Ethereum’s price fell below $3,000 to around $2,700 on January 31, 2026, marking a six-month low amid market volatility. On-chain activity surged to a record 2.78 million daily transactions, and transaction fees dropped to multi-year lows, boosting smart contract deployments. Describe co-founder Vitalik Buterin’s withdrawal of 16,384 ETH to fund development, emphasizing long-term sustainability and focused blockchain use cases.
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has been making headlines for both its recent price volatility and the ambitious plans of its development team. Despite its price slipping below $3,000 in late January 2026, long-term traders and crypto enthusiasts remain bullish, with some predicting a path to $10,000 for the digital asset. On January 31, 2026, Ethereum’s price hovered around $2,690 to $2,710, marking a six-month low and standing significantly below its October 2025 peak of nearly $4,831, according to FXStreet.
This drop has rattled some market participants, but seasoned traders see it as a technical reset rather than a sign of weakness. “Ethereum’s inability to hold the $3,000 level isn’t a concern for long-term traders and investors,” reported AMBCrypto, highlighting the coin’s strong fundamentals and bullish technical indicators. Several factors underpin the optimism surrounding Ethereum.
Technical analysts point to Wyckoff-style accumulation patterns, cycle-based upswings, and liquidity correlations as signals that the current downturn could be a prelude to a significant rally. If these align, some believe Ethereum could more than triple in value, potentially reaching the much-anticipated $10,000 mark. Such a move would represent a 2x or 3x return from its all-time high of $4,946.05—a substantial gain, though perhaps modest compared to the explosive growth of earlier years.
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