For almost two months now, the price of ETH (Ethereum) doesn’t seem to be able to break away from the $2,400 zone.

The thing is partly surprising because it turns out that more and more companies are adding Ethereum to Bitcoin in their reserves.

The 2,400$ is an important threshold for the price of Ethereum.

In fact, it is precisely from there that the Trump trade began in November of last year, thanks to which ETH managed to return to $4,000.

The problem, however, came later, especially since Trump announced he hadlaunched his memecoin on Solana.

It must be said that in the past the memecoin market was mainly based on the Ethereum blockchain, but starting from the end of 2023, more and more memecoin on Solana have emerged.

Among other things, $2,400 was also the maximum level reached at the beginning of 2024 by the price of ETH thanks to the rebound at the end of 2023, but then, starting in February, a mini-bubble inflated it well above $4,000.

In other words, in the last two years, starting precisely from $2,400, two mini-bubbles on the price of Ethereum have inflated, but while the first once burst brought the price of ETH only to $2,300, the second brought it even below $1,600 in April of this year. 

It is evident that 2025 was a problematic year for Ethereum, most likely due to the fact that the memecoin market almost definitively shifted to Solana. It should not be forgotten that it was precisely the memecoins during the previous major bull run (the one in 2021) that greatly favored the rise in Ethereum’s price. 

This situation leads some to argue that the price of ETH is experiencing a moment of weakness. 

In reality, as long as it manages to hold the $2,400 level, it is perfectly in line with the price level following the 2023 rebound. Of course, many expected more, but with the memecoin market no longer present, there isn’t much more to expect in the short to medium term. 

For example, the price of Solana after the rebound at the end of 2023 had risen to about $100, but now it is at $150. Additionally, in January, precisely in conjunction with the announcement of the launch of Trump’s memecoin, it marked new all-time highs at nearly $300.

Subsequently, when the mini-bolla del Trump trade burst, the price of SOL returned to $120, a level still well above the $100 at the beginning of 2024.

Instead, the price of Ethereum this year has even dropped to the levels of late 2023 before the rebound, and subsequently, it barely managed to return to the levels prior to the last mini-bubble. On the other hand, the current price of Solana is roughly at the levels prior to the Trump trade. 

All this seems, however, to clash with the fact that more and more companies are adding ETH to their reserves in addition to BTC.

On the website StrategicETHReserve.xyz you can monitor the list of well-known companies that have Ethereum in their portfolio.

Since the site began monitoring this data in March, the number of ETH that have been collectively put into reserve is over 1.2 million, equivalent to nearly three billion dollars. 

However, these figures are still very limited, compared to, for example, the 16 billion dollars of ETH traded on the bull and bear crypto markets in a single day. 

Therefore, the two things are only apparently in contrast, because in reality the process of purchasing and withdrawing ETH from the market by companies is still so limited in scale that it cannot have any real impact on the price of Ethereum.

Among other things, on BitcoinTreasuries.net you can monitor the number of BTC accumulated by companies, and the publicly traded companies alone hold in their portfolios almost 850,000 Bitcoin, equivalent to over 90 billion dollars. The daily trading volume of BTC on exchanges is 47 billion dollars, so the difference with ETH for now is still vast from this point of view.