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Ethereum may reach 5,000 USD as network activity and demand rise

Ethereum’s price surge: Ethereum’s price is likely to surpass 5,000 USD, driven by supply constraints and increasing demand. Holdings of spot Ethereum ETFs in the U.S. Soared from 3,095 million ETH to 3.41 million ETH, reflecting revived investor interest.

Growing network activity: The total supply of Ethereum reached 120.44 million ETH, but an increased burn rate from transaction fees is managing supply. Daily transactions ROSE to between 6.5 and 7.5 million, indicating strong usage and demand for Ethereum’s blockchain.

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