ETHGas (GWEI) is up 21.7% today amid rising on-chain gas demand, renewed Ethereum activity, and speculative momentum.
Author: Arushi Garg
High attention and emotional sentiment detected.
ETHGas (GWEI) is trading at $0.1086, up 21.7% in the last 24 hours, according to CoinGecko, after live $GWEI airdrop claims rewarded past Ethereum gas spenders. ETHGas is the governance token for a protocol that accelerates Ethereum transaction speeds, provides gas rebates, and builds forward markets for blockspace.
This article is for informational purposes only and does not constitute financial advice.
ETHGas is moving higher because the live $GWEI airdrop has created fresh retail activity around Ethereum gas spending and “proof of pain” rewards. The airdrop went live on April 28 to 29, 2026, through a community campaign claim site and gained traction on X through posts from accounts including @dallehollywood and @davidgua_eth. CoinGecko shows GWEI at $0.1086, up 21.7% in the past 24 hours, while volume spiked alongside the claim activity.
Secondary catalysts also supported the move. The research cites continued momentum from ETHGas’s $3 billion ether.fi partnership, announced on April 15, which centers on validator liquidity and blockspace forward markets. Broader Ethereum gas, infrastructure, and blockspace narratives also helped push attention toward GWEI as traders reacted to the airdrop cycle.
CoinGecko reports $23,515,563 in 24-hour trading volume, which is elevated versus the seven-day average as airdrop claim activity accelerated. ETHGas’s market capitalization stands at $226,778,376, ranking it #171 on CoinGecko. CoinGlass lists GWEI perpetual futures, but the latest snapshot did not display an exact open interest figure or funding-rate reading. Arkham Intelligence, Lookonchain, and Whale Alert did not flag any notable whale transfers in the last 12 to 24 hours. DefiLlama returned no dedicated ETHGas protocol page, so no TVL data is available.
Top X results around GWEI were dominated by airdrop claim posts. The research found no qualifying analyst with at least 50,000 followers. There was also no verified track record of original analysis. The official account @ETHGasOfficial did not post a new price-specific update in the last 24 hours. Its latest pinned content focused on the 90-day post-TGE recap.
No additional verified commentary was available from qualifying accounts in the Top results. As a proxy for sentiment, CoinGecko shows $23.5 million in 24-hour volume against a $226.78 million market cap, indicating strong retail-driven activity. The cautionary data point comes from community claim behavior, where heavy airdrop claiming can create immediate sell pressure consistent with typical claim-and-dump cycles.
The immediate resistance zone sits around $0.11 to $0.112. This is based on the psychological round-number area and the recent swing high from the April 26 all-time-high zone, according to TradingView chart data cited in the research. The key support level sits near $0.093. This matches the 24-hour low zone and the prior breakout base from the April 28 to 29 consolidation. The next major historical level is $0.1367. This is based on the April 26, 2026 all-time high and is included only as a historical reference point.
The 14-day RSI is 72.4, according to TradingView, which places GWEI in overbought territory above the standard 70 threshold. The research also notes that price trades well above shorter-term moving averages, with no immediate 50-day or 200-day crossover in focus.
This article is for informational purposes only and does not constitute financial advice.
ETHGas’s next catalysts remain ongoing airdrop claims, Open Gas Initiative rewards, and continued execution of the $3 billion ether.fi validator liquidity and blockspace forward-market partnership announced on April 15. No token unlocks, vesting cliffs, governance votes, or DAO proposals are scheduled in the next four to eight weeks. The Ethereum blockspace narrative supports attention, but post-airdrop sell pressure remains the main risk, especially if claim-driven demand fades and triggers a 15% to 30% correction pattern seen in similar airdrop cycles.
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