Ethereum is pumping hard and continuing on a major bullish trend. Many reasons are driving this positive crystal gaze. These are things like a growing Total Value Locked (TVL), an increase in daily active addresses, a deflationary supply, and the possible approval of a spot Ethereum ETF by the U.S. Securities and Exchange Commission (SEC). Our ongoing analysis reveals that overcoming this $5,000-$6,000 resistance level is key for this bullish projection to come to fruition.

Ethereum has a $51.5 billion lead on the rest of the blockchain space. There’s now a total TVL of $95.5 billion across all chains. That’s a 2.0% increase over only the past 24 hours! As such, the recent uptick is a strong sign of confidence and increasing activity among the Ethereum ecosystem.

The Ethereum network has maintained an average of 527,000 daily active addresses this month, further emphasizing ongoing and growing user engagement. This ongoing engagement helps strengthen the network’s usefulness and overall power to attract a diverse set of users.

The number of active validators on Ethereum has recently exceeded one million, a testament to the security and decentralization of the network. The portion of all ETH that is currently staked has risen well to over 26%. This increase indicates that holders have a strong stake in the future health of the network.

Industry analysts are in agreement that Ethereum has tremendous potential for future growth. They draw similarities to Ripple (XRP) and Stellar (XLM), which have both experienced substantial runs in their respective market caps. This side by side comparison shows the amount to which Ethereum’s market cap can grow to become significant.

The new deflationary supply of Ethereum and its strong staking fundamentals make the run to $10,000 possible. This results in a deflationary supply which means new ETH is created at a slower rate than the amount being burned/removed from circulation. This demand/supply imbalance would only serve to increase the price.

The U.S. SEC's approval of a spot Ethereum ETF could inject an estimated $5 billion in inflows during the first year. Given how much capital is currently chasing Ethereum’s promise, such an influx would almost certainly have a highly positive impact on its price, dramatically accelerating its price ascent.

New predictions place Ethereum’s price at a minimum of $8,000. Still, the more ambitious $10,000 by 2025 is what investors and analysts continue to gravitate toward.

Since it first launched, Ethereum has returned shareholders a mind-blowing 619,116%! This long-term track record of performance highlights has created the potential for wide returns, garnering attention from both retail investors and institutional investors alike.

If you put in 100 dollars into Ethereum right now, you could see those returns multiply tremendously. It would increase to about $392 if the price were to reach $10,000! Likewise, a larger $10,000 investment would be about $25,500 in today’s dollars at the same level.