Price Analysis

ETH Traders Hold $20.8 Billion Positions as Vitalik Buterin Plans to Fix Ethereum in 5 Years

Ethereum price remains steady around $1,837, showing resilience despite political drag and weekend volume dips, while Vitalik’s proposal fuels optimism.
Published by
ETH Traders Hold $20.8 Billion Positions as Vitalik Buterin Plans to Fix Ethereum in 5 Years

Highlights

  • Ethereum price is consolidating near $1,837 as it struggles to break above $1,900 amid broader market hesitation.
  • Vitalik Buterin proposes codebase simplification, aiming to boost Ethereum’s security and scalability long term.
  • Weekend drop in ETH futures volume suggests most traders are waiting, not exiting, despite external market pressures.

Ethereum price remains steady around $1,837 as Vitalik Buterin’s new proposal fuels optimism for Ethereum’s long-term simplification.

Advertisement

Ethereum (ETH) Deadlocked Below $1,900 as Market Recovery Stalls

Ethereum price is currently consolidating at $1,837, down slightly from its recent 24-hour high of $1,847, according to CoinGecko. Despite a 1.7% uptick on the weekly chart and a monthly gain of 2.8%, ETH has struggled to break above the critical $1,900 level.

The broader crypto market has also entered a temporary pullback phase after a high-profile event in the U.S. state of Arizona.

On Saturday, Arizona Governor Katie Hobbs vetoed a key piece of legislation that would have allowed the state to hold Bitcoin in its strategic reserves, a bill that had already passed the legislature.

Ethereum price action, May 3, 2025 | Source: Coingecko

The political setback triggered a short-term confidence dip, stalling Bitcoin’s rally and dragging Ethereum down with it. As Bitcoin price retraced from $98,000 to $96,200, Ethereum mirrored the move, slipping into a modest correction.

Despite reduced weekend trading volumes, Ethereum is still showing signs of active buying pressure, supported by short-term traders’ confidence.

Ethereum derivatives data show that Open Interest stands at $20.87 billion (-0.57%) while total trading volume dropped 29.8% to $28 billion.

Ethereum Derivatives data analysis, May 3, 2025 | Coinglass

The ETH futures trading volume decline being larger than the Open interest dip on Saturday indicates that majority of investors are abstaining rather than close out their ETH positions.

Advertisement

Bulls Hold Tight After Vitalik’s Latest Update

In a move that could reshape Ethereum’s future, Vitalik Buterin has published a new five-year roadmap titled “Simplifying the L1.” The proposal outlines a path to radically reduce Ethereum’s base-layer complexity, aligning it more closely with Bitcoin’s minimalist architecture.

According to Buterin, Ethereum’s core protocol has become bloated with over 300,000 lines of code, compared to Bitcoin’s 15,000.

Vitalik Buterin issues new proposal to enhance Ethereum scalability, May 3, 2025

While this expansion enabled a wide range of dApps and smart contracts, it has also introduced severe security and maintainability concerns.

The infamous DAO hack of 2016, where $50 million in ETH was drained, serves as a stark reminder of such vulnerabilities.

To address this, Buterin suggests implementing a maximum code line limit for Ethereum’s core. This change would reduce the surface area for attacks, make audits simpler, and improve overall protocol resilience.

“Simplicity, like decentralization, is upstream of resilience,” Vitalik Buterin wrote, urging the community to take the long-term view.

While the ETH price may not react immediately to these structural changes, market sentiment around Ethereum’s long-term viability has visibly improved.

The long/short ratio on Binance ETH/USDT shows 2.52:1 for top traders’ accounts, a bullish indicator that suggests whales are already predominantly betting on Ethereum price upside for the coming sessions.

Advertisement

Ethereum Price Forecast: ETH Eyes $1,950 as Compression Builds Near Key Resistance

Ethereum price forecast today reflects a market steadily coiling beneath resistance at $1,873.17, with technical signals aligning for a potential breakout toward $1,950. Price action has maintained higher lows through late April into early May, revealing steady accumulation under resistance.

The Donchian Channel indicator also shows ETH price pressing its upper boundary, a classic setup for a volatility expansion.

Ethereum Price Forecast

Despite the mild pullback to $1,835.30 on Saturday, Ethereum bullish momentum remains intact, and the mid-channel support at $1,705.22 stands as the nearest downside checkpoint.

The Choppiness Index reading at 47.86 confirms a sideways, coiling price structure—neither fully directional nor overly consolidated.

Should Ethereum close decisively above the $1,873 ceiling with elevated volume, momentum would likely carry ETH toward $1,950 in the near term.

In contrast, a breakdown below $1,800 would weaken bullish conviction and expose $1,705.22 as a possible retracement zone.

Frequently Asked Questions

Why is Ethereum price consolidating below $1,900?

Ethereum is consolidating due to low weekend trading volume and broader market uncertainty after political setbacks in the U.S

What impact does Vitalik Buterin’s new roadmap have on Ethereum?

Buterin’s proposal to simplify Ethereum’s base layer boosts long-term confidence by prioritizing scalability, security, and protocol resilience.

Are traders still bullish on Ethereum despite recent pullbacks?

Yes. Binance long/short ratio at 2.52:1 shows top traders are positioning for Ethereum price upside in upcoming sessions.
Share
ibrahim

Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?

The Solana price has held steady, currently trading at around $202 at press time. Recent…

September 6, 2025
  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025