【Virtual Currency】Ethereum's Counterattack in Q2, Whale Accumulation Funds Flow Back, Ecological Growth Gradually Emerges

In the second quarter of 2025, Ethereum (ETH) achieved a strong rebound, with not only price trends exceeding market expectations but also showing signs of recovery in multiple dimensions such as capital flow, ecological structure, and user base. As traders returned to the market, whales concentrated their positions, and network activity continued to increase, Ethereum gradually built a solid foundation for upward movement. Particularly since mid-June, signals such as continuous net inflow of Ethereum ETF funds and a surge in network addresses have become increasingly clear, opening up space for subsequent price stabilization and even breakthroughs.

According to the latest data, as of June 20, 2025, Ethereum's price increase this quarter is nearly 40%, significantly higher than Bitcoin's 28.8% performance during the same period. This strong rebound contrasts sharply with the first quarter when Ethereum's price fell from a high of $3,334 at the beginning of the year to $1,441, a drop of nearly 50%. This recovery is not only a technical adjustment but also accompanied by the rebuilding of capital confidence. The ETH/BTC trading pair has rebounded over 25% from its five-year low in April, reflecting that Ethereum's performance advantage relative to Bitcoin is being repriced. The rapid recovery in the second quarter also marks a shift in the market's attitude towards ETH from cautious to positive, with some long-term holders who were previously in loss beginning to break even, and trading sentiment is quietly improving.

Data at the network level also confirms this point. A report released by the on-chain analysis platform Santiment indicates that the number of new Ethereum addresses per week increased from 560,000-670,000 in the same period last year to 800,000-1,000,000 in May 2025, with a stable and continuous growth trend. This expansion of the user base reflects the increasing practicality and attractiveness of the Ethereum network, providing a solid foundation for its widespread use at the application layer. The growth in addresses not only represents the influx of new users but may also indicate that more developers, DApp projects, and payment uses are beginning to connect to the Ethereum mainnet, building a richer ecological loop.