Ethereum Price Rises 3% Amid Vitalik Buterin's Gas Futures Proposal

As per Insidebitcoins, the Ethereum price increased 3% in the last 24 hours, reaching $3,160, with a 165% surge in trading volume to $26.3 billion. The price movement follows a proposal by Vitalik Buterin for an on-chain gas futures market, which would allow users to lock in transaction costs for future periods. The proposal aims to stabilize and make gas prices more transparent for traders, developers, and institutions. Under the model, high-volume users could buy contracts to secure a base fee for blockspace in advance, similar to traditional futures markets. Buterin argues this could help users hedge against volatility and provide clearer signals about long-term network fee expectations. On-chain data shows Ethereum fees remain low and stable compared to previous bull markets, with average transaction fees currently around $0.30. The price is currently trading below key resistance levels at $3,350–$3,550, with bulls needing to break through to signal a stronger uptrend.