Ethereum Bulls Target $2,750 as Smart Money Quietly Loads Up

• Ethereum’s accumulation trend may trigger a breakout above $2,750 resistance.
• Buterin warns that digital ID systems could centralize Web3 identity.

Ethereum is holding steady at nearly $2,932 after bouncing from recent lows, as market watchers eye a critical price threshold. Crypto analyst CryptoTony noted that Ethereum must reclaim the $2,750 mark on the weekly chart to confirm a bullish breakout. 

ETH is testing mid-range resistance after rebounding from support at nearly $2,000. A close above $2,750 could clear the way for a retest of the $3,500 zone last seen in early 2024.

The price structure shows three horizontal levels, with $2,750 acting as the upper resistance barrier. If Ethereum fails to reclaim this level, it may remain range-bound or face a possible retracement. 

On-Chain Data Shows Accumulation at Yearly High

CryptoQuant’s recent data reveals that Ethereum is undergoing its strongest accumulation phase in over a year. The report shows increased inflows into accumulator wallet addresses that buy and hold ETH without selling. This accumulation trend typically precedes bullish price moves by reducing the liquid supply available on the market.

ETH is currently trading between $2,400 and $2,900, but analysts believe this quiet accumulation could signal upcoming upward pressure.

Rising institutional interest, particularly around Ethereum ETFs, and robust activity in DeFi and Layer 2 ecosystems support this outlook. Accumulator behavior suggests that long-term holders are positioning in anticipation of a potential price breakout.

Buterin Questions Digital ID’s Impact on Web3 Privacy

CoinCryptoNewz recently reported that Ethereum co-founder Vitalik Buterin has voiced concerns regarding the World Digital ID initiative. He warned that the system’s one-ID-per-person model may threaten online pseudonymity, a core value of the Web3 space. 

Though the system uses zero-knowledge proofs, Buterin argued that tying all activity to one identity introduces centralization and surveillance risks.

The World ID project, led by Sam Altman and linked to Worldcoin, uses biometric tools like the Orb Mini to authenticate users. Buterin suggested an alternative model based on decentralized identity systems such as Circles, which prioritize user choice and reduce systemic risks. His remarks emphasize the ongoing debate around identity, privacy, and control in decentralized networks.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.