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    Ether experiences significant growth, rising 11.6% amid surging ETF activity and increasing total value locked

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    Ether has seen a resurgence, gaining 11.6% in value between December 10th and 12th following heavy trading in Ether Exchange-Traded Funds (ETFs). The amount of value held in Ether – known as the “Total Value Locked” – rose to $78 billion, a 31% increase from last month, due to notable deposits in protocols such as AAVE and EigenLayer. Ethereum’s trade volumes also rose by 21% on December 12th, reaching $24.3 billion. Bitwise predicts that Ether could reach a price of $7,000 thanks to the high interest in ETFs and surge in stablecoins and tokenised projects.

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    Ether made a strong comeback, increasing its value 11.6% between December 10th and 12th. Apparently, there was a good deal of trading in some Ether Exchange-Traded Funds (ETFs) sparking renewed faith in the cryptocurrency.

    From December 9th to 11th, ETH ETFs saw a rush of attention – about $557 million worth, which definitely fueled a quick upturn in Ether’s price. A lot of investors apparently saw that as a good time to buy in at a dip. They likely believe that Ethereum is going to stay a big player in the crypto world, and that more DApps (decentralized applications) will be getting on board.

    Now, let’s talk about something called “Total Value Locked” (TVL) in the Ethereum network. Basically, it’s how much value is being held in the form of Ether. On December 12th, this shot up to $78 billion, growing a whopping 31% from $59.3 billion a month ago. The reason? A pile of new deposits in protocols like AAVE, EigenLayer, Athena, Binance Staking, Spark, and Pendle. Compare that to BNB Chain that only grew 10% and Tron that saw an 18% increase. Certainly makes Ethereum the big kid on the block!

    As if that’s not enough, the Ethereum network’s one-week trade volumes grew by 21% on December 12th, hitting $24.3 billion. Ethereum’s layer-2 blockchains (the ones with extremely low transaction fees) together had a greater turnover than Solana, another prominent player in the blockchain space. In fact, when it comes to DApp volumes, Ethereum has a strong hold with 47% of the market share.

    Bitwise, a top-ranking cryptocurrency ETF provider, thinks ETH could fetch a price tag of $7,000. They’re banking on more and more ETF interest, rapid growth in Ethereum’s layer-2 blockchains, and a surge in stablecoins and tokenized projects. Recently, World Liberty Financial, a decentralized finance project got bold and swapped USDC stablecoin for Ether, upping its Ether stocks to over $55 million. This move certainly got some investors excited, nudging up ETH prices.

    Ether’s price has gone up by 65% in the last three months. The strength of buying support shown on December 10th when it dipped below $3,550 is an encouraging sign for future price bumps. It’s hard to say if this wave of excitement will push the ETH price beyond $4,500, but what we do know is that the activities on the Ethereum network and the growing interest among institutions definitely help cement Ethereum’s position as a leader in the DApp space.

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