💎 Ethereum Aims for $3,500 as Layer-2 Adoption Soars!
Ethereum $ETH is gaining strength, trading at $3,420 on 12 Aug 2025, up 4% in the past day. The rally comes as Layer-2 networks like Arbitrum, Optimism, and Base hit record transaction volumes — reducing gas fees and making Ethereum more attractive for developers.
Technical Insights:
is climbing steadily within an ascending channel. If bulls push it past $3,450, the next target sits at $3,500. On the flip side, $3,380 is acting as solid short-term support. The RSI is at 61, signaling more potential upside before overbought conditions.
Why It’s Moving:
Institutional demand for ETH is growing, particularly with the rise of tokenized real-world assets (RWA) on the Ethereum blockchain. Meanwhile, ETH staking has hit a record 34 million coins, locking up over 28% of the total supply. 📊
Market Buzz:
On-chain data shows large $ETH transfers into staking contracts, and social media sentiment is overwhelmingly bullish. If momentum holds, ETH could revisit its 2024 highs sooner than expected.
Final Take:
Ethereum’s strong network fundamentals and booming Layer-2 adoption make it a prime candidate for further gains this month — but traders should keep an eye on $3,500 as a potential inflection point.
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