Ethereum is experiencing a significant surge in development and institutional interest. Ethereum Layer 1 (L1) and Layer 2 (L2) development are accelerating, with new applications launching frequently. Core applications such as decentralized finance (DeFi) continue to grow on both L1 and L2 platforms. Big institutions are increasingly building on Ethereum, showcasing its robust ecosystem. Enthusiasts are highly bullish on Ethereum, citing its ability to onboard users at scale and its adherence to core principles. The market cap is currently $780k.