will DOT Price Cross $10?

Story Highlights The live price of the Polkadot crypto token is . Polkadot price can…

May 31, 2025

Crypto’s Satoshi Nakamoto Overtakes Bill Gates as Bitcoin Hits New Highs

It's safe to say most of us did not see this coming! Bitcoin’s mysterious creator,…

May 31, 2025

Can Pakistan’s Bitcoin Mining Move Impact BTC Price? Experts Doubt It

Story Highlights Pakistan plans to allocate 2,000 MW for Bitcoin mining and create a national…

May 31, 2025