🔥 What is driving the strong surge of Ethereum?
1. Institutional Capital & ETF
• Ethereum-linked ETFs recorded inflows of over 1 billion USD in just one day, a record high since their launch.
• Bloomberg reports: This year, Ethereum ETFs listed in the US attracted more than 6.7 billion USD, while major companies hold ETH in their treasury amounting to 13 billion USD.
2. Technological Foundation & Stablecoin Ecosystem
• Ethereum leads in stablecoin issuance (accounting for nearly 50% of the total market cap of stablecoins worth 261 billion USD). New laws in the US – particularly the Genius Act – create a clear legal framework, enhancing the utility of ETH.
• The Ethereum Virtual Machine (EVM) remains the backbone of smart contracts, widely applied in DeFi and NFTs.
3. Derivative Factors
• Market data on options shows negative net gamma exposure of ETH in the price range of $4,000–$4,400, meaning the hedging activities of market makers could amplify the upward momentum if ETH breaks through resistance levels.
4. On-chain Activity & Network Growth
• Daily transaction volume on Ethereum reached a record high, with the number of new wallets nearly matching the peak level from four years ago.