- Ethereum has breached US $4k once again and may be on its way to a new all-time high, according to several industry analysts.
- Global crypto exchange Bybit reported that Ethereum is experiencing strong derivatives interest, and they expect the token to surge to new heights as soon as Q1 2025.
- Ethereum has also experienced an uptick in activity, with the network seeing an average of 130k new addresses every day in December.
- Ultimately, several analysts in the industry believe ETH is set to hit a new ATH sooner rather than later.
Riding on the coattails of a push past US $4k (AU $6.28k), the crypto community is starting to salivate over the DeFi king, Ethereum’s potential. In a year dominated by Bitcoin, Ether has slowly chugged along, gaining 80% and adding several spot ETFs of its own.
With momentum flooding to the industry following the election of US President Donald Trump, analysts believe that ETH could snatch the spotlight coming into 2025.
It’s been over three years since Bitcoin’s second-in-command posted a new all-time high – could next quarter finally be Ether’s time to shine?
Related: Analysts Predict Ethereum to Hit Record $5,000 Amid Microsoft Investment Rumours
Ethereum Performing Well in Derivatives As Market Stabilises
According to analysts at crypto exchange Bybit, Ethereum is experiencing strong derivative momentum following markets “deleveraging” in mid-late November. With the crypto scene running hot following Donald Trump’s election, a cool-off was inevitable as investors took profits and reduced exposure to leverage (a trading technique that can amplify gains or losses).
Now that the dust has settled a little, a Bybit report believes traders are re-opening derivatives positions, particularly in Ether. Ultimately, they suggest that the pace of Ethereum may eventually match that of Bitcoin’s – possibly as soon as next quarter.
ETH shows strength in derivative markets as the price catch-up anticipation is in full-swing…[we expect] a new all-time high in Q1 2025.
Bybit representativeEthereum Trailing Bitcoin, But for How Much Longer?
Beyond improved derivative markers, Ethereum is demonstrating several other strong growth metrics that suggest an impending push.
Typically, Ether trails BTC post-halving for no more than eight months – before historically breaking out and actually out-performing Bitcoin.
We are now eight months out from the 2024 halving, so, if history repeats, Ethereum is gearing up for a big January.
Of course, history doesn’t always repeat, and the focus on Bitcoin and regulation under Donald Trump’s leadership may see variations in market performance.
However, that’s not all that’s going well for Ethereum. On-chain activity has surged in December, with the protocol enjoying its best surge of new wallet addresses in 8 months. (That number keeps popping up… doesn’t it…)
So far, an average of approximately 130,200 new addresses have been sighted on Ether’s DeFi network each day in December.
The first step for Ether, though, is to hold above US $4k (AU $6.3k), something it hasn’t yet managed.
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