Ethereum, the second-largest cryptocurrency after Bitcoin, reached a major milestone this month when its total value locked (TVL) surpassed $90 billion. The massive increase marked Ethereum’s highest TVL since April 2022, sparking discussion about the possibility of significant price increases in the coming months.
Ethereum TVL grows to $90 billion, setting a new milestone
Data from DeFi TVL aggregator DefiLlama shows that Ethereum’s TVL has surged to over $90 billion, reaching its highest level since April 2022. This unexpected recovery means the altcoin giant could be staging a comeback, further solidifying its position at the forefront of the DeFi ecosystem.
A surge in TVL generally means increased usage and adoption of the Ethereum blockchain ecosystem. It reflects the interest and confidence of institutional and individual investors, highlighting a possible shift in market sentiment from bearish to bullish.
The massive increase in Ethereum TVL has also sparked debate about its potential impact on altcoin price movements. Many analysts speculated that the notable milestone could trigger a recovery in the price of Ethereum, which has been undergoing a prolonged consolidation since falling below $4,000.
Commenting on Ethereum’s $90 billion TVL growth, cryptocurrency analyst “Bitcoin Buddha” said that the top altcoin may be at the beginning of its next bull run, driven by market sentiment and steady bullish momentum. The analyst also warned that not holding ETH could lead to regret and predicted a bullish season for altcoins and an Ethereum bull run by 2025.
Echoing that enthusiasm, a crypto member known as “CR” highlighted that 2025 could be a pivotal year as he expects a possible bull run for Ethereum. ETH’s price is currently trading at $3,368, down more than 15% from its previous highs around $4,000.
While Ethereum’s growth in TVL to $90 billion was a significant development, DefiLlama saw a significant drop and now has a TVL of $69.31 billion. Despite this drop, analysts remain optimistic about Ethereum’s future price outlook.
Analysts Strongly Bullish on Ethereum Price Potential
Various crypto community analysts are extremely bullish on Ethereum’s future prospects, predicting a massive price increase by 2025. According to crypto analyst Mags, Ethereum is gearing up for a massive price increase that could push it to a new all-time high of $7,297.
Another analyst known as “Mr. Crypto” holds a similar bullish sentiment and predicts that Ethereum could see a price surge in the first quarter of 2025. This prediction is based on historical trends that Ethereum usually sees a price increase after Bitcoin’s halving.
Mister Crypto also highlighted the growing interest of whales in Ethereum, and these large investors seem to be preparing for a bullish wave in Ethereum. The analyst reported that Ethereum whales are accumulating tokens exponentially, further strengthening the possibility of a surge in Ethereum prices.
