Ethereum Aims for $5000 This Month: Concentrated Chips Ignite Upward Momentum!
The current market pattern of Ethereum has undergone a critical change — retail chips continue to decrease, and the ETH balance on exchanges has dropped to 15.35 million, the lowest level since 2016. Investors familiar with history know that a similar chip concentration phenomenon occurred in 2017, after which Ethereum skyrocketed from $8 to $870, a staggering increase of 108 times, directly ushering in the golden age of DeFi.
The pace of institutional entry is accelerating, with three leading companies launching a "micro-strategy-like" purchasing mode. Last month, BitMine alone purchased $2.9 billion worth of ETH, which only accounted for 0.6% of its planned 5% total holding. The potential for subsequent incremental funds is enormous. Additionally, 29.6% of ETH on-chain has entered a staking lock-in state, leaving retail investors with only Gas fees for interaction. After last week's sharp drop, the upward resistance for Ethereum has significantly decreased.
In the short term, breaking through the December 2024 high of $4107 is the primary goal; in the medium term, the target is the historical high of $4868 in November 2021. With optimized chip structure combined with institutional capital support, Ethereum is entering an accelerated phase where "the light boat has passed over ten thousand mountains." A violent rally by Wall Street capital may soon begin, and investors need to hold on tight to welcome a new round of increases!
