fundraising-title

Author: Kevin Li Compiled by: Deep Tide TechFlow Recently, people's interest in Ethereum has surged again, especially after the emergence of ETH as a reserve asset. Our fundamental analysts have explored the valuation framework of ETH and constructed a compelling long-term bull market forecast. As always, we are happy to connect with you and exchange ideas – please remember to do your own research (DYOR). Let's dive into ETH with our fundamental analyst Kevin Li. Key points Ethereum (ETH) is transitioning from a misunderstood asset to a scarce, programmable reserve asset, providing security and impetus for a rapidly compliant on-chain ecosystem. The adaptive monetary policy of ETH is expected to reduce the inflation rate – even if 100% of ETH is staked, the inflation rate will be at most around 1.5.

Author: Kevin Li, Artemis Researcher, Translated by: Shaw, Golden Finance Abstract Ethereum (ETH) is transforming from a misunderstood asset into a scarce, programmable reserve asset, providing security and incentive for a rapidly institutionalized on-chain ecosystem. The adaptive monetary policy of ETH is expected to see the inflation rate decline— even with 100% of ETH staked, the upper limit is only about 1.52%, which will drop to around 0.89% by the 100th year (2125). This is far lower than the average annual growth rate of the US M2 money supply of 6.36% (1998-2024), and it can even compete with the supply growth of gold. Institution adoption is accelerating, with companies like JPMorgan and BlackRock building on Ethereum, driving sustained demand for ETH to ensure and settle on-chain prices.

Recently, the crypto assets market has seen a significant breakthrough, with the Bitcoin price breaking through the $120,000 mark, attracting the attention of global investors. Behind this historic breakthrough, multiple macroeconomic factors are at play. First, the U.S. government released $5 trillion in liquidity through the BBB bill to raise the debt ceiling, which means more funds may flow into the risk asset market. Meanwhile, the dollar exchange rate continues to decline, having dropped to 7.17, further enhancing Bitcoin's appeal as a hedging tool. The Federal Reserve's monetary policy has also become a key factor. The market expects that there may be two interest rate cuts in the second half of the year, with some views even suggesting that rates could drop to 3%. This loose monetary environment is conducive to the performance of risk assets such as Bitcoin. It is worth noting that the question of Federal Reserve Chairman Powell's future has also added uncertainty to the market. The participation of institutional investors continues to increase. Data shows that the proportion of Bitcoin in US spot ETFs has reached 6.43%, an increase of 0.39% compared to early June; the proportion of Ethereum is 3.77%, an increase of 0.75%. This indicates that institutional funds are accelerating their entry into the Crypto Assets market. In terms of regulation, the stablecoin bill is expected to make more progress in the second half of the year, which will provide a clearer legal framework for the Crypto Assets market. At the same time, the trend of tokenizing US stocks and crypto companies going public in the US is also driving the development of the entire industry. Despite Bitcoin's price reaching a new high, many analysts remain optimistic about its future performance, with predictions suggesting that Bitcoin's price could reach $150,000. However, investors should remain cautious, follow market risks, and view this round of price increase rationally. Overall, changes in the global macroeconomic environment, increased holdings by institutional investors, and the gradual improvement of industry regulations have jointly driven the rise of the Crypto Assets market. The future direction of the market still needs to be observed with regard to the changes in various factors.

Bitcoin has soared past $120,000 per bitcoin for the first time, rocketing after the chief executive of Coinbase issued a huge prediction. Front-run Donald Trump, the White House and Wall Street by subscribing now to Forbes’ CryptoAsset & Blockchain Advisor where you can “uncover blockchain

Wondering Why the Market Is Recovering? Here's the Real Reason: Lately, something major happened that most people aren’t paying enough attention to: the U.S. Congress approved what they call the Big Beautiful Bill (BBB). In short, they suspended the debt ceiling until 2029 and injected $3 trillion into the economy, with estimates pushing that number up to $5 trillion. However, this time might be different. We could get a full-blown market rally before a major event occurs potentially something like a "large-scale cyberattack". That event, in my opinion, would mark the top of the current cycle and signal the beginning of a short-term bear market. But I don’t expect that bear market to last long. Why? Because interest rates will likely drop to near 0% (or 0–1%), which usually signals a market bottom. While crypto may lag a bit behind, that would be a great time to rotate into some high-potential stocks. Back to the Big Beautiful Bill this injection of liquidity likely means the market won’t make new lows, especially not in altcoins. The only scenario where that could change is if a black swan event hits this month. If it doesn't happen then the market likely already bottomed and this is the reversal. That view is supported by several technical indicators, like BTC Dominance and USDT Dominance. However, since the money printing this time won’t be as aggressive as during COVID ($5T vs. $9T), we probably won't see a full altcoin season. Instead, expect what I call a “halfcoin season.” What’s a halfcoin season? It’s when the majority of altcoins still do well rising 5–7x, with some hitting 10–15x but only a few low-cap gems might explode with 20–50x gains. Those are much harder to predict, but the 5–7x range is pretty realistic and much more achievable this cycle. One last thing to keep in mind: narratives. Usually, following market narratives is a mistake especially when they’re based on whale movements or short/long positions. But there’s one exception: liquidity-related news. When you hear about liquidity injections or stimulus, that’s usually a strong bullish signal.