Ethereum has embarked on a strong upward trend in recent weeks, with a 40% increase in the past week. As the second-largest cryptocurrency by market capitalization, its price has surged past the key psychological level of $2,500, with nearly 6.61 million investors' positions about to turn profitable.
There are four core driving forces behind this round of increase: first, whale addresses holding 10,000 to 100,000 ETH are accumulating at the fastest pace in nearly three years, signaling significant institutional interest; second, following the Pectra upgrade, the amount of network staking has surged, leading to a continuous tightening of circulating supply; third, the tokenization scale of RWA on the Ethereum mainnet has surpassed $5 billion, with a monthly increase of 12% for U.S. Treasury tokenization; fourth, BlackRock's proposal for an Ethereum ETF staking submitted to the SEC has garnered market attention, and if approved, it would bring an annualized staking yield of 3.2%, making ETH an innovative financial instrument that combines capital appreciation and cash flow properties.
The head of digital assets at BlackRock pointed out that the staking mechanism may fundamentally change the attributes of crypto assets, making them closer to traditional income-generating financial products. Market analysis suggests that institutional demand for participation in staking through ETFs could reverse the current cooling of products, injecting sustained momentum for ETH to challenge $3,000 or even higher prices.
