Key findings
- Increased activity on the Ethereum blockchain and the accumulation of assets in corporate treasuries are supporting the network’s stability despite pressure from validators waiting to exit.
- Growing interest in the Ethereum ETF and declining volumes on exchanges are creating a bullish backdrop that could set the ETH price up for a breakout.
- While ETH failed to sustain its rise above $4,700 in the short term, further potential remains, especially with active network usage and growing corporate demand.
Network activity, fees, and increasing load
Over the past week, Ethereum network fees have increased by approximately 35%, and the number of active addresses has grown by 10%. This further confirms that the network is being used more intensively—every transaction must be paid for in ETH, which creates demand and underpins its fundamental value.
Increasing fees also increase validator revenue, strengthen network security, and facilitate the automatic burning of a portion of coins, reducing the overall supply.
The queue for exiting staking and its impact on the market
According to validatorqueue.com, the exit queue for ETH is at a record level—approximately 2.67 million ETH—with an expected wait time of up to 46 days. While not everyone who exits immediately sells, the long queue has some investors concerned.
However, corporate holders are actively accumulating ETH: over the past 30 days, deposits have reached 877,800 ETH, equivalent to approximately $4 billion. Major players—companies like Bitming Immersion Tech, SharpLink Gaming, and The Ether Machine—are already either staking or preparing to do so.
The combination of corporate hoarding and the decline in ETH available for sale on exchanges (2.69 million ETH have been withdrawn from exchanges in two months) is increasing the “supply constraint” and could contribute to price increases.
The Role of ETFs and Institutional Demand
Assets pledged in Ethereum spot ETFs have reached ~$24.7 billion, making these instruments attractive to institutional investors looking to participate in the ETH market through regulated structures.
Over the past day, net inflows totaled approximately $213 million, indicating continued interest. Meanwhile, ETH balances on exchanges have fallen to historically low levels, limiting liquidity and exacerbating the hoarding effect.
Under these conditions, reaching the $5,000 mark seems increasingly likely, provided the trend of capital inflow continues and validator output stabilizes.
Possible risks and scenarios
- The current high queue of exits from staking may cause temporary corrections or pressure on the price until normalization.
- Activity and demand often rise in waves; if interest weakens, the momentum may shift to consolidation.
- External macroeconomic factors, regulatory news, or instability in related markets can change the mood of participants.
Conclusion:
Increased activity on the Ethereum network, corporate accumulation of ETH, and growing institutional interest through ETFs are creating favorable conditions for reaching the $5,000 mark. However, short-term fluctuations may occur on the way to this level due to exit queues and external market factors.
