• Ethereum’s been on a roll, climbing 3% in the last day to $2,810, and leading the charge against other big cryptos.
  
• Turns out crypto exchange ByBit is making big ETH buys to cover losses from that hefty $1.5 billion hack.
  
• Crypto watchers are buzzing about Ethereum’s potential, with some even throwing out sky-high predictions of $15,000 or $19,000 by next year!
  

Ethereum’s been shaking off a few slow months and is finally showing some real pep. In fact, it’s currently shining as a top performer in the crypto space. Just to put numbers on it, ETH is up 3% over the past 24 hours, and if you look at the week, it’s up 4%, currently trading around $2,810.

This positive move is happening even while Bitcoin’s price took a bit of a dip, down 0.5% in the last day and a negative 1.2% over the week. When you look at the top ten crypto giants, Ethereum’s gains are the best in the bunch. Others are either seeing red, like XRP, or just barely inching forward, like Cardano (ADA) with a mere 1% gain.

With Ethereum standing strong while the wider market seems to be taking a breather, a lot of folks are feeling pretty good about where ETH is heading in this bull market.

Why’s Ethereum Pumping Today?

So, what’s fueling this Ethereum price jump? Well, it looks like it’s connected to ByBit, the crypto exchange, and their ongoing efforts to buy back ETH after that massive hack over the weekend where they lost a whopping 500,000 ETH. Initially, instead of rushing to buy ETH, ByBit borrowed funds from partners like Bitget to handle the user withdrawals.

Related: Bybit Sees Surprise $4B Inflows After Major Hack as Partner Support Floods In

But now, ByBit has started actively buying ETH again to really cover the losses from that $1.5 billion hack. According to Lookonchain, who keeps a close eye on the market, ByBit first used $100 million in USDT to grab 36,893 ETH just yesterday evening. Then, they followed up with another 34,863 ETH purchase a few hours later, bringing their total spend to $197 million.

And it didn’t stop there! Today, ByBit has continued their buying spree, and in just the last 24 hours, their total ETH purchases have reached a staggering 106,498 tokens, worth about $295 million.

This huge buying pressure is definitely showing up in Ethereum’s price action over the past day. Now, everyone’s wondering, where will Ethereum go next?

How High Will ETH Go?

According to Ash Crypto, a well-known crypto voice with a big following of 1.6 million on X, ByBit’s buying power alone might be enough to push ETH back up to $4,000.

But that’s not all! In a previous chat, Ash Crypto suggested Ethereum could even rocket to $15,000 this year. This prediction is based on the idea that Ethereum might repeat the same kind of growth it saw during the last big bull run.

“Ethereum pump will melt faces,” he boldly stated. To give you some perspective, if Ethereum climbs from its current $2,810 to $15,000, that would be a massive 434% gain for anyone holding ETH right now.

Related: Ethereum Eyes a Potential Parabolic Rally in 2025 with $15K-$25K Target

Analyst “Crypto Elites” agrees about the potential for Ethereum to hit $15,000. He thinks the journey to that high target will really kick off once Ethereum breaks through the $4,000 price mark.
Adding to the excitement, another market watcher, “Abhi Unchained,” pointed to technical patterns and even suggested a peak of $19,000!