XRP Slides 4% After Failing to Break $2.33 Resistance Level Thrice
Ether Roars Past $2,700; Popular Trader Declares ‘Beast Mode’
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Siamak Masnavi
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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Updated Jun 10, 2025, 7:34 p.m. Published Jun 10, 2025, 7:14 p.m.
- ETH jumped 6.54% to $2,744.87, reclaiming the $2,700 level on 560,000-coin volume.
- Analysts from QCP Capital foresee macro tailwinds priming ether for structural upside to $4,000 and beyond.
- Industry figures like Joseph Lubin hail Ethereum as a global settlement and tokenization layer with $25 trillion settled last year.
Ether (ETH)
began the 24-hour session around $2,576 in early Asian trading, briefly dipped to $2,562 on light volume, then saw buying interest surge around 21:00 UTC on June 9 as turnover topped 436,000 coins, according to CoinDesk Research’s technical analysis model.
A second wave of demand just before 11:00 UTC on June 10 drove ether through the $2,700 barrier to a 24-hour high of $2,783; by press time it was trading at $2,744.87, up 6.54 percent on 560,900 coins (US$1.51 billion) moved.
STORY CONTINUES BELOW
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Social sentiment has turned decidedly bullish. A popular trader on X said the move amounted to ether entering a true “beast mode” phase after brushing aside $1,500 and $2,200 barriers and forecast further upside toward $4,000 and beyond.
In an X thread on June 3, Consensys founder Joseph Lubin portrayed Etheruem as a nonstop settlement layer that processed over $25 trillion in transactions last year and serves as the backbone for stablecoins, tokenized assets, native yield and DeFi. He added that a $425 million private placement into SharpLink Gaming (SBET) aims to expose traditional investors to those yield opportunities.
Meanwhile, in a market note, QCP Capital pointed to the advancing GENIUS Act, renewed buzz around Circle’s IPO and increasing regulatory clarity for stablecoins as converging tailwinds that could drive outsized structural gains for Ether’s tokenization and settlement rails.
On-chain fundamentals also bolster the bullish case: staked ether recently reached a record 34.65 million tokens — locking up roughly 28.7 percent of supply — and may tighten bids around current support near $2,720.
Technical Analysis Highlights
- Ether staged two volume-backed breakouts: first above $2,600 on June 9 (436K ETH traded), then above $2,700 on June 10 (560.9K ETH).
- A clear series of higher lows and higher highs underpins a strong uptrend from $2,562 to $2,783.
- A high-volume supply zone now sits at $2,796, marking near-term resistance.
- A double-bottom formed between $2,720–$2,740 may support consolidation before the next leg higher.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
