Blog

Ethereum price surges past $2,000 as Trump’s trade deal and Pectra upgrade ignite bullish momentum across the crypto and global markets.

Ethereum Price Surges Past $2,000 on Trump-Driven Market Optimism

Ethereum price surged above $2,000 on Thursday to hit a 120-day peak, boosted by multiple bullish macro pointers. ETH now trades around $2,000 with a 10% daily gain, outpacing Bitcoin’s 3% rally which saw gains capped just below the $101,000 level at press time.

This divergence in ETH price and BTC performance can be attributed to unique internal dynamics within the Ethereum network updates and Trump’s trade deals igniting optimism across global financial marketrs.

Why is Ethereum Price Outperforming Bitcoin Today?

Ethereum has outperformed Bitcoin in the last 24 hours due to a convergence of two powerful tailwinds.

On the macro front,  Trump announced a landmark trade deal with the UK, boosting global market confidence. He also signaled more trade agreements are underway, while authorities in China also confirmed talks with the Trump administration over ongoing tarrifs.

Simultaneously, the Ethereum network underwent its long-awaited Pectra upgrade, leading to a rare situation where centralized exchanges such as Coinbase and Binance paused ETH withdrawals. This temporary freeze limited retail sell pressure precisely when bullish momentum returned to the market, creating a supply squeeze that pushed ETH ahead of Bitcoin.

The Pectra upgrade success, last week, Vitalik Buterin introduced a comprehensive roadmap aimed at fixing Ethereum’s key limitations within five years. This followed internal leadership changes at the Ethereum Foundation, signaling a renewed push for institutional-grade scalability and decentralization.

The timing of these developments, Pectra’s implementation, bullish macro news, and internal network confidence, has created a unique alignment propelled Ethereum price gains over Bitcoin during the market rally on Thursday.

Ethereum Tokens to Watch as Traders Bet $1.8 Billion on Trump’s Trade Deal and Ethereum Upgrades

Coingecko’s data shows that Ethereum ecosystem tokens attracted over $1.8 billion in trading volume over the last 24 hours, withe aggregate market cap approaching the $55 billion mark.

The standout performers are:

• PEPE surged 17.0% to $0.00006, propelled by memecoin momentum and a resurgence in whale accumulation patterns.

• Virtuals Protocol (VIRTUAL) advanced 21.0% to $1.62, buoyed by speculative inflows targeting emerging DeFi infrastructure projects.

• Chainlink (LINK) climbed 9.4% toward the $15 mark, supported by rising cross-chain transactions, demand for tokenized assets and increased investor attention due to its association with Trump-backed Word Liberty Financial (WLFI).

• AAVE rallied 10.6% to break above $187, signaling revived institutional appetite for Ethereum-based lending and borrowing protocols.

Beyond market catalysts, US domestic policy took a favorable turn for crypto. In the last 24 hours, Arizona, Oregon, and New Hampshire passed state-level cryptocurrency investment bills, offering legal clarity for retail and institutional investors.

Ethereum price forecast today: What’s Next after $2,000 breakout?

Ethereum price breakout above the psychologically significant $2,000 mark on Thursday signals a decisive shift in market momentum.

The 14.49% daily gain combined with risk volume confirms strong bullish participation, with the candlestick clearly breaching the upper Bollinger Band—a sign of heightened volatility and aggressive buyer control. This move decisively pulls ETH out of its prior consolidation range, where price had been coiling between $1,800 and $1,900 for nearly three weeks.

Importantly, the Relative Strength Index (RSI) has surged to 73.07, placing Ethereum in technically overbought territory. However, overbought RSI levels during early-stage breakouts often validate strength rather than suggest immediate reversal, particularly when supported by strong volume and fundamental catalysts as obsereved in the past week.

The middle Bollinger Band (near $1,786) now serves as a dynamic support, reinforcing the breakout’s structural integrity.

