The co-founder of Ethereum, Vitalik Buterin is termed as one of the most active donors in the vast crypto market, as per a recent X post from a blockchain analysis firm he has donated 320 Ether to Coin Center.
In the same post, Lookonchain notes that Buterin’s address reportedly sold some held memecoins, after which he initiated a transaction worth millions to Coin Centre.
It is worth noting that the donated amount will majorly be used in educating lawmakers, expanding its assets, and conveying the unexplored potentials of blockchain technology. His back-to-back donation mirrors his intentions to help the needy, as reportedly he has transferred cryptocurrencies several times to different locations to help them.
When writing Ethereum was trading at $3,421 with an intraday growth of 4 percent, it is worth noting that almost every digital asset saw a sudden spike after the recent Trump victory.
If Ethereum (ETH) closes below $3,330 and fails to surpass the $3,454 weekly resistance, it may face a downward correction, potentially revisiting the $3,000 support level.
On the four-hour chart, ETH maintains a bullish outlook. The 50-day moving average continues to climb, signaling strong short-term momentum. Additionally, the 200-day moving average has been on an upward trajectory since November 23, 2024, reinforcing a positive long-term trend.
Market experts have assessed Ethereum’s price movements throughout 2024. Their January 2025 predictions indicate a potential peak price of $3,587.93 and a possible low of $2,591.74, with the average price likely to settle around $3,089.84.
Ethereum to beat $4k in the coming sessions!
Beyond Ethereum, traders are turning their attention to memecoins like Bonk and others, seeking opportunities for higher returns.
As the cryptocurrency market gears up for the next major bull cycle, there is growing speculation among investors and analysts about the possibility of Ethereum hitting the $10,000 mark by 2025.
This optimistic outlook is driven by factors such as advancements in blockchain technology, increased institutional participation, and the rapid expansion of decentralized finance (DeFi).
However, it is crucial to recognize the inherent volatility of the cryptocurrency market, and such projections should be approached with a healthy dose of caution.
On the technical front, Ethereum’s price remains above all its Simple Moving Averages on the ETH/USDT daily chart. This bullish trend suggests it could retest the $3,500 level by the end of this week.
Ethereum’s smart contract functionality has been a driving force behind the rise of DeFi platforms. These innovative applications are transforming traditional finance by enabling lending, borrowing, and earning interest without relying on centralized banking institutions.
In the past 24 hours, the broader cryptocurrency market has exhibited bearish trends, with the total market capitalization dropping to $3.21 trillion. Bitcoin has fallen by over 3% in the last 48 hours, trading below the $95k mark.
In August 2024, Todayq reported that Vitalik Buterin transferred 400 Ether to Railgun. Later, on August 9, 2024, Lookonchain verified a transfer of 3,000 ETH to a multisig wallet.
