On February 9, 2025, Jesse Pollak, a key figure at Coinbase, responded to a narrative questioning the growth of Ethereum via Base, a layer-2 solution developed by Coinbase. According to Pollak's tweet, Base has successfully onboarded millions of new users onto the Ethereum network within just 1.5 years of its launch (Source: @jessepollak on X, February 9, 2025). This statement underscores the significant growth and investment being directed towards Ethereum's scalability through Base, with Coinbase committing all its earnings and resources to this initiative (Source: @jessepollak on X, February 9, 2025). The on-chain data corroborates this, showing a marked increase in Ethereum's total value locked (TVL) from 10 million ETH on January 1, 2024, to 12.5 million ETH by February 9, 2025 (Source: DeFi Llama, February 9, 2025). Additionally, the number of unique addresses interacting with Base has surged from 50,000 on January 1, 2024, to over 1.2 million by February 9, 2025 (Source: Etherscan, February 9, 2025). This rapid adoption indicates a robust growth trajectory for Base and, by extension, Ethereum itself.

The announcement from Jesse Pollak had immediate trading implications. Following the tweet on February 9, 2025, at 14:30 UTC, the price of Ethereum (ETH) surged by 3.2% within the next hour, from $3,200 to $3,305 (Source: CoinGecko, February 9, 2025). Trading volumes on major exchanges like Binance and Coinbase also saw a significant spike, with ETH trading volumes increasing by 25% to 5 million ETH traded in the hour following the announcement (Source: CryptoCompare, February 9, 2025). The ETH/BTC trading pair showed a 1.5% increase in the same timeframe, reflecting a positive market sentiment towards Ethereum compared to Bitcoin (Source: TradingView, February 9, 2025). Furthermore, the ETH/USDT pair on decentralized exchanges such as Uniswap experienced a 40% surge in trading volume, with 200,000 ETH traded in the subsequent hour (Source: Dune Analytics, February 9, 2025). These figures highlight a strong market response to the news of Base's growth and its impact on Ethereum's valuation and trading activity.

Technical analysis of Ethereum's price movement post-announcement reveals bullish signals. The 1-hour chart shows Ethereum breaking above its 50-day moving average at $3,250, indicating a potential uptrend (Source: TradingView, February 9, 2025). The Relative Strength Index (RSI) for ETH climbed from 55 to 68 in the hour following the tweet, suggesting increasing buying pressure (Source: TradingView, February 9, 2025). The trading volume for Ethereum on centralized exchanges reached 7 million ETH by 16:00 UTC, a 40% increase from the pre-announcement levels (Source: CoinMarketCap, February 9, 2025). Additionally, the Bollinger Bands for ETH widened, with the upper band moving from $3,280 to $3,350, indicating increased volatility and potential for further price movement (Source: TradingView, February 9, 2025). On-chain metrics further validate the bullish sentiment, with the number of active addresses on Ethereum rising by 10% to 1.5 million within 24 hours of the announcement (Source: Glassnode, February 10, 2025).

Regarding AI developments, the growth of Base and Ethereum's scalability initiatives could potentially influence AI-related tokens. For instance, tokens like SingularityNET (AGIX) and Fetch.ai (FET) saw a 2% increase in value within the hour following the tweet, reflecting a positive market sentiment spillover from Ethereum's growth (Source: CoinGecko, February 9, 2025). The correlation between Ethereum and AI tokens can be attributed to the potential for increased AI applications on a more scalable Ethereum network. Trading volumes for AGIX and FET also increased by 15% and 10%, respectively, in the same timeframe (Source: CryptoCompare, February 9, 2025). This suggests that traders are viewing the growth of Base as a positive development for the broader crypto ecosystem, including AI-related projects. Monitoring the AI-driven trading volume changes, there was a noticeable 5% increase in AI token trading volumes on decentralized exchanges like Uniswap following the announcement (Source: Dune Analytics, February 9, 2025). This indicates that the news from Base and Coinbase is not only boosting Ethereum but also positively impacting AI token trading activity, highlighting a potential trading opportunity in the AI/crypto crossover.