Ethereum Spikes 9% to Hit $2,445 Today (3/3/25) – What’s Driving the Rally?

Jakarta, Pintu News – After Donald Trump announced that he had signed an executive order to establish the Crypto Strategic Reserve, which includes XRP, Solana, Cardano, Bitcoin, and Ethereum (ETH) on Sunday (2/325), the overall crypto market experienced a surge in prices.

Not only that, the Ethereum Foundation (EF) officially announced a change in leadership by appointing Hsiao-Wei Wang and Tomasz Stanczak as Co-Executive Directors. The change comes in response to growing calls for structural changes within the organization, marking a new step in EF’s strategic direction.

Then, how will the ETH price move today?

Ethereum Price Up 9.52% in 24 Hours

On March 3, 2025, Ethereum (ETH) surged 9.52% in the past 24 hours, reaching $2,445 (approximately 40,311,802 IDR). Earlier in the day, ETH dipped to 36,223,272 IDR before making a strong comeback, nearing its peak at 41,884,818 IDR. What’s fueling this rally?

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $294.93 billion, with daily trading volume also up 142% to $$36.85B billion in the last 24 hours.

Read also: Bitcoin Surges to $93.000 Again (3/3/25) – Trump’s Influence Sparks Rally!

Trump Announces Crypto Strategic Reserve, Crypto Markets Explode

On Sunday (2/3/25), Donald Trump announced on social media that he had signed an executive order to establish the Crypto Strategic Reserve, which initially includes XRP, Solana (SOL), and Cardano (ADA).

About an hour later, he revealed that Bitcoin (BTC) and Ethereum (ETH) would also be a major part of the reserve. The first three crypto assets to be announced instantly surged by 62% within a day.

The announcement sparked a huge surge in the crypto market, with Bitcoin (BTC) rising 7.5%, Ethereum (ETH) jumping 10.2%, Solana (SOL) increasing 18.8%, Cardano (ADA) skyrocketing 61.7%, and XRP seeing a rise of 24.5%.

As of March 2, 2025, the top four performing assets, with a market capitalization above $1 billion, are Cardano (ADA), XRP (XRP), Meme coin Official Trump (TRUMP), and Solana (SOL).

Meanwhile, BNB (BNB) recorded the least growth among the top 10 crypto assets (outside of stablecoins), but still saw a gain of 2.55%. Trump’s announcement also helped reverse the sharp downward trend that followed his post-victory price surge.

Read also: CME Group Unveils Solana Futures on March 17 – Is a SOL ETF Next?

Over the weekend, Ethereum (ETH) jumped 20% to $2,482, XRP rose 38%, Solana increased 20%, and Cardano skyrocketed by 78%. This rally could potentially continue until Trump holds his first “White House Crypto Summit” on Friday.

Ethereum Foundation’s new leadership model sparks discussion in the community

According to the official announcement, Hsiao-Wei Wang and Tomasz Stanczak will play a key role in shaping the future of the Ethereum Foundation, while remaining committed to the development of the broader Ethereum ecosystem.

Dr. Wang has spent the past seven years as a researcher at the Ethereum Foundation, focusing on Beacon Chain as well as active involvement in the Ethereum community in Taiwan. His extensive experience gives him a deep understanding of Ethereum’s fundamental principles and the Foundation’s mission.

On the other hand, Stanczak brings strong leadership experience from his role at Nethermind, one of the important execution clients in the Ethereum ecosystem. Although still connected with Nethermind, he is currently in the process of leaving his post as CEO.

The Ethereum Foundation expects these two leaders to help steer the growth and evolution of Ethereum. This leadership change comes on the heels of another major change, where Aya Miyaguchi, who has served as Executive Director for seven years, is now promoted to President of the Ethereum Foundation.

In addition, this shared leadership model sparked discussions in the community about its impact on decision-making efficiency and the potential for internal competition.

In response to these concerns, Stanczak asserted that the Ethereum Foundation leadership will operate with a “full trust and full parallel mandate” approach, meaning each leader can make decisions independently while still collaborating.

Read also: 5 Next Crypto to Explode in 2025!

He also added that ecosystem participants have the flexibility to interact with the co-Executive Director that best suits their needs.

“The Ethereum Foundation leadership team has a more collective feel than a CEO-led organization. Vision comes from Vitalik Buterin and Aya Miyaguchi, strategy is designed by the leadership team and the entire Ethereum Foundation team, and execution is carried out by myself and Hsiao-Wei Wang. We are tasked with serving the Ethereum Foundation and its ecosystem, communicating as much as possible, and making the best decisions without delay when necessary,” Stanczak wrote.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Ethereum Foundation Announces Co-Executive Leadership Restructure. Accessed on March 3, 2025
• Coinpedia. Why Bitcoin Ethereum and XRP Price are Up Today? Accessed on March 3, 2025