Ethereum's Bull Run Is Coming?

Editor's Note: This article comes fromCrypto Valley Live (ID: cryptovalley)Editor's Note: This article comes from

Crypto Valley Live (ID: cryptovalley)

, Author: Slamak Masnavi, translation: Ziming, editor: Ziming, reprinted with authorization from Odaily.

Spencer Noon, an investor at digital currency-focused investment firm DTC Capital, took to Twitter on Tuesday to explain why he thinks "we're headed for a new ETH bull market."

1. The number of active Ethereum addresses increased

“Ethereum now has 380,000 daily active addresses (90-day moving average window), which has not been seen in two years.”

       2. Gas demand increases

"Today, the gas usage on the Ethereum platform is 60 billion per day, and the demand for Ethereum block space has never been so high."

3. ETH is a necessary asset to maintain the Ethereum network

“Ethereum is a market that maintains network stability by paying transaction fees in addition to BTC. ETH fees have reached a market value of $426,000 in the past 24 hours, which is 237 times higher than the latter.”

4. Increased market demand for stablecoins (and most of them are stablecoins issued on Ethereum)

"Stablecoins with a market value of 7 billion US dollars have been issued on Ethereum, of which 4 billion are due to the issuance of stablecoins in the past 3 months, which shows the strong demand for digital dollars in the market"

5. DeFi users increase

"There are now 178,000 DeFi users on the network (90,000 in the first 5 months), which shows that the largest use case of Ethereum is starting to go parabolic?"

6. The amount of USD locked in DeFi projects is increasing

"At present, there are 7 DeFi projects with a market value of more than 30 million U.S. dollars in AUM (6 last year), which shows that the Ethereum ecosystem is maturing at an extremely fast speed."

7. The USD scale locked by ERC-20 WBTC increases

“WBTC has systematically created a market cap of $25 million since May 1st, which shows that Ethereum has strong appeal for all assets, starting with BTC.”

8. The popularity of ETHE (Grayscale Investment's Ethereum Trust) increases

“One million shares of ETHE have been issued in the past three weeks, which shows that institutional investors are either investing in ETH or locking their assets in Ethereum at a rate of $1 million per day.”

9. ETH outflows from centralized exchanges are greater than inflows after Black Thursday

"ETH showed large-scale net outflows from exchanges after Black Thursday, that is, 62% of the days showed net outflows, which shows that users are holding and accumulating ETH"