Ethereum’s price is on the rise, offering a potential turnaround opportunity. While Solana makes headlines with ETF launches, Ethereum focuses on recovery from a past slump. Bitwise’s CIO predicts Ethereum hitting $5,000 by year-end and doubling by 2030.

Ethereum’s community was feeling down due to existential questions about its relevance. Lack of growth triggers and scaling issues led to doubts about the network’s value. Many believed Ethereum was overvalued and uninvestable.

Stablecoins are Ethereum’s hidden advantage, with over half of the stablecoin supply running on its blockchain. As traditional finance adopts stablecoins, Ethereum becomes the infrastructure layer. Stablecoin volumes are increasing, generating fees for Ethereum.

Institutions see stablecoins as Ethereum’s killer use case. Ethereum remains the default choice for building blockchain infrastructure. Ethereum’s staying power, liquidity, and regulatory frameworks make it the conservative choice for enterprises entering crypto.

Ethereum treasuries have surged, with 70 companies holding over 6 million Ether worth $23 billion. Companies are bullish on Ethereum’s future potential, driving demand. Achieving $10,000 from $4,000 relies on staking, scaling, stablecoins, and institutional support.

Ethereum’s price rally depends on delivering on key narratives and sustained demand. Doubling in value by 2030 is seen as achievable. Ethereum’s stability, structural advantages, and stablecoin adoption are catalysts for growth. Institutions are turning to Ethereum for both building on the network and investing in the cryptocurrency.

Read more at Yahoo Finance: Ethereum price will go beyond $10,000 by 2030, says Bitwise