According to BlockBeats, former Ethereum core developer Eric Conner recently identified three major catalysts for Ethereum's growth. Stablecoins have been continuously injecting dollars into Ethereum for 21 months, with monthly transaction volumes now comparable to Visa. These stablecoins act as an on-chain cash engine, driving sustained demand for ETH block space.
Additionally, spot ETH ETFs saw a net inflow of $1.17 billion in June alone. Fund managers anticipate that the scale of ETH ETFs will multiply by the second half of 2025.
Furthermore, centralized exchange balances have dropped to 9 million ETH, marking the lowest level since 2015.
Eric Conner noted that Ethereum has been fluctuating between $2,400 and $2,600 for several weeks, with reduced trading volumes and subtle highs and lows. Long-term consolidation often leads to significant volatility. Therefore, if ETH decisively breaks through the $2,600 mark, the movement could be rapid and intense.
