CryptoQuant CEO: Multiple positive factors may drive up the price of ETH

CryptoQuant founder and CEO Ki Young Ju shared some bullish views on ETH on the X platform:
1. There was no significant selling pressure after the Bybit hack. On-chain data and market data remain neutral. Selling on exchanges takes time, and selling over the counter has little impact on price.
2. Ethereum accounts for 56% of the stablecoin market share. With Trump easing cryptocurrency regulations, more companies are likely to use Ethereum-based stablecoins and smart contracts in 2025.
3. The ETH spot ETF has been approved. The favorable regulation may trigger a "large ETF counterfeit products season", which will drive ETH higher this year.
4. Whales are accumulating: Wallet balances of 10K - 100K ETH have increased by 24% in the past year, mainly from wallets under 1K ETH. Prices are currently close to the cost basis of these accumulated addresses.