Ethereum Surges Past $2,600 Amid Increased Trading Volume

Ethereum’s value increased to over $2,600 as of May 12, 2025, credited to a notable spike in trading volume and whale accumulation as reported by Crypto Rover on Twitter.

The price of Ethereum surged past $2,600, marking a 5.2% climb within 24 hours. This rise coincided with an 18% increase in trading volume, primarily observed across major exchanges such as Binance and Coinbase.

Crypto Rover, a recognized trader, highlighted the substantial whale accumulation as a driving force behind Ethereum’s breakout. Observations indicated that wallets holding over 1,000 ETH increased by 12%, reflecting added confidence in the cryptocurrency’s potential.

The Petra upgrade contributed to bullish sentiment by enhancing ETH burning mechanisms, removing 38,000 ETH from circulation. This move generated increased deflationary pressure, a catalyst attracting further institutional interest in Ethereum.

While the market is optimistic, some traders express caution due to bearish trends in ETH futures and ongoing USDT withdrawals. These signals could anticipate upcoming profit-taking or potential volatility.

Analysts highlight that the S&P 500’s 0.8% rise suggests a wider risk-on sentiment. This might entice more capital flow into Ethereum as investors explore alternatives to traditional assets.

Market observers, including veteran trader Peter Brandt, anticipate possible further gains if current resistance levels transform into firm support. He mentioned:

“If Ethereum breaks through its present congestion pattern, my 2025 target calls for $3,800–$4,800. The recent upgrade and whale activity make this a strong structure.”

Speculated price targets range between $3,800 and $4,800, contingent on sustained momentum from institutional flows.