Is Ethereum’s Quiet Growth a Driver for the Next Bull Market?

ates a growing demand for the token.

Additionally, Ethereum’s open interest, which represents outstanding derivative contracts, has reached a new high of $13 billion, showing a 40% increase in the last four months. Positive funding rates also indicate a positive sentiment among traders.

Similar to Bitcoin, larger investors have been accumulating Ethereum, buying over $1.5 billion worth of ETH in the past three weeks. The scarcity of Ethereum, combined with record staking rates and a lower annual emission rate, sets the stage for a potential price surge.

On-chain metrics for Ethereum are also promising. The ETH MVRV Z-Score suggests a price increase similar to what was seen in Q4 2020. The Ethereum network is growing steadily, with Total Value Locked (TVL), fees, active users, and revenue all on the rise, while the token supply remains stable.

In conclusion, Ethereum seems to be quietly gearing up for a potential bull run. While the future is always uncertain in the cryptocurrency market, these indicators offer hope and optimism to investors in Ethereum for potential gains in the coming months.