{"id":4363,"date":"2025-02-18T06:53:29","date_gmt":"2025-02-18T08:53:29","guid":{"rendered":"https:\/\/criptonizando.com\/en\/?p=4363"},"modified":"2025-02-18T06:53:30","modified_gmt":"2025-02-18T08:53:30","slug":"ethereum-price-rallies-to-two-week-high-above-2-8k-but-is-it-a-pump-and-dump","status":"publish","type":"post","link":"https:\/\/criptonizando.com\/en\/news\/ethereum-price-rallies-to-two-week-high-above-2-8k-but-is-it-a-pump-and-dump\/","title":{"rendered":"Ethereum Price Rallies to Two-Week High Above $2.8K \u2014 But Is It a Pump-and-Dump?"},"content":{"rendered":"\n<p>Ethereum (ETH) surged to a two-week high of <a href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">$2,850 on Feb. 17<\/a>, posting a 7% intraday gain. The rally was triggered by a sharp rise in Ethereum network transaction fees, which jumped from $0.70 to $70 for a single swap. This spike initially fueled investor optimism, but the excitement quickly faded as fees returned to normal levels. ETH lost $100 within an hour, reducing its 24-hour gains to less than 2%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Memecoin Frenzy Behind the Surge<\/strong><\/h2>\n\n\n\n<p>The sudden spike in transaction activity was linked to the launch of a relatively unknown project. Addresses associated with the \u201cWall Street Pepe\u201d token were responsible for over 25% of Ethereum\u2019s transaction fees within a three-hour window, according to Etherscan data. The frenzy centered around the launch of \u201cPepu Pump Pad,\u201d a memecoin launchpad built on an Ethereum layer-2 chain.\u00a0<\/p>\n\n\n\n<p>Despite the temporary rally, Ether futures markets reflected weak sentiment. The ETH monthly futures basis rate, which measures derivatives traders\u2019 confidence, remained steady at 6% on Feb. 17. Typically, ETH monthly futures trade at a 5% to 10% premium over spot markets. The lack of a sharp increase suggests professional traders were not overly excited about the rally.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ethereum ETFs Show Low Interest<\/strong>\u00a0as <strong>Retail Traders Remain Cautious<\/strong>\u00a0<\/h2>\n\n\n\n<p>Eastern Europe and the CIS region received a net inflow of approximately USD 2.5 million between Feb. 5 and Feb. 14, while US-based Ethereum ETF\u2019s inflow was USD 2 million. On February 17, CoinGlass tracked Ethereum\u2019s ETFs having executed 84% less volume than Bitcoin ETFs. This shows how indifferent institutional investors were to the price movement.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Find out more info about\u00a0<a href=\"https:\/\/criptonizando.com\/en\/learn\/binance-referral-id\/\" target=\"_blank\" rel=\"noreferrer noopener\">Binance Referral ID<\/a><\/li>\n<\/ul>\n\n\n\n<p>Moreover, retail traders did not appear particularly thrilled for the ETH price action either. The perpetual funding rate, which is the cost of maintaining a leveraged position, remained orthopedic. When traders are optimistic, this figure usually exceeds 0.20% over an 8-hour period. However, the lack of anything beyond ordinary enthusiasm on Feb. 17 did provide some signs of optimism for perpetual contracts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Future Outlook: Ethereum Upgrades and Competition<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Though this activity was rather short in duration, Ethereum should take heart from the changes that are in the pipeline. The \u201cPectra\u201d upgrade, which is keenly awaited, is set to enhance the blob storage limit for rollups, allowing layer 2 transactions to be processed at lower costs and at a faster speed. \u201cGasless\u201d transactions, which do not need the initiator to spend gas, and are sponsored by third parties, also stand to increase the adoption of cryptocurrencies significantly.&nbsp;<\/p>\n\n\n\n<p>On the other hand, the competition is intensifying in the <a href=\"https:\/\/criptonizando.com\/en\/news\/blockchain-bandit-returns-172-million-in-stolen-eth-consolidated\/\" target=\"_blank\" rel=\"noreferrer noopener\">blockchain<\/a> world. Some of the most notable independent blockchain projects such as Hyperliquid have shown success, raising the question of whether Ethereum will retain its throne. For Ethereum\u2019s price action, short term volatility continues to hold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) surged to a two-week high of $2,850 on Feb. 17, posting a 7% intraday gain. The rally was triggered by a sharp rise in Ethereum network transaction fees, which jumped from $0.70 to $70 for a single swap. This spike initially fueled investor optimism, but the excitement quickly faded as fees returned to [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":4146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tpgb_global_settings":"","kia_subtitle":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-4363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Price Rallies to Two-Week High Above $2.8K \u2014 But Is It a Pump-and-Dump? - Criptonizando<\/title>\n<meta name=\"description\" content=\"Ethereum surged to $2,850 amid soaring transaction fees, but gains faded as fees normalized, dropping ETH by $100 within an hour\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/criptonizando.com\/en\/news\/ethereum-price-rallies-to-two-week-high-above-2-8k-but-is-it-a-pump-and-dump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Rallies to Two-Week High Above $2.8K \u2014 But Is It a Pump-and-Dump? 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