2025-12-31 08:20:30

Still debating whether the market is a bubble? Just look at Ethereum's Q4 data and you'll understand—8.7 million new smart contracts, a surge over several consecutive quarters. This is not an illusionary concept, but a solid ecosystem expansion.

As a trader who has been monitoring the market for ten years, I dare say that a new major upward wave in the crypto market is already on its way, and Ethereum will become the absolute core engine. Data doesn't lie; just present the facts.

First, let's look at the Layer2 situation. Base single network now accounts for 1/3 of L2 transaction volume, TVL has surged to $6.3 billion, and the entire L2 has already handled 70% of Ethereum transactions, with fees as low as $0.01. Both users and developers are flooding in madly. This is not a small-scale experiment but a large-scale ecosystem migration.

RWA(Tokenization of real-world assets) is even more exaggerated. The scale in 2024 is projected to reach $12.5 billion, soaring to $18.9 billion by the end of 2025. Traditional giants like BlackRock and Goldman Sachs are issuing tokenization funds, and traditional assets are rapidly going on-chain. What does this indicate? It shows that the on-chain world is no longer a niche game but a new track for big capital.

What about the capital flow? The total market cap of stablecoins has broken through 300 billion, USDC on Base has skyrocketed 1000% in 90 days, and Ethereum's TVL has surpassed $95 billion, hitting a new high in 2022. Real money is voting with their investments, which is the most direct signal.

What about the concentration of chips? Big players have increased their ETH holdings by 2 billion, exchange ETH balances have fallen to a new low since 2016, and net long positions in derivatives account for 70%. Whales' chips are more concentrated than gold, indicating that smart money is locking in positions.

The core logic is actually very simple: ecosystem expansion equals value explosion. Don't be fooled by the short-term outflow of 555 million in funds—that's just normal volatility before US regulation is fully implemented. Currently, ETH is holding a "deflationary + ecosystem" double buff, with a total destruction of 4.7 million ETH, and liquidity is truly becoming scarce.

ETH1,08%

USDC-0,03%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes

Reward
12
5
Repost
Share

Comment

0/400

InscriptionGriller

· 5h ago

The data looks good, but I'm tired of the whale lock-up narrative. The last time there was such concentrated capital, it was only after a wave of retail investors got caught that they ran away.

View OriginalReply0

NonFungibleDegen

· 5h ago

ngl ser the whale accumulation numbers are actually making me feel less down bad about my bags rn

Reply0

AirdropHustler

· 5h ago

8.7 million new contracts, Layer2 surges, RWA giants are all here. This time, it's really not hype; the data is right here. Whales are locking in positions; smart money has long seen this and is just waiting for retail investors to catch on. USDC on Base has increased 1000% over 90 days. I want to ask, is there anyone still not optimistic about this wave? TVL has surged to 95 billion, and the ETH on exchanges is almost gone. Isn't this a signal of the main upward trend? Forget about whether it's a bubble or not; big capital is all in. Jumping on the bandwagon is never wrong. RWA has grown from 12.5 billion to 18.9 billion, a faster growth rate than the coin price, unbelievable. With deflation + ecosystem, ETH is indeed becoming scarce now. This logic really can't be beaten.

View OriginalReply0

AirdropHunterWang

· 5h ago

Wow, is the 1000% increase of Base real? How can this logic be so crazy? Even ten years of market experience wouldn't dare to boast like this, it's scary. L2 migration is indeed visible, but can this wave really take off? Whales are already eating up the chips, and retail investors are going to get cut again.

View OriginalReply0

FloorPriceWatcher

· 5h ago

8.7 million new contracts? That must be a huge base. Have you considered comparing it to the same period in previous years? Is it really that exaggerated? Whale lock-up is indeed worth watching, but jumping to conclusions when exchange outflows are low might be a bit hasty. A 1000% surge in Base sounds exciting, but is the demand for stablecoins really that strong, or is it just another round of liquidity gaming? Regarding RWA, BlackRock's actions are indeed notable, but a scale of 18.9 billion is still a drop in the bucket compared to traditional asset markets. I support the deflationary logic, but don't equate ecosystem expansion directly with price increases. It still depends on actual application implementation.

View OriginalReply0