ETH has continuously refreshed its second-high and is steadily launching an attack towards the historical new high. If BTC can put in more effort at this time, stabilizing above the 120,000 mark or even breaking the record again, it will undoubtedly become the strongest assist—yesterday's prediction for the market has already been realized today, which is truly a pleasant surprise for Ethereum.
From the betting data of the largest decentralized prediction market Polymarket, the probability of Ethereum hitting a historical high this year is 74%. In my view, the possibility of it breaking new highs and standing at 5,000 points may be even higher, as it is currently only about 10 points away from this target. For an asset that has rebounded 3 times from its low, a 10-point increase is actually not a difficult task.
The core value of Ethereum has always been its ecosystem, and the prosperity of the ecosystem can be demonstrated through intuitive data, with the on-chain locked amount (TVL) being one of them. As the market's attention focuses on Wall Street capital continuously increasing its holdings in Ethereum, its TVL has surpassed $90 billion and is approaching the historical peak of $100 billion. It is not hard to imagine that if Ethereum's price hits a new high, this data will likely also refresh its record. Price and ecosystem have always complemented each other; what is even more noteworthy is that even if this round of market conditions is not directly driven by the development of Ethereum's ecosystem, its data can still approach historical peaks. This indirectly indicates that although the growth pace of Ethereum's ecological value is relatively slow, it is steadily improving in a tangible way.
Another noteworthy piece of data is the total issuance of on-chain stablecoins, which can reflect the degree of trust in the chain to a certain extent, similar to the logic of different trading platforms competing for existing funds and the total amount of stablecoins. According to Surf data, the current total amount of stablecoins on the Ethereum network stands at 137 billion, ranking first, while TRON follows closely with 83 billion. TRON has occupied the market in many scenarios (including some applications outside the crypto space) due to its first-mover advantage and low transfer costs, but the data still shows a significant gap with Ethereum, mainly thanks to the contributions of stablecoins like USDC. It is worth mentioning that the total amount of stablecoins on the two public chains, ETH and TRX, accounts for over 80% of the global total, maintaining an absolute leading position.
Specifically regarding the market, Ethereum has officially broken through 4,100, refreshing its historical second-high, while Bitcoin's simultaneous strength can be described as the 'most ideal state', indicating that capital is still continuously flowing into the market. As BTC's pricing power gradually shifts to Wall Street, the capital that has tasted success seems to be starting to scramble for ETH chips. Relatively speaking, in terms of both market capitalization and price, ETH's attractiveness is more significant—when the demand for an asset continues to rise, the price will naturally follow suit. Next, we can pay attention to the breakthrough at 4,800 points; during this period, I plan to further reduce my position by 10% and flexibly operate based on market conditions. Currently, my total position is slightly below 70%.$ETH 
