Ethereum 10x? Joseph Lubin reveals two reasons why ETH could be bullish exponentially.

In the past 24 hours, Ethereum has recorded a 1% increase, marking a strong bounce back thanks to a surge in ETF capital flows and growing interest from institutional investors. Notably, BlackRock's iShares Ethereum Trust raised $303.5 million last week, accounting for 93% of the total capital flow into Ethereum ETF funds. BlackRock's held ETH surged to $750 million in June, fueling speculation that in 2025, the SEC may approve ETH staking in ETF funds, thereby adding momentum to the rising demand from large institutions.

Whales Accumulate

A key factor reinforcing Ethereum's price uptrend is the strong accumulation from whale wallets. Over the past two days, more than 82 million USD worth of ETH has been withdrawn from exchanges, reducing selling pressure and tightening supply. On-chain data shows that wallets holding between 1,000 to 10,000 ETH have significantly increased their accumulation, reaching levels not seen since March of this year. Long-term holders now control 75.5% of Ethereum's total supply, a figure that has remained unchanged for over a year.

Technically, Ethereum is showing strong signals for a price increase in the near future. In June, ETH bounced back three times from the support level of 2,500 USD, indicating the stability of this price level. A golden cross is gradually forming, with the 50-day moving average trending to cross above the 200-day moving average, which is typically a positive signal for an upward trend. The RSI is currently at 51, holding a neutral stance, allowing buyers to push the price higher. The important resistance level to watch is in the range of 2,580–2,600 USD. If Ethereum breaks through this level, it could replicate a strong price increase like in early 2024, when the price surpassed 3,500 USD after a similar consolidation period.

ETH price chart 1 day | Source: TradingView## The path towards the 5,000 USD mark

With the strong influx of ETF funds, the accumulation by whales, and technical indicators supporting the upward trend, Ethereum may be gearing up for a major breakout. Analysts are currently paying attention to the possibility that ETH could break the $5,000 mark in the coming weeks. A recent chart from Crypto GEMs suggests that Ethereum may soon experience a powerful breakout, similar to the price pattern seen in early 2024. If history repeats itself, Ethereum could continue to follow this trajectory, with the potential for prices to surpass $5,000, generating excitement among investors.

Ethereum 10x? Joseph Lubin expresses an extremely optimistic viewpoint

The prominence of Ethereum in the cryptocurrency community is further reinforced by the optimistic views of Joseph Lubin, the co-founder of Ethereum. Recently, he made a compelling argument about the future value of ETH.

He compared ETH not just as a digital currency, but as something much greater: a "digital oil" or "energy" driving the decentralized global economy. Although this idea is not new, it recalls the original metaphors about Ethereum, but Lubin argues that now it has become truly valuable and relevant more than ever, especially in the context of the strong development of AI, data infrastructure, and decentralized protocols.

Lubin emphasized two factors that determine the value of Ethereum. The first is the role of Ethereum as a "world computer," providing power for decentralized applications and services, opening up an ecosystem that is not controlled by any intermediaries. The second is a lesser-known but highly promising concept called the "trust commodity model," in which ETH is seen as the most reliable digital trust on the planet, thanks to its deep decentralization. Lubin asserts that both concepts indicate that, in the long run, Ethereum will be worth much more than it is now.

What is special about Lubin's comments is the limitless optimism. He believes that Ethereum can bring about a profound change when AI, cryptocurrencies, and decentralized systems come together, forming a new economy where humans and machines interact. Lubin predicts that Ethereum could support a flow of value that surpasses the current global GDP, creating an unprecedented global impact.

With the strong increase in the popularity of Ethereum, it is not hard to see why the cryptocurrency community pays special attention to Lubin's views. If his analyses are accurate, the value of Ethereum in the long term may far exceed the expectations of most investors, opening up a promising future for ETH.

With strong growth from ETF capital flows, the accumulation of whales, and technical indicators supporting the bullish trend, Ethereum is gradually affirming its position in the cryptocurrency market. Looking long-term, the arguments for Ethereum as a "digital energy" powering the decentralized economy further reinforce confidence in the value of ETH. If this positive trend continues, Ethereum may soon reach higher price milestones and become one of the most valuable digital assets in the future.

Annie