Ethereum Price Surges Past $3,000 Amid ETH Foundation's Treasury Movements

Ethereum price has surpassed $3,000 for the first time since February, following the ETH Foundation transferring 21,000 ETH in the past two months. The token has increased by 6.6% in the past 24 hours and 22% in the past two weeks, with a daily trading volume of 62.9% compared to the previous trading day. The ETH Foundation has moved ETH around, with some traders accusing it of dumping its own token, while others defend the move as part of the network's new treasury policy.

Ethereum (ETH) has regained its footing, surging past the $3,000 mark for the first time since February. The second-largest cryptocurrency by market cap has seen a significant uptick in value, with a 6.6% increase in the past 24 hours and a 22% rise over the past two weeks. The token's daily trading volume has also surged by 62.9% compared to the previous trading day.

The price movement can be attributed to several factors. Notably, the Ethereum Foundation (ETHF) has transferred 21,000 ETH to its internal Gnosis Safe Proxy address over the past two months. This move, totaling approximately $62.8 million, has sparked debate among traders. While some accuse the Foundation of dumping its own token, others defend the action as part of the network's new treasury policy.

Institutional interest has also been a key driver of the price movement. Data from Glassnode reveals a spike in Open Interest on the Chicago Mercantile Exchange, reaching $3.27 billion, the highest level since February 2025. This increase indicates growing institutional capital flowing into the market, with professional traders taking larger positions in ETH derivatives contracts.

The corporate crypto treasury strategy has expanded beyond bitcoin to include ETH. Public companies like Sharplink Gaming and Bitmine Immersion Technology have added the asset to their balance sheets. One crypto investor noted that public companies are buying enough ETH to offset all the tokens created since the merge. ETH has one-ninth the market cap of bitcoin, requiring less capital to move the price.

Technical analysis shows minimal resistance between the current price and the $4,000 target. The rally occurred in three distinct phases during a 60-minute trading window, with ETH jumping 6% from $2,819.07 to $2,996.85 between 20:58 UTC and 21:57 UTC. Initial consolidation around $2,824 was followed by acceleration through resistance at $2,845, $2,870, and $2,920. The final advance pushed the price to $2,993.

CryptoQuant data shows retail investors are holding their ETH rather than sending it to exchanges. The number of Depositing Addresses on centralized exchanges dropped to 23,000 and continues trending downward. This behavior implies fewer funds are being sent to exchanges as investors choose self-custody. Historically, this pattern has been a bullish signal for price action.

However, one metric shows potential caution. Exchange Reserve data indicates the total amount of ETH held on centralized exchanges has increased to 18.9 million over the past day. Rising exchange balances could signal an incoming demand squeeze where supply exceeds demand. This situation could potentially lead to price drops if the trend continues.

The risk appears minimal for now since depositing addresses are still declining. Increased buying activity from institutional investors remains a major force sustaining ETH’s upward trajectory.

Market analysts point to ETH’s expanding role in settlement and tokenization infrastructure as a key driver. The token is increasingly seen as foundational for blockchain-based financial services. This infrastructure narrative has gained traction alongside the price rally. ETH’s utility in decentralized finance applications continues to grow.

The current momentum represents a shift from earlier in the cycle when ETH failed to reach new record levels. Unlike bitcoin or Solana, ETH has underperformed during this market cycle until recently.

CME Open Interest hitting multi-month highs indicates professional traders are positioning for continued upward movement. The $3.27 billion figure represents the highest level of institutional interest since February.

References:
[1] https://coincentral.com/ethereum-eth-price-institutional-demand-pushes-rally-past-3000/
[2] https://coinedition.com/ethereum-price-above-3000-record-etf-inflows-4000-breakout/
[3] https://crypto.news/ethereum-price-breaks-through-3000-after-eth-foundation-moves-21000-eth-in-the-past-two-months/