Variant Fund partner: 10 signs that ETH is about to reach $10,000

This article comes from the Twitter content of Spencer Noon, an investor in Variant Fund, a well-known investment institution.

1. Ethereum makes every blockchain tangible in terms of the fees it pays. The current annualized revenue is close to 7 billion U.S. dollars, which confirms the huge demand for Ethereum block space.

2. The daily settlement value of Ethereum is 30.5 billion U.S. dollars, far more than Bitcoin and all other blockchains, while the daily settlement value of PayPal is approximately 2.5 billion U.S. dollars.

3. Ethereum has 625,000 active addresses every day (the statistical period is 90 days). This number has been climbing and is at a historical high.

4. DeFi has now locked up $65 billion in assets, and 16 different projects have more than $1 billion in TVL, which shows that Ethereum is an institution-level financial technology.

5. Ethereum has a stablecoin supply worth 50 billion U.S. dollars. There are 500,000 unique outgoing addresses every day, and 20 billion U.S. dollars worth of value is exchanged every day. This is a sign of the fit of explosive products with the market.

DeFi

6. The monthly DEX transaction volume exceeds 60 billion U.S. dollars, an increase of about 60 times year-on-year, which proves that DeFi liquidity can rival CeFi.

7. More than 200,000 BTC (approximately $11.2 billion) are now appearing on Ethereum in many forms, which shows that ETH is becoming an economic vacuum for all assets (including Bitcoin).

8. NFT sales on Ethereum have now exceeded 600 million US dollars, 13 of which have a unit price of more than 1 million US dollars-this indicates that new application categories are also appearing on Ethereum.

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9. At present, about 1 million transactions are performed every day, and many DeFi blue chip projects have participated in them, including Aave, where the liquidity exceeds 2 billion US dollars, which refutes the statement that “Ethereum cannot be scaled”.

10. Eventually, in less than 3 months, the EIP-1559 upgrade will be activated, which may result in the consumption of hundreds of millions of dollars worth of ETH every year, which is a huge catalyst for capturing the value of ETH.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.