Ethereum co-founder Vitalik Buterin signalled the potential for accelerated hard fork upgrades following the Spectra upgrade on 7 May 2025. Reduced supply of ETH on exchanges indicates bullish potential, while the asset is forming a V-shaped recovery pattern. Increased whale accumulation suggests optimism regarding future prices, despite competition from Solana.
Ethereum Analysis: Upgrade Acceleration and Market Dynamics
On 15 April, Ethereum co-founder Vitalik Buterin indicated potential for quicker hard fork upgrades following the anticipated Spectra upgrade on 7 May 2025. His observations, made via X, reflect a trend towards more rapid development, as he noted minimal resistance to faster changes post-Spectra. The Spectra upgrade is set to enhance account abstraction, increase staking limits, and improve rollup capacity.
Following Spectra, the Glamsterdam upgrade will further focus on gas limit increases and scalability improvements, with universal consensus among researchers on prioritising these features. Buterin remarked on the possibility of advancements occurring sooner than expected, indicating a proactive approach to the Ethereum roadmap amidst intensified competition from alternatives like Solana.
The current market conditions highlight a significant reduction in ETH supplies on exchanges, dropping to a nine-year low of 18.3 million ETH, according to CryptoQuant. This trend, coupled with increased crypto whale activity, suggests long-term holders are accumulating ETH in anticipation of a price rebound.
Additionally, Ether has been forming a V-shaped recovery pattern since 25 March. This bullish signal indicates a sharp price increase following a downturn. For ETH to achieve its target of $2,100, surpassing the current resistance zone between $1,800 and $1,937 is crucial. A failure to maintain above the $1,500 support could lead to a dip towards lower thresholds.
This analysis suggests that both the Ethereum upgrade trajectory and market supply dynamics are pivotal to Ether’s performance, especially in light of current user growth challenges and competitive pressures.