Ethereum price forecast today remains bullish, provided ETH sustains above $1,990—the upper Bollinger Band.

A weekly close above this level may open the path toward $2,250. On the flip side, any pullback below $1,900 would suggest a failed breakout and invite profit-taking pressure.

The post Ethereum Price Analysis: Trump’s UK Trade Deal Sparks $1.8 Billion Demand for ETH, Chainlink and PEPE in 24 Hours appeared first on CoinGape.

Alex Mashinsky, the co-founder of defunct crypto lender platform Celsius Network, was sentenced to a 12-year jail term on May 8. This sentence follows a series of legal proceedings that followed his guilty plea last December over his firm’s collapse. Specifically, Alex Mashinky was sentenced for misappropriating customers’ funds and manipulating the CEL token.

Alex Mashinsky Sentence: Another Precedence Set

It is worth noting that the Celsius Network Founder pled guilty to one count of committing commodities fraud and another count of committing securities fraud. The lending platform collapsed in 2022 and filed for bankruptcy shortly after the Terra Luna crash in May 2022.

The fall from that Terra collapse has affected many other entities, including crypto exchange FTX. As reported earlier by CoinGape, the DOJ recommended a 20-year sentence for the crypto pioneer. The 12-year sentence marks a considerable leniency for Alex Mashinky.

This is a breaking news, please check back updates!!!

The post Breaking: Celsius Network Founder Sentenced to 12 Years in Prison for Crypto Fraud appeared first on CoinGape.

The US Securities and Exchange Commission (SEC) and Ripple have taken another step in their long-running legal battle as they look to put the XRP lawsuit to bed. This time, the Commission has filed a settlement letter, asking Judge Analisa Torres to set aside her judgment against the crypto firm.

XRP Lawsuit: SEC Asks Judge Torres To Adopt Settlement Agreement

In a court filing, the SEC requested an indicative ruling from Judge Torres pursuant to its settlement agreement with Ripple. As part of the ruling, the Commission asked that the Court dissolve the injunction it awarded against Ripple in the final judgment in the XRP lawsuit.

The agency also asked that Judge Torres order the release of the $125 million penalty ordered against Ripple from escrow. The SEC would receive $50 million in satisfaction of the monetary judgment, while Ripple would receive the remaining sum.

As CoinGape reported, the Appeal Court had earlier granted the SEC and Ripple’s joint motion to suspend proceedings in the appeal case, while they seek this indicative ruling from Judge Torres in order to finalize the settlement agreement.

Once Judge Torres agrees to grant the demands as requested, both parties will then ask the Court of Appeals for a limited remand for the purpose of seeking these reliefs from the District Court.

Upon a grant of this limited remand, the SEC and Ripple will then move to file motions and other necessary documents in the District Court which are necessary to request that the court grants the relief. Once the District Court enters these orders, both the SEC and Ripple will file to dismiss their appeal and cross-appeal, respectively, in the XRP lawsuit.

The post XRP Lawsuit: SEC Files Settlement Agreement Letter In Ripple Case appeared first on CoinGape.

Shiba Inu inflows have surged sharply, with data showing a 2,952% increase in large holder inflows. According to IntoTheBlock, inflows rose from 238.91 billion SHIB to 6.42 trillion SHIB on May 7. This indicates a sudden rise in buying activity from addresses classified as large holders.

Surge in Shiba Inu inflows Hints at Rally

According to the IntoTheBlock platform, whale addresses saw a major spike in inflows. These addresses typically represent institutional or high-net-worth investors. The increase in Shiba inu inflows entering these wallets often signals large-scale accumulation.

On May 8, the large holder netflow also rose from 132.54 billion SHIB to 6.21 trillion SHIB which is an increase of over 6,050%. Shiba inu inflows measure the difference between tokens entering and exiting whale wallets with a positive netflow suggesting whales are increasing their holdings.

