**Ethereum Bull Case: On-Chain Comeback & Price Impact 🚀** Hey fam, Ethereum’s on-chain activity is coming back in a big way, and my research is showing it’s gonna push ETH’s price to new heights this cycle. I’ve been digging into the data, and I’m seeing institutions and Donald Trump stacking ETH like crazy, plus the degen crew is back with some serious energy. Let’s break down what I’ve found, from on-chain signals to the Trump factor, the degen comeback, and how this all impacts price. 📈 #Ethereum #BullRun Holders Are Stacking ETH Like Crazy I’ve been diving into on-chain data lately, and wow, large holders are going hard on ETH. In early March 2025, I found that whales scooped up 120,000 ETH in just three days—that’s 236 million worth! I also noticed some big moves recently, with whales adding over 330,000 ETH in the last two days. This kind of stacking tightens supply on exchanges, and from what I’ve seen, that usually means price spikes are coming as demand kicks in. It’s a huge sign that people are super confident in ETH’s future, and it’s driving a major on-chain comeback. 📊 Institutions—and Trump—Are Stacking Massive ETH Here’s something wild I found: institutions are now grabbing more ETH than BTC, and Donald Trump is right in the mix. My research shows ETH has become the top asset for institutional portfolios, with a big shift toward ETH over BTC lately. It makes sense—Ethereum’s ecosystem is the backbone for DeFi, NFTs, and smart contracts, giving it way more utility than Bitcoin’s store-of-value vibe. Plus, ETH’s proof-of-stake setup makes it more eco-friendly, which big investors seem to love. Then there’s Trump—he’s stacking massive ETH through his World Liberty Financial project. I found that he added tens of millions of dollars worth of ETH in February 2025, and I’ve seen estimates putting his ETH holdings at over 500 million as of late March 2025. I also discovered that Trump’s strategic crypto reserve, which he announced in early March 2025, includes ETH as a core asset, with plans to stockpile it alongside other cryptos. With Trump and institutions buying like this, there’s less ETH out there to grab, and that’s a huge bullish signal for price. 🫰 On-Chain Volume Is Going Nuts The on-chain volume on Ethereum is surging, and my research shows it’s a big deal for what’s coming. I pulled this chart showing DEX volume on Ethereum, and the numbers are wild. In the last 24 hours, I found that DEX volume hit 1.177 billion, with recent spikes going as high as 8 billion USD. This isn’t just a random jump—volume has been climbing steadily, showing more trades, swaps, and overall action on the network and it's surging from the bottom again. This surge means more transactions are happening on-chain, which bumps up the demand for ETH to cover gas fees. I’ve noticed in past cycles that when on-chain volume spikes like this, price increases usually follow because more activity means more ETH gets used and held. This volume explosion is a clear sign that Ethereum’s on-chain ecosystem is roaring back, and it’s gonna push prices up. 💥 The Degen Comeback Is Fueling This Surge Here’s the fun part from my research: a big chunk of this on-chain volume surge is coming from the degen comeback. I’ve found that the recent spikes in DEX volume are tied to a wave of degen activity—think meme token launches and NFT trading frenzies. The degen crew is back in full force, aping into every new project on Ethereum, and it’s lighting up the network with crazy transaction activity. This degen energy is a major driver behind the on-chain revival, and it’s setting the stage for even more growth. 🐸 Degen Activity Is Making a Wild Comeback Let’s talk about the degens—they’re making a huge comeback, and my research shows this is an early signal of a bigger market revival. I’ve found that the degen community is bringing back the same vibes we saw in the 2021 bull run, when NFT trading and meme tokens sent Ethereum’s on-chain activity through the roof. Right now, I’m seeing a resurgence of NFT trading, with collections heating up and driving up transaction counts—just like the frenzy of past cycles. Meme tokens are also making a comeback, with new launches on Ethereum DEXs adding to the 1.177 billion in daily volume I’ve tracked. This degen activity is burning ETH through gas fees like crazy, and I’ve noticed a solid uptick in ETH fees burned in the last 24 hours, which cuts down supply even more. This degen comeback is a clear vibe signal that Ethereum’s on-chain metrics are about to go wild, and it’s gonna amplify the price impact big time. 🔥 Network Activity & Ecosystem Growth It’s not just volume and degens—my research shows other on-chain metrics are looking strong too. I’ve found 361,876 active addresses on Ethereum in the last 24 hours, which tells me users are coming back to the network in droves. I also checked out the DeFi ecosystem, and it’s thriving with 49.937 billion in total value locked (TVL), while NFT activity is also climbing back up. These numbers show Ethereum’s ecosystem is growing again, bringing more users and projects into the mix. More activity means more ETH being used, locked, or held, which cuts down circulating supply and puts upward pressure on price.🌐 Upcoming Pectra Upgrade: A Game-Changer My research into Ethereum’s tech roadmap shows another reason on-chain activity is set to take off. I’ve found that the upcoming Pectra upgrade, expected in April 2025 after a delay due to testing issues, is gonna make Ethereum even more scalable and efficient. This upgrade will improve transaction throughput and lower costs by bringing in new tech like Verkle Trees, making the network more attractive for developers and users. With cheaper and faster transactions, I expect a ton of new projects and users to jump on Ethereum, driving on-chain activity even higher. More usage means more demand for ETH, which is a straight path to price growth. 🛠️ **Price Impact: Connecting the Dots** Let’s tie it all together. The on-chain comeback—holders stacking ETH, institutions and Trump going hard on ETH, surging volume, degens bringing the heat, growing network activity, and the Pectra upgrade—is setting ETH up for a massive price run. More on-chain usage, institutional and Trump buying, and degen frenzy are boosting demand for ETH, while all this stacking tightens supply. It’s simple: higher demand plus lower supply equals price going up. Based on my analysis, ETH at 1,838 today could realistically hit 8,000 in 2025 as this momentum builds. If things keep heating up, I think 10,000 isn’t out of the question. 🚀 Final Thoughts Ethereum’s on-chain activity is making a huge comeback, driven by my findings on holders stacking ETH, institutions and Trump going all-in, surging volume, degens bringing the heat, growing ecosystem usage, and the upcoming Pectra upgrade. This revival, fueled by institutional, Trump, and degen confidence, is gonna have a major impact on ETH’s price, potentially leading this cycle to new highs. I’m super bullish—ETH is ready to dominate. If you like my work please give a RT and give me (@cryptoskullx) a follow.