#Ethereum went absolutely crazy today, peaking at the 4700 mark, just under 200 dollars away from the previous high - just a shiver away. The driving force behind this, BMNR has once again made a big move: planning to issue 20 billion dollars in stock to buy more ETH.
A month ago, this company's market value was only tens of millions, but now it has directly gambled to become one of the global ETH reserves. Bringing in Peter Thiel, Cathie Wood, and even using borrowed startup funds, options, credit, and other means to go all in, just to do one thing - to push ETH to the sky.
This wave of the bull market is clearly different from 2021.
At that time, it was more about pushing hard, but this time it’s real money flowing in, with a significant capital multiplier effect. ETH/BTC has already risen to 0.0387, compared to the 0.05 before the ETF, there is still room for growth. If it returns to the peak of 0.088 in 2021, based on BTC at 120,000, ETH could surge to over $10,000, or even have the opportunity to touch $15,000–$20,000.
Of course, don’t jump in blindly. The mentality of holders and traders is vastly different; a single trading mistake could mean you’re off the bus forever.
The macro environment is also adding drama.
Last night’s #CPI data was mixed, but the probability of a rate cut in September is almost certain. Hawks within Trump, BlackRock, and the Federal Reserve have turned to support a 50 basis point rate cut, and U.S. stocks have already strengthened in advance, with Bitcoin and ETH also gaining momentum.
Cathie Wood publicly 'jinxed' ETH last night: L2 of Coinbase and Robinhood are based on ETH, and the stablecoin wave is also occurring on ETH; Ethereum's treasury can be staked to cover operational costs, with security and decentralization being the industry benchmark. ARK has truly heavily invested in ETH this time.
The stablecoin track is also quietly changing.
Circle announced a new chain Arc, using USDC as Gas, targeting payment, foreign exchange, capital markets, and other scenarios; USDT is also advancing its own chain. The future landscape of public chains may see 'super blue chips' in the stablecoin sector.
In terms of altcoin trends, this wave is following ETH's rise, and so far no one has outperformed ETH. Funds are waiting for ETH to hit new highs, ideally stabilizing above 5000, so that altcoins can have enough momentum to take off comprehensively.
#Solana has performed impressively recently, briefly breaking 200, with eco-projects collectively rising and on-chain activity surging, and there are expectations for ETFs ahead.
Platform tokens are also starting to stir, #OKB jumped directly from 45 to 142 due to buybacks, with GT and BGB following closely.
To summarize: we are now in the second wave of a bull market, with mainstream coins leading the way, and a rotation of altcoins is underway. Holding valuable coins and timely replacing poor-performing ones is the only chance to wait for the real 'epic golden dog' to be released.
The article ends here! If you are still unclear about the direction in the crypto space, it might be better to plan together with me. I'm waiting for you; otherwise, in the next wave of market, you might be the one standing on the opposite shore.