$ETH

As of June 12, 2025, Ethereum ($ETH) has shown strong recent performance and continuous optimization of fundamentals, with the following core dynamics:

### ⚡️ **Price and Market Performance**

- **Breaking Key Resistance**: ETH has increased by 46% in the last 30 days, breaking through the $2,800 resistance level, reaching a 15-week high (peaking at $2,827 on June 10). The technical formation resembles a “cup and handle” pattern; if it holds above the $2,500 support level, it may aim for targets of $3,000 or even $4,100.

- **Active Derivatives**: Futures open interest has exceeded $40 billion for the first time, with bullish sentiment rising; if the price breaks above $2,900, it could trigger $1.8 billion in short liquidations.

### 🏦 **Regulatory and Institutional Dynamics**

- **Policy Benefits**: The SEC has proposed an “Innovation Exemption” program to provide regulatory flexibility for DeFi projects and clarified that staking Ethereum does not constitute a securities transaction, paving the way for staking ETFs.

- **Capital Inflow**: Spot Ethereum ETFs have seen net inflows for 12 consecutive days, with institutional demand surging (e.g., BlackRock ETF has not seen outflows for 23 days), pushing the ETH/BTC exchange rate up 30% for the month.

### 🔗 **On-Chain Ecosystem Progress**

- **Staking at All-Time Highs**: The staking rate has reached 28.64% (historical peak), locking in 34.59 million ETH, reflecting long-term confidence.

- **Network Expansion**: The number of unique addresses in Q2 reached 17.4 million (+70%), with the Base chain contributing 72% growth; the total supply of stablecoins is increasing by 40%, with 50% circulating on Ethereum, solidifying its core position in DeFi (TVL share at 61%).

### 🐳 **Whale Movements**

- A certain whale has made a profit of $31 million through swing trading within 44 days and bought another 15,000 ETH (approximately $42.3 million) on June 11, signaling bullish intentions.

### 💎 Summary

Regulatory easing, institutional accumulation, and technological upgrades (such as Layer 2 expansion) are jointly driving ETH to break previous highs. If macro risks are controllable, a historic rise may occur within the year 📈.