Ethereum Rally Boosted by Institutional Demand and L2 Growth
Ethereum rally pass 8% for 24 hours reach about $3,470, na e dey push by renewed buying pressure and institutional accumulation. BlackRock add 159,101 ETH, WLFi and SharpLink Gaming sef add their holdings, make total institutional reserve near 1.6M ETH and exchange balances come reach 13.4% of supply.
Wall Street dey see Ethereum as core reserve asset for the on-chain dollar economy. Electric Capital data show say Ethereum hold over 54% of the $200B stablecoin market and back $19B for DeFi loans. Yield-bearing stablecoins wey dey top $4B dey increase demand for ETH collateral.
One Fidelity report talk Ethereum as sovereign digital economy: ETH dey serve as base money and store of value, with daily active wallets pass 2.5M and transaction counts near 19M. Analysts compare ETH to “digital oil,” highlight im role for transaction fees and collateral for tokenized real-world assets.
Ethereum fee revenue don drop from $82M for peak 2021 go $3M now, e mean say e dey shift to Layer-2 scaling. As L2 throughput dey rise, institutional adoption momentum dey strong, e put Ethereum for better position. ETH trade up 23% last week, still under im all-time high of $4,855.
Bullish
Strong institutional acumulation by BlackRock and others, join wit Ethereum dem strong role for di stablecoin market and DeFi, show say demand dey strong wey fit make price rise short term. Di fee revenue dey reduce and Layer-2 adoption dey increase, mean say transaction cost go low and network throughput go higher, e go attract more users and institutions long term. History wey resemble 2017 cycle and rising on-chain signs like low exchange balances and growing staking market cap still support better outlook for ETH.