Ethereum Price Now Targets $2,875 as Vitalik Buterin Responds to Cardano Founder with 800x Update

Despite short-term dip, a closer look and mid-term price action shows bullish dominance as U.S. President Trump‘s softened stance on tariffs. At the time of publication, CoinGecko data shows ETH’s weekly returns standing at +12.4%, compared to Bitcoin‘s +10.6%. However, on the monthly view, ETH’s 6.0% gain trails BTCs double-digit surge.

This divergence reflects active capital rotation as trader leverage the volatile macro sentiment to execute short-term plays.

Vitalik shares Layer-Zero Update after Charles Hoskinsons criticism

Notably, last week, Cardano founder Charles Hoskinson launched a scathing criticism of Ethereum, predicting that “Layer-2s are sucking out all the alpha for ETH,” warning in a CNBC interview aired on April 17, that Ethereum “could collapse within 15 years” if the trend continues unchecked.

Hoskinson‘s remarks fueled debate across crypto media channels about Ethereum’s long-term viability, as Layer-2 networks like Arbitrum and Optimism increasingly capture user activity and fees.

In an indirect but timely response, Ethereum co-founder Vitalik Buterin shared a major Layer-Zero scalability update on Sunday.

Through his vitalik.eth account, Buterin reposted product launch documentation from LayerZero Labs and Succinct Labs, proposing a shift from the EVM (Ethereum Virtual Machine) to a more efficient zkVM system using RISC-V standards.

According to the reposted research this update would expand Ethereums network capabilities by:

• Up to 832× fewer cycles than current EVM interpreters
• 95.7% reduction in proving cycles via precompiles
• 30× throughput increase with GPU acceleration
• 346MB → 1.5MB proof compression via recursion

These Layer-Zero vApps (Verifiable Applications) technology aims to combine Web2-level performance with Web3 verifiability, offering a new path to scaling Ethereum without excessive reliance on Layer-2 networks.

How Could Vitaliks Layer-Zero Update impact Ethereum Price？

If successfully implemented, Vitaliks Layer-Zero framework could reshape Ethereums scalability narrative, potentially alleviating long-term fears about ecosystem fragmentation

A transition to high-efficiency zkVM infrastructure could enhance Ethereums competitiveness against newer chains and reduce fees directly on the Layer-1 base.

Ethereums Vitalik Buterin issues proposal to replacing the EVM with RISC-V | Source: x.com/pumatheuma

In the short term, however, Ethereum price forecast hangs in the balances as it continues to languish below $1,800 and remains sensitive to short-term risks as Bitcoins dominance rises.

Ethereum Price Forecast Today: ETH Eyes $2,875 Target After Falling Wedge Breakout

Ethereum (ETH) currently trades at $1,780 as of Monday April 28, printing a falling wedge pattern after 12% gains last week.

This technical pattern suggests a bullish reversal for ETH price with the a critical target at $2,850, as marked by the red vertical dotted projection on the chart.

Notably, the Parabolic SAR (Stop and Reverse) indicator, plotted as blue dots below the recent candles, reinforces the bullish trend, suggesting that buyers are now in control after months of selling pressure.

Ethereum price forecast today

Supporting this upside scenario, the Fisher Transform indicator shows strong positive momentum, currently reading 2.22, indicating overbought conditions but also underlying strength. While a minor pullback cannot be ruled out, the mid-term momentum still leans heavily in favor of the bulls.

Still, failure to maintain the support cluster around the Parabolic SAR level at $1,569 could invalidate the bullish thesis, likely making the $1,385 low as a potential bearish target.