Table of Contents
Overview of the Day’s Trading
Ethereum’s Saturday saw a wild ride. Markets started the day tense after a security breach at a major global exchange shook up the crypto world. That attack caused asset freezes across the industry, making everyone a bit nervous. Still, Ethereum managed to hold steady, trading in a range between $2,380 and $2,465 (about ₹211,454 to ₹212,914). By the middle of the day, it was sitting at $2,425 or so.
Wall Street added to the risk-off mood. Tech stocks were hammered after Intel cut its earnings outlook by almost 29% and investors worried about tech giants pulling back on spending. Even then, ETH barely budged, ending the day down 0.35% on the low end or up 0.65% at best, depending on which feed you watched. Its market cap stayed between $291.5 billion and $297.8 billion.
What helped support Ethereum was a strong performance in staking. Over 35 million ETH or about 29% of the whole supply was locked up for proof-of-stake validation. So, less ETH was available for trading, which helped buffer the price from bigger drops.
What Moved the Market?
Security Incident and Market Reaction
Late Friday, a big exchange experienced an attempted hack. Industry security teams jumped in fast. Together with analytics companies, they froze more than $2.54 billion in at-risk assets. That quick work stopped hackers from dumping these tokens and crashing prices even more. This calmed things down and kept large investors from panicking. It gave the market some time to breathe and let Ethereum settle back up over the $2,400 line.
Engineering Progress: Hoodi Testnet Reveals New Limits
Ethereum developers hit a milestone this weekend. They finished up stress testing on a new testnet Hoodi which looked at running blocks with a massive 200 million gas limit. Teams behind the most-used Ethereum clients (like Geth, Nethermind, Besu, and Erigon) all reported positive results.
Blocks moved across the network smoothly, with delays well under the danger zone. Storage speeds for validating and writing blocks held up just fine on typical validator hardware. These tests proved Ethereum can keep scaling up without getting bogged down.
Proof-of-Stake: Lockups Reach New Record
Network data revealed another record for staked ETH. More than 35.3 million coins are now locked in. The activation line for new validators stretched to almost five days meaning lots of institutions wanted to stake their ETH and catch the roughly 3.2% return. This continued pressure drained exchange wallets, pushing available ETH on big platforms like Coinbase, Binance, and OKX even lower.
Key Stats and Performance Metrics
- ETH Price Range: $2,380 – $2,465 (₹211,454 – ₹212,914)
- 24-Hour Change: -0.35% to +0.65%
- Total Staked ETH: 35.32 million ETH (28.94% of all ETH)
- Global Market Cap: About $294.2 billion
- Exchange Volume: Roughly $11.8 billion over 24 hours
- DeFi Value Locked: $55.3 billion in DeFi apps
ETH’s price held above its 20-day exponential average ($2,418) and met resistance close to $2,485. Major moves above $2,580 would mark a more convincing sign of a bigger rally.
Technical Chart Analysis
If you look at ETH’s price chart, you’ll see it found a comfortable spot above $2,418. The next big test lies at $2,485. If bulls manage to push through that, we could see prices race toward $2,580 and possibly higher.
The 14-day RSI is at 50.8, showing things are pretty balanced there’s no obvious sign of the market being overbought or oversold.
Some of the main technical levels traders are watching:
- Immediate resistance: $2,485
- Bigger breakout target: $2,580
- Key support: $2,418 (now acting as a price floor)
- Main safety net: $2,335 (the lowest point from earlier in October)
Derivatives markets (like perpetual swaps) are playing it safe funding rates are flat, showing that real buyers, not just leveraged bets, are behind recent moves.
Layer-2 Networks and DeFi
Ethereum’s scaling solutions are doing most of the heavy lifting. On October 31, networks like Arbitrum, Base, Optimism, and zkSync handled over 87% of all transactions. Transaction fees on these “rollup” solutions remained super cheap well under one cent per move.
DeFi (decentralized finance) protocols like Lido and Uniswap also remained strong. DeFi’s total locked value hovered above $55 billion, mostly powered by liquid staking and trading.
Daily activity on Ethereum burned around 1,830 ETH in transaction fees. This ongoing burn helps keep the total ETH supply in check, offsetting the coins that validators earn through PoS staking.
What’s Next for November?
With October finished, the market is looking toward November with three main scenarios in mind.
Bullish Case: Price Breakout
If the Hoodi testnet results stick and security fears fade, Ethereum could rally above $2,485. If this happens, expect traders to target $2,580 in the short-term, and possibly as high as $2,750 further out.
Sideways: Price Consolidation
It’s possible ETH continues trading in a tight range between $2,380 and $2,485, as traders wait for more news on the economy, interest rates, or big tech earnings.
Bearish: Downside Retest
If another wave of risk-off sentiment sweeps global markets or if another security scare hits Ethereum could fall below $2,335, possibly testing support as low as $2,150.
Summary Table: Ethereum on October 31, 2026
- Spot Rate: $2,380 – $2,465 (₹211,454 – ₹212,914)
- Staked ETH: 35.32 million (28.94%)
- 24-Hour Price Movement: -0.35% to +0.65%
- Testnet Update: Hoodi 200M gas limit test successful
- Support: $2,418 / $2,335 / $2,150
- Resistance: $2,485 / $2,580 / $2,750
Final Thoughts
After one of the most unpredictable weekends in months, Ethereum showed that resilience matters. Fast security responses, robust client upgrades, and heavy staking kept prices steady. But with the world watching central banks, tech earnings, and the usual crypto curveballs, November could bring almost anything.
Just remember crypto is always risky. This report doesn’t give you investment advice. Think for yourself and stay cautious.
