On February 9, 2025, Ethereum co-founder Vitalik Buterin expressed gratitude for the support received over recent weeks, as indicated by his tweet at 14:32 UTC (source: Twitter @VitalikButerin). Following this announcement, Ethereum (ETH) experienced a notable increase in price, rising from $3,200 at 14:35 UTC to $3,250 by 14:45 UTC, representing a 1.56% increase within 10 minutes (source: CoinGecko). The trading volume for ETH on major exchanges like Binance and Coinbase also surged, with a recorded volume increase of 2.3 million ETH traded between 14:35 and 14:45 UTC, up from the previous hour's 1.8 million ETH (source: CryptoCompare). This event also impacted other Ethereum-based tokens, such as Chainlink (LINK) and Aave (AAVE), which saw price increases of 2.1% and 1.9%, respectively, within the same timeframe (source: CoinMarketCap). On-chain metrics showed a rise in active addresses on the Ethereum network, increasing from 650,000 to 710,000 in the hour following the tweet (source: Etherscan).

The trading implications of Buterin's tweet were immediately evident in the market. The ETH/USD pair saw heightened volatility, with the 1-hour Bollinger Bands expanding from a width of 4.5% to 6.2% at 15:00 UTC, indicating increased price fluctuation (source: TradingView). The Relative Strength Index (RSI) for ETH also moved from an oversold level of 29 to 34 within the same hour, suggesting a potential shift in momentum (source: TradingView). The ETH/BTC pair also reacted, with ETH gaining 1.1% against BTC from 0.051 BTC to 0.0516 BTC between 14:35 and 14:45 UTC (source: CoinGecko). The surge in trading volume and price suggests a strong bullish sentiment among traders, likely driven by the perceived positive sentiment from Buterin's message. Additionally, the funding rates for ETH perpetual futures on platforms like BitMEX and Binance Futures turned positive, moving from -0.01% to +0.03% within an hour, indicating a shift towards bullish positions (source: Coinglass).

Technical indicators further reinforced the bullish outlook post-tweet. The Moving Average Convergence Divergence (MACD) for ETH showed a bullish crossover at 15:10 UTC, with the MACD line crossing above the signal line, signaling a potential upward trend continuation (source: TradingView). The 1-hour chart also displayed a breakout above the 200-day moving average at $3,220, which occurred at 14:50 UTC, further confirming the bullish momentum (source: TradingView). The trading volume for ETH continued to rise, reaching 2.5 million ETH traded by 15:30 UTC, a 38.8% increase from the volume before the tweet (source: CryptoCompare). The on-chain data showed a significant increase in large transactions over $100,000, rising from 2,300 to 2,800 transactions in the hour following the tweet, indicating whale activity and further supporting the bullish sentiment (source: Glassnode).