jakiro
Author: Crypto Monkey Brother Source: X, @monkeyjiang
ETH is still the leader of the bull market, ready to go!
This article will analyze Ethereum’s future growth potential from multiple dimensions!
Everyone must focus on it, this will determine your bull market returns!
In the past few months, Ethereum was despised by many people.
The so-called public chain of flowing water, the iron-clad Ethereum,
Brother Monkey has always been firmly optimistic about the future potential of Ethereum!
1. One of the core narratives of the bull market industry
1. The ecological foundation is the largest, the most prosperous, and the most users. There are many ecological projects that have long been in the vertical direction, and the consensus is strong!
2. Although Ethereum’s network innovation progress is average, it is also solving its core performance problems through module distribution and crowdsourcing models. For example, the upcoming Cancun upgrades L2, L3, DA, etc. are all focusing on Ethereum.The network solution technology and application problems are essentially contributing to the Ethereum network and making the network effect stronger and bigger together. This is the core of promoting the development of the crypto industry.
2. The technology of ETH/BTC is perfect
1. From the picture below, it can be seen that the monthly line against the Bitcoin trading team has been receiving needles and threads for several consecutive months, and fell to the support level in December 2022 to form a bottom and again in January 2024.confirm.
2. Another most classic bullish pattern is the cup handle pattern, which is clearly visible in the picture and is being formed.
3. Excited data performance
1. Whales continue to accumulate
Starting from January, whales have been withdrawing coins from exchanges to wallets or participating in pledges. For example, on January 11, whales withdrew 9705 ETH ($22.9 million) from Binance and then deposited funds into Compound, February 1Since the beginning of the day, whales have accumulated a total of 69.5K ETH from Binance, Bybit, Bitfinex and OKX, which is about $179 million. There are many similar whales in recent months, long-term holders of Ethereum, and the totalHolders, the data is growing, you can refer to santiment.
2. Regain the dominance of NFT
In recent times, Ethereum’s NFT transaction data has been increasing, with trading above 130 million US dollars in the past seven days ranking first. The popularity of 404 will further promote the overall activity of Ethereum NFT ecosystem, which is beneficial in the long term.
3. TVL has a record high!
On February 19, the current total locked position of Ethereum Layer2 (TVL) was US$26.21 billion, continuing to hit a record high. You should know that in December 23, it was only US$16 billion!It has risen by dozens of points, and you can check the relevant data on L2BEAT.
Ethereum’s liquid staking data is also growing rapidly again, with ETH $39.177b (US$39.18 billion)
Ethereum re-staking agreement EigenLayer TVL has also exceeded US$7 billion. Since February 5, its TVL has more than tripled from US$2.15 billion, with a monthly increase of 310%. All this shows that the financial ecosystem around Ethereum is getting more and more popular.The more sound and powerful the innovation, the transmission effect is slowly permeating, and is reflected in other network ecology.
4. ETH’s ETF approval, the stars and sea!
The picture below is the institution currently applying for Ethereum ETF!
We can see that there are currently 4 final approval dates in May this year, including Mutoujie’s company, and the others are in June, July and August. The latest asset management company, Franklin Templeton, also reported to the company on February 12The SEC submitted an S-1 application, and the Buy and Buy camp added another general. May ago, the expectation of hyping ETH will become stronger and stronger!At the same time, we will also lead the counterfeit market to launch a wave of magnificent waves!expect!
5. Comparison of growth and ETH deflation
The lowest point of the last bull market was 81.7u to the highest point of 4372u, an increase of 54 times. The lowest point of the last round of Bitcoin was 2800, an increase of 69,000u, an increase of 24.6 times.
According to the law of decreasing room for growth in bull markets,
The bottom of this round of Bitcoin is 15,400. The expected low is calculated as the high point of USD 12w. Bitcoin has increased by 7.7 times.
The bottom of Ethereum is 880. According to the comparison between the last round and Bitcoin, plus the current negative inflation rate of Ethereum (currently, Ethereum has burned more than 20,000 in the past 7 days and more than 80,000 in the past 30 days, burningThe rate begins to accelerate again!
For burning data, you can go to ultrasound. money to view it.
So it is very likely that the price is more than US$12,000!
Brother Monkey knows that most people are using copycats, and I don’t think there is any problem. Although eth increases, copycats will also increase, but Ethereum’s position should be increased a little, after all, it is more certain!Finally, I hope everyone will not miss the next big bull market of Ethereum and high-quality copycats. Maybe this is the last time, a large-scale wealth dividend period, crossing the class, just this year!