This Shiba inu inflows shift follows a period of low activity during early May. Analysts often monitor these changes because whales usually accumulate after price pullbacks. They often transfer their purchases to cold storage, which reflects longer-term confidence.

Shiba Inu Price Action and Technical Levels

After staying near the daily Simple Moving Average (SMA) 50 for several days, the SHIB price has moved upward amid the increasing Shiba inu inflows. The price rose from $0.00001274 to an intraday high of $0.00001408 on May 8. As of the latest update, the SHIB price was trading around $0.00001400, an 11% surge from the intra-day high.

This increase came as the broader cryptocurrency market gained strength. Bitcoin price approached the $102,000 mark, leading to renewed interest across many assets. SHIB’s move has placed attention on its resistance near $0.000015.

Traders are also watching the SMA 200 at $0.00001265. If the price maintains above the SMA 50 and breaks past resistance, another upward move is possible. The SMA 50 may act as support in the short term if momentum holds.

Derivatives Market and Short-Term Trader Activity

Open interest in SHIB derivatives rose 20.72% to $182.67 million. Trading volume also increased by 81.79% to $167.61 million. These figures suggest growing participation from traders betting on price movements.

The number of short-term traders, those holding less than 30 days, increased by 6.66%. This could suggest renewed interest from new or active traders. Analysts often track these trends to anticipate volatility and potential price swings.

Traders entering during low volatility phases may push prices higher if momentum continues. If SHIB price maintains current levels, short-term traders may influence future rallies.

Community Activity and SHIB Burn Rate

Shibburn reported that over 15.8 million SHIB tokens were destroyed in the past 24 hours. This represented a 4,833.98% rise in the burn rate. Most of this was from a single transfer of 15.29 million tokens.

Token burning reduces the circulating supply. The SHIB team continues to promote its burn initiatives through the Shibarium layer-2 network. On Shibarium, each transaction uses BONE, and part of the fee is converted to SHIB and burned.

The Shiba Inu team shared that 30% of the gas fees are used to buy SHIB and send it to burn addresses. The circulating supply currently stands at over 589 trillion tokens. Burning remains a core strategy to manage token supply.

Market Sentiment and Community Statements

The Shiba Inu marketing lead Lucie, made a public statement about a possible 1,000% increase in three days. She clarified that this was a personal affirmation and not a forecast. “I told my boss, and my cat,” Lucie wrote, jokingly, on social media.

Though such a sharp increase seems unlikely in such a short time, the community responded with enthusiasm. The price would need to hit $0.000144628 for this claim to come true. At press time, SHIB remains below that level.

The community sentiment has grown more positive due to price increases and network activity. With higher whale interest, token burns, and rising open interest, SHIB is gaining more attention across the crypto market.

The post Shiba Inu Inflows Jump 2,952%, Is Bull Run Ahead? appeared first on CoinGape.

The post Coinbase To Acquire Deribit Exchange for $2.9B: Here is What it Means for Crypto Market appeared first on Coinpedia Fintech News

• The deal will be closed with $700 million in cash and 11 million in shares of Coinbase Class A common stock.

• The acquisition is subject to regulatory approval and is expected to close by the end of this year.

Coinbase Global, Inc. (NASDAQ: COIN), a veteran cryptocurrency exchange based in the United States, announced that it has agreed to acquire Deribit, a top-tier derivatives exchange. According to the announcement, Coinbase is acquiring Deribit for $2.9 billion, which will include $700 million in cash and 11 million in shares.

Meanwhile, Coinbase announced that the deal is subject to regulatory approval and other customary closing conditions. As a result, Coinbase expects the deal to be closed by the end of this year.

“As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market,” Luuk Strijers, CEO at Deribit, noted.

Coinbase Forges a Brighter Future for the Crypto Industry 

Once finalized, Coinbase will become a major player in crypto derivatives in regards to open interest (OI) and options volume. Furthermore, Deribit currently has more than $30 billion in OI and recorded over $1 trillion in trading volume in 2024.

