Is $ETH ready for a crazy surge?
To conclude: Currently, there is potential for a meme-like surge driven by funds, but it relies on continuous incremental funding and narrative reshaping.
The conditions for an increase are in a rapid accumulation phase:
- ETF funding channels are opening up
- Regulatory pricing is gradually being established
- High staking/re-staking leads to a tightening of circulating chips.
Potential downward pressure is also on the rise:
- Burning rate is decreasing
- Net supply is re-inflating
- L2 diversion leads to L1 fees and narrative dilution.
Here’s a detailed interpretation:
First, $ETH currently has a certain incremental demand:
- Daily inflows of $700 million into U.S. spot Ethereum ETFs, with cumulative inflows in the tens of billions, show a trend of institutions and retail investors concentrating their positions through compliant channels.
- Several listed companies are migrating or adding $ETH positions from Bitcoin reserves, with most CT bloggers comparing $ETH to the early $BTC corporate allocation craze.
- The U.S. Congress is advancing several pieces of crypto legislation, boosting the risk premium across the entire digital asset category, facilitating institutional allocation.
Secondly, there is a supply-side tightening and a decrease in circulation:
- The staking ratio across the network has reached a historical high (around 28%-29%+), with circulating sellable chips continuously declining.
- The re-staking ecosystem (EigenLayer @eigenlayer, etc.) is increasing TVL, absorbing additional circulating chips and adding derivative yields, enhancing holding willingness.
- The corporate treasury model (BitMine, SharpLink, and others shifting to $ETH surplus allocation) further locks in liquidity.
The only current flaw is that the ETH L1 ecosystem narrative is failing, with 85% of ecological transactions having migrated to L2 (Base taking the majority; L2 fees are profitable).
Moreover, the success of L2 means scaled adoption, taking most of the traffic away from the L1 fee pool, leading to a decrease in L1 burning rate, resulting in net supply re-inflation/annual dilution rebound, and the deflationary effect of EIP-1559 cannot be automatically maintained.
This means that the upward drive for ETH is similar to BTC, supported purely by short-term capital injections. If the funding cannot be sustained, $ETH will definitely encounter resistance, with the biggest catalyst being the staking ETF.
If the staking ETF is approved, ETH is highly likely to surge to $4,000-$5,000 in the short term.
飞凡
$ETH continues to break through, and the project team is making efforts,
Let's summarize which altcoins might have positive price movements in the past few days.
1. $COIN / $AERO / $DEGEN and other Base ecosystem tokens, Base is currently the most active L2, and the official team has announced that there will be significant news released.
2. $MPL, Maple plans to launch a permissioned lending pool at Converge,
providing collateralized/structured credit channels for RWA, aiming to extend institutional-level credit to a regulated environment on-chain;
Converge has officially named the use cases for Maple's launch (including permissioned pools, RWA credit, and institutional yield access).
3. $SKY, Sky Ecosystem has partnered with Alchemy Pay, allowing users to purchase SKY and the stablecoin USDS directly using local payment methods like Visa and Apple Pay.
4. $POL, the Polygon Heimdall mainnet has gone live, achieving ~5s rapid finality (previously about 1-2 minutes) and enhancing bridge security and network stability; significant optimizations for payment, RWA settlement, and centralized exchange deposit/withdrawal experiences.
5. $UNI, on July 15, the Uniswap Foundation officially submitted the "Protocol Governance Upgrade" proposal draft, which will allocate a certain percentage of the 0.05% base fee of the protocol to UNI holders.
6. $TIA, the Celestia community proposal TIA-19 suggests reducing the annual inflation rate from 6% to 2.5%, along with a redistribution of on-chain staking rewards.
Hey Degens,
If you run out of tip budget, we’ll occasionally send you reminders to top up. Tap to approve more DEGEN when you’re ready!
And if you're new to this, here's our mini app on @farcaster_xyz, check it out!
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If Unisat supports Brc-20
If Binance supports Brc-20
If Hyperliquid supports Brc-20
If the Degens support Brc-20
Who can stop us?
No one.
Truly no one.
The current price of Degen is $0.0042930. Over the last 24 hours, Degen has decreased by -7.54%. It currently has a circulating supply of 23,026,896,051 DEGEN and a maximum supply of 36,965,935,954 DEGEN, giving it a fully diluted market cap of $98.60M. At present, Degen holds the 110 position in market cap rankings. The Degen/USD price is updated in real-time.
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DEGEN is a reward token for users of Farcaster, utilizing a unique tip allowance mechanism to empower the community. It also powers the Degen chain, one of the pioneering L3s launched on Base, offering a platform for building and using Degen apps.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 5.3K new posts about Degen, driven by 1.4K contributors, and total online engagement reached 197K social interactions. The sentiment score for Degen currently stands at 77%. Compared to all cryptocurrencies, post volume for Degen currently ranks at 2811. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Degen.
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77%
Volume rank
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Posts
5,281
Interactions
185,149
Sentiment
79%
Degen FAQ
How much is 1 Degen worth today?
Currently, one Degen is worth $0.0042930. For answers and insight into Degen's price action, you're in the right place. Explore the latest Degen charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Degen, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Degen have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
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The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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