Ethereum News: Potential Short Squeeze Could Push Ethereum Price Beyond $3,000

Recent developments in the cryptocurrency market have analysts buzzing about the potential for a short squeeze in Ethereum (ETH), which could significantly impact its price. Here’s what you need to know.

Can A Short Squeeze Send Ethereum To $3,000?

Ethereum (ETH) has created two CME gaps at $3,000 and $2,600 due to a recent pullback in the cryptocurrency market. Analyst Ted suggests that a short squeeze could push the price beyond $3,000, potentially filling these gaps. Over the past two weeks, Ethereum has lost $70 billion in market capitalization, currently trading in the low $2,000 range. Analysts believe a short squeeze could benefit ETH bulls.

BioNexus Gene Lab Becomes First Nasdaq-Listed Firm to Prioritize Ethereum in Treasury Strategy

BioNexus Gene Lab (BGLC) has adopted an Ethereum-focused treasury strategy, making it the first Nasdaq-listed company to prioritize ETH. The exact percentage allocation for Ethereum has not been disclosed, but the move follows ETH’s inclusion in the US ’Crypto Strategic Reserve.’ BGLC has released a whitepaper detailing Ethereum’s advantages as a financial infrastructure asset, with a focus on stablecoin settlements, decentralized finance (DeFi), and its potential as a corporate treasury asset. The document highlights Ethereum’s institutional adoption, staking rewards, and upcoming upgrades that enhance its long-term value and corporate utility.

World Liberty Financial Co-Founder Offers to Represent ETH at White House Crypto Summit

Zach Witkoff, co-founder of Trump family-linked World Liberty Financial, offered to represent the Ethereum community at the inaugural White House Crypto Summit on Friday, March 7. The event is hosted by the country’s AI and crypto czar, David Sacks, and aims to provide regulatory clarity to help the US retain blockchain talent and encourage domestic crypto business growth.

Pond.fun Loses 65 ETH In Insider Job

A meme coin launchpad has suffered a major security breach with an insider allegedly siphoning off thousands of dollars worth of cryptocurrency. Pond.fun, a platform built on Linea, lost 64.8 Ether in an attack from within. The stolen funds, worth around $230,000 at current prices, were funneled through Railgun, a service that helps conceal blockchain activity. According to reports, Genesis, the project’s lead software engineer, was behind the attack. He drained liquidity pools using his privileged access and sent the money via Railgun.