- Ethereum surpasses 148 million holders, reflecting strong long-term confidence and growing global adoption.
- ETH’s market cap hits $298.37B; 24-hour volume jumps 37.67% to $17.19 billion.
- ETH/USD eyes a $2,750–$2,850 breakout; rejection may drop the price toward the $2,110 support zone.
The cryptocurrency market hints at a potential upswing, with on-chain metrics pointing to a surge in user adoption. According to blockchain analytics firm Santiment, Ethereum holders have now exceeded 148 million a milestone that reflects growing long-term confidence and strengthens the broader bullish outlook for digital assets.
Bitcoin maintains a strong presence with 55.39 million holders, while Dogecoin, popular in meme culture, holds 7.97 million wallets. Stablecoins Tether (USDT) and USD Coin (USDC) exhibit robust adoption, with 7.79 million and 3.30 million holders respectively. Ripple’s XRP and Cardano report 6.53 million and 4.49 million holders, reinforcing diverse crypto interests.
Crypto ETF Growth Could Boost Market Liquidity
Ethereum’s growing holder base signals a strong HODL mentality, potentially limiting short-term sell-offs. ETH/USD recently broke above $3,800 resistance on the 4-hour chart, supported by a 20% rise in on-chain transactions over the past week. Bitcoin tests $71,500 resistance, with volume reaching $30 billion, suggesting a breakout could push BTC to $73,000.
Bitcoin trades around $104,200, up 2.3% as of June 7, 2025, and Dogecoin trades near $0.16, with a 24-hour volume of around $1.2 billion. Increasing holders could sustain meme coin momentum if retail sentiment aligns with broader risk-on trends in stock markets. The Nasdaq’s 0.8% gain reinforces this tech-driven market strength, indirectly benefiting speculative altcoins like DOGE.
The interest of institutions in crypto ETFs is indeed large enough to be discussed, this is visible from the recent application for Bitcoin spot ETFs and the Ether. Besides having a direct impact on the ease of trading and exchange rates investors can expect capital inflows as a result of this move.
Ethereum Price Action and Market Sentiment
Ethereum’s market cap climbed to $298.37 billion, closely matching its fully diluted valuation, suggesting minimal inflationary pressure. ETH’s 24-hour trading volume surged 37.67% to $17.19 billion, reflecting heightened investor activity. Futures liquidations on Friday totaled $46.74 million, split between $25.06 million in longs and $21.68 million in shorts, signaling volatility.
On Thursday, ETH fell more than 7% and went below the lower boundary of the ascending wedge, but later rose to around $2,400. It has now come up to the lower boundary of the wedge and is testing the $2,530 resistance. A rejection here will drag it back down to the $2,400 support level. The further failure may smash the token deep down to $2,260–$2,110.
Breaking the $2,750–$2,850 resistance on the upside might be enough for a stronger rally. The technical factors link less severe bearish forces to the potential bullish reformation of Ethereum’s corridor pricing on its side. The RSI climbed above neutral after a brief dip, and the Stochastic Oscillator recovered from oversold levels, hinting at a possible bullish turnaround for Ethereum’s near-term price trend.
Read More: Ethereum Nears Breakout Point, Eyes $3,300 After Bullish Surge