The post Traders Hold $20.8B as Vitalik Buterin Plan to Fix Ethereum in 5 Years appeared on BitcoinEthereumNews.com.

Ethereum price remains steady around $1,837 as Vitalik Buterin’s new proposal fuels optimism for Ethereum’s long-term simplification. Ethereum (ETH) Deadlocked Below $1,900 as Market Recovery Stalls Ethereum price is currently consolidating at $1,837, down slightly from its recent 24-hour high of $1,847, according to CoinGecko. Despite a 1.7% uptick on the weekly chart and a monthly gain of 2.8%, ETH has struggled to break above the critical $1,900 level. The broader crypto market has also entered a temporary pullback phase after a high-profile event in the U.S. state of Arizona. On Saturday, Arizona Governor Katie Hobbs vetoed a key piece of legislation that would have allowed the state to hold Bitcoin in its strategic reserves, a bill that had already passed the legislature. Ethereum price action, May 3, 2025 | Source: Coingecko The political setback triggered a short-term confidence dip, stalling Bitcoin’s rally and dragging Ethereum down with it. As Bitcoin price retraced from $98,000 to $96,200, Ethereum mirrored the move, slipping into a modest correction. Despite reduced weekend trading volumes, Ethereum is still showing signs of active buying pressure, supported by short-term traders’ confidence. Ethereum derivatives data show that Open Interest stands at $20.87 billion (-0.57%) while total trading volume dropped 29.8% to $28 billion. Ethereum Derivatives data analysis, May 3, 2025 | Coinglass The ETH futures trading volume decline being larger than the Open interest dip on Saturday indicates that majority of investors are abstaining rather than close out their ETH positions. Bulls Hold Tight After Vitalik’s Latest Update In a move that could reshape Ethereum’s future, Vitalik Buterin has published a new five-year roadmap titled “Simplifying the L1.” The proposal outlines a path to radically reduce Ethereum’s base-layer complexity, aligning it more closely with Bitcoin’s minimalist architecture. According to Buterin, Ethereum’s core protocol has become bloated with…

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Filed under: News - @ May 3, 2025 8:28 pm