Ethereum Surpasses $2,800 Mark
On July 10, Ethereum marked a significant milestone by surpassing the $2,800 threshold, celebrating its upcoming ten-year anniversary. The cryptocurrency surged over 6.4%, reaching a high of $2,816 around 7:16 AM UTC. This surge is notable as it is the first time Ethereum (ETH) has crossed the $2,800 mark since mid-June, when a subsequent downturn had hindered its recovery until now. Although the price enjoyed a brief peak, it corrected slightly and stabilized around $2,790 before trading at $2,791, reflecting a 6.34% increase within the previous 24 hours.
Market Capitalization and Trading Volume
Accompanying this price rally, Ethereum’s market capitalization saw a rise of 6.37%, reaching approximately $336.9 billion. The uptick in activity was further evidenced by a remarkable 86.4% jump in daily trading volume, which soared to $30.9 billion, according to CoinGecko. Over the past week, ETH has gained about 7.3%, with a modest monthly increase of 4.3%.
Ethereum Foundation’s Recent Transfer
In a related development, the Ethereum Foundation executed a transfer of 1,000 ETH, valued at roughly $2.7 million at current prices, to an internal address around 6:00 AM UTC on July 10. This address now holds 14,000 ETH, valued at nearly $40 million. This transfer follows the Foundation’s recent announcement in June regarding a new treasury policy aimed at ensuring long-term sustainability and facilitating growth within the ecosystem.
Historical Context
Historically, the Foundation has maintained a reserve of ETH, but plans are in motion for more frequent sales to bolster its fiat reserves and expand staking and DeFi ventures.
Ethereum’s journey began on July 30, 2015, with the launch of its first decentralized blockchain, known as Frontier, marking the introduction of its mainnet. Since that momentous introduction, Ethereum has undergone numerous upgrades and innovations, with one of the latest, the Pectra upgrade, having gone live on May 7, 2025.
