🔥 Why did ETH suddenly surge?
Don't be fooled by ETH's slow start in this cycle, being overshadowed by BTC and SOL, but in the past 30 days, it has suddenly surged 65%, nearly doubling from the April low! What exactly happened? 🧐
1️⃣ Stablecoins + Tokenization Explosion:
Stablecoin payments and RWA are stepping into real scenarios! For instance, Stripe spent $1.1 billion to acquire a stablecoin platform, Meta is preparing to restart its stablecoin business, and with ETH holding 51% of the stablecoin market share, this wave truly reflects underlying value.
2️⃣ Institutionalization of Layer 2 is coming:
Coinbase's Base earned $84 million last year, Robinhood has also entered the ETH L2 space, and even traditional brokerages are getting into on-chain stocks. The gas fees and settlements of these L2s rely on ETH, causing value to flow back to the mainnet.
3️⃣ Shorts are forced to concede and start liquidating 💥:
Over the past year, many funds employed a "long BTC + short ETH" strategy, but now with the narrative shifting, ETH has been severely undervalued, leading shorts to close their positions, resulting in a strong rebound.
🎯 Central Idea:
ETH is not just passively following the trend; the narrative behind it is changing from "mispriced value" to "institutional stronghold." Stablecoin payments, tokenized securities, institutionalization of L2... all contribute to making ETH one of the core logics of this bull market.
