PANews reported on December 12 that according to CryptoQuant analysts, driven by supply and demand dynamics and investor interest, Ethereum prices are expected to break through $5,000. On-chain data shows that daily transaction volume has increased to 6.5 million to 7.5 million in 2024, and decentralized application (dApp) calls have also increased from 5 million in 2023 to 6 million to 7 million this year. At the same time, Ethereum's burning mechanism has led to rising network fees and slowing supply growth, further increasing deflationary pressure on assets.

In addition, U.S.-listed spot Ethereum ETFs (such as BlackRock and Fidelity's products) have attracted a large amount of capital inflows this week, purchasing $500 million worth of Ethereum on Tuesday and Wednesday alone. In the past 13 days, Ethereum ETFs have accumulated a net inflow of $1.95 billion, with total assets reaching $13.18 billion, accounting for 2.86% of Ethereum's market value.

As of today, the price of Ethereum is $3,918, up 6% in the past 24 hours, outperforming Bitcoin (up 2%), and the ETH/BTC ratio has also risen by 2.82%, indicating that the market's bullish sentiment on Ethereum has increased.