Former Ethereum Core Developer: Stablecoin Narrative, ETF Inflows, and Record-Low Centralized Exchange Balances Will Drive an Ethereum Price Surge

According to Jinse Finance, former Ethereum core developer Eric Conner recently outlined three major catalysts for Ethereum’s breakout: First, stablecoins are continuously injecting US dollars into Ethereum, with 21 consecutive months of growth and monthly transaction volumes now rivaling Visa. Stablecoins serve as the on-chain cash engine, driving sustained demand for ETH block space. On another front, spot ETH ETFs saw a net inflow of $1.17 billion in June alone. Fund managers expect the scale of ETH ETFs to multiply several times over by the second half of 2025. Lastly, CEX balances have dropped to just 9 million ETH, the lowest level since 2015. Eric Conner noted that Ethereum has been hovering between $2,400 and $2,600 for several weeks, with reduced trading volume and subtle highs and lows emerging. Extended periods of consolidation often lead to sharp volatility. Therefore, if ETH decisively breaks above $2,600, the move could be rapid and dramatic.