Ethereum's ecosystem is experiencing notable growth, with the stablecoin supply on the Ethereum blockchain reaching a record high of approximately $136.3 billion, nearly doubling since January 2024. Concurrently, Ethereum staking has hit an all-time high of 29.6%, while ETH reserves on exchanges have dropped to new lows of 18.9 million, indicating a shift from trading activity to long-term holding. Several treasury companies are accumulating substantial amounts of ETH, collectively holding around 240,000 ETH and showing reluctance to sell. Market participants are increasingly viewing ETH as a programmable store of value and a potential new global reserve asset. Despite some opinions suggesting ETH's price may remain around $2,500, others argue that this valuation will not persist, reflecting growing confidence in Ethereum’s role as a decentralized, secure, and reliable platform for the future global financial system.