With Coinbase available in more than 100 jurisdictions globally, more crypto traders can now seamlessly access the derivatives market in a regulated manner. Most importantly, more institutional investors from around the world can access the Bitcoin and altcoins OI market through their respective Coinbase accounts.

Consequently, Coinbase will significantly diversify its revenue streams amid heightened competition from other crypto exchanges including Binance and Bybit. Following the announcement, Coinbase shares COIN surged 6 percent on the day to trade about $208 on Thursday, May 8 during the mid North American trading session.

The post Coinbase To Acquire Deribit Exchange for $2.9B: Here is What it Means for Crypto Market appeared first on Coinpedia Fintech News
The deal will be closed with $700 million in cash and 11 million in shares of Coinbase Class A common stock. The acquisition is subject to regulatory approval and is expected to close by the end of this year. Coinbase Global, Inc. (NASDAQ: COIN), a veteran cryptocurrency exchange based in the United States, announced that …

The post Why is the Crypto Market Rising Today, May 8? appeared first on Coinpedia Fintech News

• Wall Street experts forecast bullish acceleration in May for the wider crypto market led by Bitcoin. 

• On-chain data shows whale investors are on a crypto shopping spree for heavily undervalued altcoins.

The total crypto market cap gained more than 4 percent in the last 24 hours to hover about $3.25 trillion on Thursday, May 8, during the late North American trading session. Bitcoin (BTC) price surged over 5 percent to reach a local high of about $101,784. 

The wider altcoin market recorded double percent digit gains in the past 24 hours, led by memecoins. Ethereum (ETH) price had surged over 15 percent in the past 24 hours to trade at about $2,070 at the time of this writing.

Major Forces Behind Today’s Crypto Market Surge

Short Squeeze Impact

In the past 24-hour, more than $626 million was liquidated from the wider crypto market, with the short traders amounting to over $536 million. As a result, the odds of a short squeeze significantly increased, amid notable greed and bullish sentiment.

Federal Reserve Monetary Policy

On Wednesday, the Federal Reserve held its lending rate at between 4.25 and 4.5 percent, as widely predicted by Wall Street economists. Notably, the rising stagflation risks, as highlighted by Fed Chair Jerome Powell, have compelled investors to seek alternative investments, with crypto assets emerging among the top.

Rising Demand from Institutional Investors 

On-chain data analysis for the last few days and weeks shows a strong demand for crypto assets by institutional investors. For instance, the U.S. spot BTC ETFs have recorded a net cash inflow of about $1.58 billion since the beginning of May, thus completing April’s $2.97 billion cash inflow.

More institutional investors – led by Strategy and Metaplanet – have been leveraging the global equity market to buy more Bitcoins and top-tier altcoins such as Solana (SOL) and Ethereum.

Geopolitical and Trade Developments 

The demand for altcoins and Bitcoin has continued to increase fueled by the global geopolitical tensions and ongoing trade war negotiations. Earlier on Thursday, the United States and the United Kingdom announced a strategic trade deal.

Meanwhile, tensions between Pakistan and India have pushed more investors to the Bitcoin market to hedge against short-term macroeconomic uncertainties.

Regulatory Catalysts 

As Coinpedia reported, two of the U.S. states – including New Hampshire and Arizona – have already approved respective legislation to establish strategic Bitcoin reserves. More states are expected to follow in the same direction in the near term and ultimately the federal government under the leadership of Donald Trump.

As a result, the demand for Bitcoin and the wider altcoin market has continued to grow, especially among institutional investors.

The post Why is the Crypto Market Rising Today, May 8? appeared first on Coinpedia Fintech News
Wall Street experts forecast bullish acceleration in May for the wider crypto market led by Bitcoin.  On-chain data shows whale investors are on a crypto shopping spree for heavily undervalued altcoins. The total crypto market cap gained more than 4 percent in the last 24 hours to hover about $3.25 trillion on Thursday, May 8, …