Analyst Update – Ethereum
Coin Metrics explores how Digital Asset Treasuries, stablecoin legislation, and Layer-2 scaling are driving Ethereum’s surge above $4,000 and shaping
Analyst Update – Ethereum
Introduction
Coin Metrics explores how Digital Asset Treasuries, stablecoin legislation, and Layer-2 scaling are driving Ethereum’s surge above $4,000 and shaping
Ethereum surged back above $4,000 in September 2025, powered by Digital Asset Treasuries (DATs) accumulating ETH and supportive stablecoin legislation. The big question now: can Ethereum sustain this momentum? We break down how DATs influence token supply and long-term sustainability, what rising mainnet activity means for users, and how continued Layer-2 scaling is setting the stage for Ethereum’s next chapter of growth.
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