Ethereum to Bring Gas Cap, Whale Activity Signals $3,500
July 7, 2025
Key Notes
- Vitalik proposes EIP-7983 to cap gas per transaction for stability and future tech.
- Whale withdraws 1,900 ETH from Binance to stake, suggesting long-term confidence.
- ETH targets $2,800 short-term with analysts projecting $3,500 in the coming weeks.
.
ETH
$2 572
24h volatility:
2.5%
Market cap:
$310.34 B
Vol. 24h:
$12.40 B
has started the week on a strong note, bouncing back from its weekend dip and briefly crossing $2,600 earlier on Monday. At the time of writing, ETH is trading around $2,585, up by 2.8% in the last 24 hours.
ETH’s 24-hour trading volume has surged by 70% to $15.14 billion, reflecting renewed interest in the market.
The rise comes amid ecosystem optimism as Ethereum co-founder Vitalik Buterin announced a new proposal, EIP-7983, during the Ethereum Community Conference.
The proposal would enforce a protocol-level gas cap on individual transactions. It aims to enhance Ethereum’s long-term stability, security, and compatibility with emerging technologies.
Related article: Ethereum Price Prediction – Wall Street Gearing Up for Explosive Q3: ETH Could Be the Next $10,000 Play
Vitalik explained that Ethereum and the crypto space need “practical, user-centered safeguards” as they move toward mass adoption.
A protocol-level gas cap would protect users from spikes in transaction fees while ensuring Ethereum remains accessible and decentralized.
Whale Movements Signal Confidence
On-chain data from The Data Nerd shows that whale address 0x1fc withdrew 1,900 ETH, worth around $4.86 million, from Binance to stake.
The exchange exit move suggests a notable accumulation trend, indicating whales are preparing for a bullish leg. Interestingly, the whale currently holds a total of 6,989 ETH at an average entry of around $2,507.
Ether price has been following a Wyckoff accumulation pattern since early June, with a local top near $2,900 and a capitulation below $2,100.
Popular crypto analyst Cas Abbe noted that if ETH manages a daily close above $2,800, it could reach $3,500 within weeks.
ETH Price to Surge?
On the daily ETH price chart, the RSI is suggesting neutral-to-bullish momentum with room to move before hitting overbought levels.
ETH price chart with RSI and Bollinger Bands | Source: Trading View
Bollinger Bands are tightening near $2,580, hinting at an impending breakout. The upper band around $2,645 acts as a resistance with a near-term target of $2,900–$3,000. However, traders should eye the lower band, with $2,300 support acting as a strong buy zone.
Meanwhile, the MACD shows a fresh bullish crossover, with the MACD line moving above the signal line. Though flat, the green histograms suggest growing market growth.
ETH price chart with MACD | Source: Trading View
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Search
RECENT PRESS RELEASES
Related Post
