Ethereum’s Wild Ride: Can It Really Hit $10,000? 🤔💰

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So, here we are in 2025, and guess what? Ethereum (ETH) is back at it again with a surge in smart contract deployments. I mean, who knew contracts could be so popular? It’s like the blockchain version of a reality show—everyone’s tuning in! 📈

Now, this is a big deal for the Ethereum ecosystem, which, let’s be honest, has had its ups and downs. But hey, it’s like a bad relationship—you keep coming back, hoping it’ll change. So, can Ethereum actually reclaim its all-time high from 2021? I mean, it’s like asking if your ex will finally get their act together. 🤷‍♂️

What Could Drive Ethereum to $10,000? Or Is That Just Wishful Thinking?

According to Etherscan—yes, that’s a thing—the number of smart contracts deployed daily has skyrocketed. It’s like a party where everyone shows up, but the price? Not so much. In Q1 2025, we hit levels not seen since 2021, when ETH was strutting around at over $4,800. Talk about a comeback! 🎉

This surge? Mostly because of the Pectra upgrade. It’s like everyone’s waiting for the next big thing, and when it finally arrives, they’re all over it. But let’s not forget, the price of ETH took a nosedive from $3,700 to $1,400 before doing a little dance back to $2,500. Classic Ethereum! 💃

Despite the price lagging behind, there’s this guy named Ted—yes, Ted—who’s optimistic. He thinks ETH could soon surpass its 2021 highs. I mean, good for him, right? But let’s be real, optimism is great, but it doesn’t pay the bills. 💸

“Ethereum daily contract deployments just hit levels not seen since the 2021 bull run. Builder activity is rising, clear signal of on-chain momentum returning. Price follows fundamentals. ETH to $10,000 this cycle,” Ted predicted. Sure, Ted, and I’m going to win the lottery next week! 🎰

Meanwhile, data from CryptoQuant shows that ETH is flowing into accumulation wallets like it’s going out of style. These wallets belong to the big players, the “whales.” You know, the ones who can afford to buy a yacht with their crypto gains. 🛥️

So, the ETH balance in these wallets is at a new high—nearly 21 million ETH. That’s 17.5% of the circulating supply! It’s like a hoarder’s paradise, but for crypto. In 2025, this upward trend is like a neon sign saying, “Hey, we want ETH!”

Record highs in smart contract deployment and ETH accumulation? Sounds great! But let’s not forget, the crypto market is as volatile as my Aunt Edna at Thanksgiving dinner. 🍗

Past Price Performance Suggests a Short-Term Return to $4,000—Or Not?

Analysts are making bullish predictions based on ETH’s chart patterns. I mean, who doesn’t love a good chart? Analyst Cas Abbe is using the 2-week Gaussian Channel indicator to assess Ethereum’s price trend. Sounds fancy, right? But let’s see if it actually works.

Abbe thinks ETH could hit $4,000 in Q3 2025. I mean, if it does, I’ll throw a party. But until then, I’m not holding my breath. 🎈

“ETH is trying to reclaim the 2W Gaussian Channel. Since 2020, ETH has only reclaimed this channel twice. Both times, it rallied strongly. In 2020, ETH rose from $300 to $4,000. In 2024, it climbed from $2,400 to $4,100. If ETH regains this level again, I’m confident it will reach $4,000 in Q3 2025,” Abbe said. Confidence is great, but I’d like to see some results, please! 🙄

Another thing to consider is ETH’s performance compared to Bitcoin (BTC) in 2025. Data from CoinGlass shows ETH surpassing BTC in Q2. Currently, ETH’s Q2 return is +40%, while BTC’s is +33%. So, ETH is winning, but it’s like winning a race where everyone else tripped over their shoelaces. 🏃‍♂️

But wait! Recent on-chain analysis from BeInCrypto shows that investors are getting cautious. Many are locking in profits after ETH rebounded over 80% since early last month. So, this selling pressure could be a headwind for ETH’s path to higher price levels. It’s like trying to run uphill with a backpack full of bricks! 🧱

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2025-05-26 15:18