Ethereum remains at the center of the cryptocurrency market due to a number of factors, including increased accumulation of the asset by large investors, active discussions on social media, and significant growth in key metrics.
This is reported by Business • Media
Growing Interest in Ethereum Among Investors
According to analytics firm Santiment, there is heightened attention on Ethereum within the network. On Reddit, users are actively discussing fraudulent schemes involving fake crypto wallets that have led to financial losses. Meanwhile, in Telegram, Ethereum continues to be recognized as the leading platform for smart contracts. Research indicates that by 2025, there will be active growth in staking, DeFi, NFT, L2 solutions, and institutional adoption of the platform.
“Ethereum remains in the spotlight, driven by several factors. Experts note that Reddit is buzzing with discussions about fraudulent schemes involving fake crypto wallets, causing users to lose Ethereum. In Telegram, Ethereum is mentioned as a key platform for smart contracts and is showing growth in staking, DeFi, NFT, L2 solutions, and institutional adoption.”
Mass Accumulation and Capitalization
The increased activity surrounding Ethereum is observed against the backdrop of price fluctuations and the celebration of the network’s 10th anniversary. Noted analyst Ali Martinez pointed out that in the last two days, the largest whales in the network have purchased over 220,000 ETH, equivalent to approximately $840 million. According to Lookonchain, since July 9, nine new wallets have accumulated a total of 640,646 ETH worth $2.43 billion.
CryptoQuant experts emphasize that the rise in Ethereum’s value is not related to capital flowing from Bitcoin. Bitcoin’s realized capitalization has set a record at $1.018 trillion, indicating a continued increase in investments in this asset, even amidst the rally in the Ethereum market. This suggests that new capital is entering Ethereum rather than being redistributed from Bitcoin. Analysts note that the current rise in Ethereum has been influenced by the Genesis Law effect and high expectations for the further development of the ecosystem.
Additionally, according to Glassnode, open interest in Ethereum has reached its highest level in the past two years, further highlighting the growing interest in this asset among market participants.