Peter Brandt published a technical analysis of Ethereum, in which he suggested that the price could move towards $8,674 in the long term. The scenario is based on a breakout of $5,000 and the structure of the futures chart. Brandt noted that the description of the scenario does not mean that a deal has been concluded. At the same time, Glassnode recorded a change in market activity: the indicator of alternating periods of Bitcoin and altcoin dominance has changed direction in favor of the latter. In August, activity was mainly concentrated around Bitcoin, and then it became more noticeable in the altcoin segment.
Lookonchain also reported on the redistribution of funds between major crypto assets. One market participant exchanged 200.71 BTC for 6,247 ETH, and over the course of six days, the same player exchanged a total of 1,308 BTC, or about $104 million, for 40,670 ETH. The coins were sent to staking. Meanwhile, in the Ethereum ecosystem, technological challenges for the coming years are being discussed. Vitalik Buterin listed among the priorities improving privacy, scaling the network, and preparing the first layer for possible quantum attacks by 2029. Among the future updates are Glamsterdam and Hegota. Buterin also disagreed with the thesis about the inevitable weakening of cryptocurrency cybersecurity due to AI, pointing out the possibility of using artificial intelligence to strengthen protection. According to his assessment, AI is more likely to help cybersecurity than to undermine it.
At the time of publication, Ethereum was trading at around $2731, gaining approximately 6% over the past 24 hours after moving within the range of $2646–$2804. The daily trading volume increased by about 80%, and the monthly dynamics reached almost 50%. According to CoinGlass, in the derivatives market, the open interest in ETH futures increased by about 1%, reaching $36 billion. On CME, the figure rose by more than 8%, while on Binance it decreased by 0.56%. These data reflect market activity but do not confirm a specific price change scenario. Brandt’s forecast of up to $8,674 remains his assessment based on technical analysis, and volume and derivatives indicators provide additional context for market assessment.
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