#ETHRally What is happening?✨
👉🏻Supply on exchanges at historic lows: Only 18.95 million ETH remain on exchange platforms, marking a 9-year low. This suggests strategic accumulation and a reduction in selling pressure.
👉🏻Institutional adoption and expanding DeFi: With Layer 2 networks like Base (from Coinbase) generating millions in revenue, Ethereum is positioning itself as the backbone of the new financial infrastructure.
👉🏻Wrapped BTC and ETFs: The rise of tokens like WBTC and cbBTC, anchored in Ethereum, is causing a scarcity of circulating BTC. This makes ETH a key collateral asset for loans and reinvestments.🔥🔥🤓👩🏻💻