5 key metrics hint at Ethereum's next big bull run

5 key metrics hint at Ethereum's next big bull run – Here's what to watch

1. Ethereum's Market Dominance Continues to Rise
Ethereum (ETH) has been on a steady rise in terms of market dominance, currently standing at over 17%. This is a significant increase from just a few months ago and signals the growing interest and demand for the second largest cryptocurrency by market cap. With the recent surge in Bitcoin's price, many are wondering if Ethereum will follow suit and reach new all-time highs. 2. Increasing Institutional Interest in ETH
Institutional investors have been showing more interest in Ethereum lately, with Grayscale's Ethereum Trust (ETHE) hitting a new all-time high in assets under management. This is a strong indication that institutions are diversifying their portfolios beyond just Bitcoin and are recognizing the potential of Ethereum as a valuable asset. 3. ETH Gas Fees Remain High
One of the major criticisms of Ethereum has been its high gas fees, which have been a barrier for smaller investors and traders. However, this also shows the high demand for using the Ethereum network and its ecosystem of decentralized applications (dApps). As scalability solutions are being developed, such as Ethereum 2.0, we may see a decrease in gas fees and a more efficient network. 4. DeFi Craze Continues to Boost ETH
Decentralized Finance (DeFi) has been the hottest trend in the crypto space this year, with many DeFi tokens seeing massive gains. As most DeFi protocols are built on the Ethereum blockchain, this has led to a surge in demand for ETH and increased its value. As the DeFi market continues to grow, we can expect to see even more demand for ETH. 5. The Rise of ETH-based NFTs
Non-Fungible Tokens (NFTs) have been making headlines recently, with record-breaking sales and mainstream adoption. Most NFTs are built on the Ethereum blockchain, which has further increased the demand for ETH. As more industries and sectors explore the use cases of NFTs, we may see a significant impact on the value of ETH. In conclusion, with a strong market dominance, growing institutional interest, high gas fees indicating high demand, the DeFi craze, and the rise of NFTs, Ethereum has a lot going for it in the near future. Keep an eye on the crypto tickers ETH and #Ethereum for any major developments and potential price movements.

Sentiment Result: Positive

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DeFi lender Moonwell enables USDC lending throughout Ethereum

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