Ethereum rises beyond $2,800 nearing 10-year anniversary

Ethereum surges past the $2,800 mark on July 10, ahead of the project’s ten-year anniversary. So far, the token has jumped by more than 6.4%.

According to data from crypto.news, the token’s value reached a peak at $2,816 on July 10 at around 7:16 AM UTC. The last time Ethereum (ETH) reached above $2,800 was back in mid-June before it fell into slump and never managed to climb back up until now.

However, the token only peaked briefly before experiencing a slight correction and settling back down to the $2,790 mark. At press time, the token is currently trading hands at $2,791, having jumped by 6.34% in the past 24 hours.

Its market cap also enjoyed a boost fueled by its recent price surge, going up by 6.37%. The second largest cryptocurrency now boasts a market cap of $336.9 billion.

Not only that, the daily trading volume for ETH also experienced a jump compared to the previous day. According to data from CoinGecko, the daily trading volume for ETH has seen a 86.4% increase to $30.9 billion. This indicates a significant rise in recent market activity.

Through the past week, the token has gone up 7.3%. Meanwhile in the past month, ETH has experienced modest gains of 4.3%.

Ethereum Foundation moves $2.7m to internal wallet, anniversary gift?

According to on-chain data from PeckShieldAlert, the Ethereum Foundation recently transferred a chunk of 1,000 ETH worth approximately $2.7 million by current market prices to an internal address. The transfer occurred at around 6:00 AM UTC on July 10.

At the moment, the internally-linked address holds as much as 14,000 ETH or nearly $40 million in value.

Earlier in June, the Ethereum Foundation announced that it would be implementing a new treasury policy designed to ensure long-term sustainability while supporting the ecosystem’s continued growth.

Although EF has historically relied on holding its own ETH, the new strategy would see the foundation executing more regular ETH sales to maintain a fiat reserve and expanding its staking and DeFi deployments.

On July 30, 2015, Ethereum made its debut in the crypto space by launching its first decentralized blockchain. Officially named Frontier at the time, it became the project’s first live mainnet which included Genesis block mining.

Since that first launch, Ethereum has evolved through many upgrades and innovations, with its latest Pectra upgrade going live recently on May 7, 2025.