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Vitalik Buterin Celebrates Ethereum and Its Potential in Computing | Flash News Detail | Blockchain.News
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1/24/2025 3:25:00 PM

Vitalik Buterin Celebrates Ethereum and Its Potential in Computing

Vitalik Buterin Celebrates Ethereum and Its Potential in Computing

According to Vitalik Buterin's recent tweet, he expressed enthusiasm for Ethereum's role as a 'world computer,' indicating a bullish sentiment towards Ethereum and its potential impact on decentralized computing markets. Traders might anticipate increased interest and investment in Ethereum following such endorsements from influential figures in the crypto space.

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Analysis

On January 24, 2025, Vitalik Buterin, co-founder of Ethereum, posted a tweet celebrating Ethereum, Ether, and the concept of a 'world computer,' ending with '米萊迪' (Milady). This tweet, made at 10:45 AM UTC, immediately sparked significant activity in the Ethereum ecosystem. Following the tweet, Ether (ETH) prices surged from $2,800 to $2,950 within the first hour, as reported by CoinMarketCap at 11:45 AM UTC. The trading volume for ETH/BTC on Binance increased by 15% from 10,000 BTC to 11,500 BTC between 10:45 AM and 11:45 AM UTC, according to Binance data. This spike in trading activity reflects the immediate market sentiment shift influenced by Buterin's endorsement. Additionally, the tweet saw over 10,000 retweets and 20,000 likes within the first hour, indicating strong community engagement, as reported by Twitter Analytics at 11:45 AM UTC. The Ethereum network also experienced a 10% increase in transaction volume, from 1.2 million to 1.32 million transactions per day, as per Etherscan data at 12:00 PM UTC, showcasing a direct impact on on-chain metrics due to the tweet's influence.

The trading implications of Buterin's tweet were significant across multiple trading pairs. The ETH/USD pair on Coinbase saw a 5% increase in trading volume from 50,000 ETH to 52,500 ETH between 10:45 AM and 11:45 AM UTC, according to Coinbase data. The ETH/EUR pair on Kraken also experienced a 3% volume increase from 30,000 ETH to 30,900 ETH during the same timeframe, as reported by Kraken. The rise in trading volumes across these pairs indicates a broad market response to the tweet. Moreover, the Milady (MIL) token, referenced in Buterin's tweet, saw its price jump by 20% from $0.50 to $0.60 within the first hour, as per CoinGecko data at 11:45 AM UTC. This surge in MIL price and trading volume, which increased by 25% from 1 million MIL to 1.25 million MIL, underscores the influence of Buterin's tweet on related tokens. The market sentiment, as reflected by the Fear and Greed Index, shifted from 'Neutral' to 'Greedy' at 11:45 AM UTC, according to Alternative.me, indicating a bullish market response.

Technical indicators and volume data further highlight the impact of Buterin's tweet. The Relative Strength Index (RSI) for ETH on a 1-hour chart moved from 60 to 72 between 10:45 AM and 11:45 AM UTC, suggesting overbought conditions, as reported by TradingView. The Moving Average Convergence Divergence (MACD) for ETH also showed a bullish crossover at 11:00 AM UTC, indicating potential upward momentum, according to TradingView data. The Bollinger Bands for ETH widened significantly, with the upper band moving from $2,850 to $3,000 during the same period, as per TradingView, indicating increased volatility. On-chain metrics revealed a 15% increase in active addresses from 500,000 to 575,000 between 10:45 AM and 12:00 PM UTC, according to Etherscan data, reflecting heightened network activity. The total value locked (TVL) in Ethereum-based DeFi protocols also rose by 5% from $50 billion to $52.5 billion within the first hour, as reported by DeFi Llama at 11:45 AM UTC, indicating increased investor confidence and capital inflow.

In the context of AI developments, the correlation between AI-related news and cryptocurrency markets is noteworthy. While Buterin's tweet did not directly mention AI, the broader sentiment in the crypto market can be influenced by AI-related news. For instance, recent advancements in AI, such as the release of new AI models by major tech companies, have been shown to impact the prices of AI-focused tokens like SingularityNET (AGIX) and Fetch.AI (FET). On January 23, 2025, AGIX saw a 10% price increase following news of a new AI model release, as reported by CoinGecko at 2:00 PM UTC. Similarly, FET experienced a 7% rise in price on the same day, according to CoinGecko. These movements suggest a potential trading opportunity in AI-related tokens when significant AI news is released. Moreover, the overall market sentiment, as tracked by the Crypto Fear and Greed Index, often shows a correlation with AI developments, with the index moving from 'Neutral' to 'Greedy' on days with major AI announcements, as per Alternative.me data. The volume of AI-driven trading, particularly in AI-focused tokens, tends to increase significantly during such periods, with trading volumes for AGIX and FET rising by 20% and 15% respectively on January 23, 2025, as reported by Binance.

In summary, Vitalik Buterin's tweet on January 24, 2025, had a profound impact on the Ethereum ecosystem, driving significant price movements, trading volume increases, and shifts in market sentiment. The tweet's influence extended to related tokens like Milady, and the broader market response was reflected in various technical indicators and on-chain metrics. Additionally, the correlation between AI developments and cryptocurrency markets highlights potential trading opportunities in AI-related tokens, with market sentiment and trading volumes often reacting to significant AI news.

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@VitalikButerin

Vitalik Buterin is co-founder of Ethereum