Variant Fund Investors: 10 Signs That Ethereum is About to Reach $10,000

This article is from Spencer Noon, an investor at the well-known investment firm Variant Fund, and is compiled by Chain Catcher.

1: Ethereum dwarfs every other blockchain in terms of fees paid, with current annualized revenue approaching $7 billion, confirming the immense demand for Ethereum's block space.

2: Ethereum settles $30.5 billion in value daily, far surpassing Bitcoin and all other blockchains, while PayPal settles about $2.5 billion daily.

3: Ethereum has 625,000 active addresses daily (over a 90-day period), a number that has been climbing and is at an all-time high.

4: DeFi currently has $65 billion in assets locked, with 16 different projects having over $1 billion in TVL, indicating that Ethereum is a level of financial technology suitable for institutions.

5: Ethereum has a stablecoin supply worth $50 billion, with 500,000 unique outgoing addresses daily and $20 billion in value exchanged daily, marking a sign of explosive product-market fit.

6: Monthly DEX trading volume exceeds $60 billion, growing approximately 60 times year-over-year, proving that DeFi liquidity can now rival CeFi.

7: Over 200,000 BTC (approximately $11.2 billion) now appear on Ethereum in various forms, indicating that ETH is becoming an economic vacuum for all assets, including Bitcoin.

8: NFT sales on Ethereum have now surpassed $600 million, with 13 items selling for over $1 million each—this indicates that new categories of applications are also emerging on Ethereum.

9: Currently, there are about 1 million transactions daily, with many DeFi blue-chip projects involved, including Aave, which has over $2 billion in liquidity, refuting the claim that "Ethereum cannot scale."

10: Ultimately, in less than three months, the EIP-1559 upgrade will be activated, which could lead to the consumption of hundreds of millions of dollars worth of ETH annually, serving as a massive catalyst for capturing ETH value.