$ETH
As of May 3, 2025, Ethereum (ETH) is trading at approximately $1,824.88, reflecting a slight decline of 0.005% over the past 24 hours.
Key Developments:
Institutional Investment: BlackRock has made a significant move by purchasing 10,955 ETH, valued at $20.1 million, indicating strong institutional interest in Ethereum.
Technical Indicators: Ethereum's monthly chart has formed a long-legged doji, a candlestick pattern that often signals market indecision and potential trend reversals.
On-Chain Metrics: There's a notable decrease in Ethereum's exchange supply, suggesting that investors are moving their holdings to long-term storage, which could indicate bullish sentiment.
Upcoming Upgrades: The Pectra upgrade, scheduled to go live next week, aims to enhance Ethereum's staking mechanisms and overall network efficiency.
Price Predictions: Analysts are optimistic about Ethereum's price trajectory, with some forecasting a potential rise to $2,200 in May, supported by increased whale accumulation and positive on-chain signals.
Despite these positive indicators, Ethereum has underperformed compared to Bitcoin and Solana in Q1 2025, experiencing a 45% dip. However, some analysts view this as a potential buying opportunity, suggesting that Ethereum may be undervalued at its current price.
