The price of Ethereum has entered a bullish phase, thanks to several key factors, including updates from co-founder Vitalik Buterin and the activity of large investors.
RISC-V Architecture for Ethereum’s Execution Layer
Vitalik Buterin proposed an improvement for Ethereum’s execution layer by adopting the RISC-V architecture. This change aims to modernize the Ethereum Virtual Machine (EVM) for greater efficiency and scalability. RISC-V, being an open-source architecture, will simplify future upgrades while reducing operational complexity. Buterin noted that this shift could enhance Ethereum’s execution capability and long-term adaptability.
The RISC-V model will allow the network to adopt a more standardized framework, enabling faster innovation and establishing a stronger foundation for developer tools. Such improvements were deemed necessary as Ethereum faces growing competition from newer layer-1 chains.
Whale Accumulation Signaled Institutional Confidence
On-chain data revealed a surge in high-volume transactions involving Ethereum, indicating increased interest from large investors. Data from LookOnChain highlighted multiple large ETH acquisitions over a short duration, including one whale withdrawing 3,844 ETH worth $6.5 million from Bitget and later purchasing an additional 1,897 ETH for $3 million.
Another significant wallet purchased 6,528 ETH in a single transaction totaling $10.69 million. These actions occurred following Buterin’s upgrade announcement and Ethereum’s breakout above key technical levels. Historical records indicated that similar accumulation patterns preceded Ethereum’s rallies in 2020 and 2021.
Ethereum Price Entered Mark-Up Phase
Crypto analyst Trader Tardigrade indicated that the price of Ethereum is within a well-documented three-phase cycle. According to his chart, ETH price exited the recovery phase and moved into the Mark-Up Phase, which has historically aligned with extended upward momentum in previous market cycles.
In 2020, Ethereum's price followed a similar trajectory. Tardigrade’s analysis indicated that ETH price broke through a long-term descending trendline and successfully retested it as support, confirming structural changes. Although specific price targets were not projected, the overall market setup closely resembles previous bullish cycles.
Current trends in the Ethereum market indicate renewed interest from traders and large investors, potentially leading to continued price growth.
