Ethereum Co-Founder Predicts Major ETH Price Movement – Bullish or Bearish?

Eric Conner, a former core Ethereum developer, has identified three critical factors that could drive a significant surge in ETH's price. In his recent analysis, Conner highlighted the growing stablecoin transaction volume, substantial inflows into spot Ethereum ETFs, and declining ETH reserves on centralized exchanges as key bullish indicators.

Conner noted that stablecoin transfer volume has now reached levels comparable to Visa's transaction network, marking 21 consecutive months of growth. This increasing demand for Ethereum's block space is creating a sustainable on-chain economic engine for ETH, he explained.

Recent data shows $1.17 billion flowed into spot Ethereum ETFs in June, with asset managers anticipating this figure to multiply in 2025's second half. Institutional interest continues to strengthen as exchange-held ETH reserves plummeted to just 9 million – the lowest level since Ethereum's 2015 launch, creating upward price pressure.

While ETH has traded sideways between $2,400-$2,600 for weeks, Conner cautions that such low volatility periods often precede dramatic price movements. His analysis suggests a decisive breakout above $2,600 could trigger a rapid, significant upward trajectory.

Disclaimer: This analysis does not constitute investment advice.