Institutional funds drive the arrival of the Ethereum bull run, 10 key indicators show optimistic prospects

Ethereum's popularity has been rising recently, with multiple indicators suggesting that a new bull run may be on the horizon. Institutional capital inflow has become a key driving force behind this surge.

Stablecoins Adopt Continuous Growth

• The supply of stablecoins on Ethereum has reached approximately $140 billion, accounting for the majority of stablecoin sources.
• The Genius Bill is expected to pass this summer, which will further promote the development of stablecoins.
• Large banks and fintech companies are actively laying out their stablecoin business.

Institutional demand has significantly increased

• The net inflow of Ethereum ETF funds has reached $5.7 billion, equivalent to 20% of the Bitcoin inflow scale.
• The amount of Ethereum held by the public treasury has increased by nearly 6000%.
• Peter Thiel purchased 9.1% of Tom Lee's Ethereum treasury company.

On-chain lending and asset scale reach new highs

• Active loans on Ethereum have increased by 98%, reaching an all-time high.
• The on-chain real-world assets ( RWA ) have reached a growth rate of 205% this year, with a total scale of 7.5 billion USD.
• The asset management scale on the Ethereum chain (AUM) has reached a historical high.

Supply dynamics continuously optimized

• In the second quarter, the circulating supply of Ethereum only increased by 0.18%.
• 43% of ETH supply is locked in smart contracts
• The ETH balance on centralized exchanges is at its lowest point in 8 years.

Valuation indicators show there is still room for growth

• The MVRV Z-score is 0.8, below the 5-year historical average of 1.04.
• The price has just broken through the 200-week moving average.
• The market cap to TVL ratio is still within a reasonable range.

Overall, the continuous inflow of institutional funds, the increase in on-chain activities, and the optimization of supply dynamics have laid the foundation for a new bull run for Ethereum. With more real-world assets being brought on-chain, the Ethereum ecosystem is expected to usher in further prosperity.