Ethereum Whales Add $1.3 Billion on ERC-8004 Hype — But One Metric Still Blocks a Rally

Ethereum has seen renewed attention after the unveiling of ERC-8004, a new AI-focused standard aimed at giving autonomous agents on-chain identity, reputation, and validation. On the surface, it looks like the kind of innovation that should lift sentiment. Post that, the Ethereum price was up almost 2.5% over the past 24 hours. But the market reaction tells a different story. While large holders have stepped in and the price has stabilized, sentiment remains deeply depressed. The gap between structural progress and market confidence is now the key tension shaping Ethereum’s next move. ERC-8004 Price Impact? Why Ethereum’s AI Upgrade Might Not Drive A Rally, Yet ERC-8004 is designed to support decentralized AI agents by giving them a portable on-chain identity, reputation history, and validation. In simple terms, it helps machines trust and transact with each other without centralized platforms. That is a meaningful step for Ethereum’s long-term role in AI coordination. ERC-8004 is going live on mainnet soon.By enabling discovery and portable reputation, ERC-8004 allows AI agents to interact across organizations ensuring credibility travels everywhere.This unlocks a global market where AI services can interoperate without gatekeepers. https://t.co/Yrl0rvnSxj— Ethereum (@ethereum) January 27, 2026 However, sentiment data shows the market is not reacting the way it did to Ethereum’s last major upgrade cycle. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. When the Pectra upgrade went live on mainnet in May 2025, positive Ethereum sentiment jumped sharply. On the day of launch, the positive sentiment score sat near 259. Within three days, it surged to 610, a gain of roughly 135%. That expansion in sentiment preceded Ethereum’s multi-month rally into late summer (August), when the price eventually peaked after sentiment later reached yearly highs near 749. ERC-8004 Fails To Lift Sentiment: Santiment The contrast to...