Former Ethereum Core Developer: Stablecoin Narrative, ETF Inflows, CEX Balances at New Lows to Trigger Ethereum Price Explosion

BlockBeats News, July 4th, former Ethereum core developer Eric Conner recently wrote an article listing the three major catalysts for Ethereum's breakout:

Stablecoins continuously injecting dollars into Ethereum: 21 months of continuous growth, with monthly transaction volume now on par with Visa. Stablecoins serve as the on-chain cash engine, driving the sustained demand for ETH block space.

On the other hand, spot ETH ETF saw a net inflow of $1.17 billion just in June. Fund managers expect the size of the ETH ETF in the second half of 2025 to be several times this level.

Finally, CEX balances are down to only 9 million ETH, the lowest level since 2015.

Eric Conner stated that Ethereum has been hovering between $2400 and $2600 for weeks, with decreasing volume and quiet higher lows. Prolonged consolidation periods often lead to sharp movements. Therefore, if ETH firmly breaks above $2600, the trend may be rapid and intense.