The price of ETH is expected to突破 $5000, and three major ecological projects are worth following.

Since April 24, the price of ETH has risen from around $1800 to about $2400, an increase of approximately 30% within a month. As a hundred billion scale asset, ETH provides an opportunity for large funds to achieve high returns in the short term. ETH maintains robust financial data and remains an important infrastructure in the crypto space. In the long term, the price of ETH is expected to break through $5000. In an optimistic scenario, if Bitcoin rises above $300,000, ETH could potentially reach $10,000.

1. ETH Valuation Forecast

An important background for the new valuation of ETH is the trend of the integration of key digital assets with traditional finance. Bitcoin, as the most important digital asset, has begun to be included as a strategic reserve asset by various states in the United States, gradually becoming a scale expansion of dollar assets and a certain degree of strategic alternative. Currently, Bitcoin ranks 6th in the global asset market capitalization, and the U.S. Bitcoin spot ETF currently manages about $118.6 billion in assets, accounting for about 6% of Bitcoin's total market capitalization. The trend of integration between crypto assets and traditional finance is no longer in doubt.

ETH currently remains the most important infrastructure in crypto finance. The total TVL of Ethereum DeFi is approximately $60 billion, accounting for over 53% of the global DeFi market. The market capitalization of stablecoins on Ethereum has reached $124 billion, making up over 50% of the total market capitalization of stablecoins worldwide. The total AUM of Ethereum ETFs is $7.2 billion, with a certain tokenized money market fund's investment scale in the Ethereum ecosystem being approximately $2.7 billion, which accounts for 92% of its total assets.

Based on the following potential factors, it is predicted that the ETH price will reach 5000 dollars in this round of the cycle:

1. The US quantitative tightening is about to end, further interest rate cuts.
2. The new SEC chairman may promote legislation related to tokenization and staking on the ETH chain.
3. ETH Foundation management and roadmap repair, maintain infrastructure innovation
4. The on-chain financial ecosystem continues to grow steadily.

Under a long-term optimistic forecast, ETH is expected to hit 10,000 USD, provided that the following conditions are met:

1. Bitcoin rises to over $300,000.
2. ETH launches eye-catching infrastructure innovations beneficial for DeFi
3. US institutions promote ETH as an important native venue for asset tokenization.
4. The demonstration effect drives global asset tokenization

2. Three ETH ecosystem projects worth following

1. UNI: The largest DEX protocol in the crypto market

A certain DEX is the earliest and largest decentralized exchange protocol in the cryptocurrency market, with a TVL of 4.7 billion USD, daily trading volume exceeding 2 billion USD, and annual revenue reaching 900 million USD. UNI is fully circulated, with about 40% used for governance, currently circulating market value of 4 billion USD, and FDV of 6.6 billion USD.

The tokenomics design of UNI is currently somewhat decoupled from the protocol's revenue, and the protocol's revenue is not automatically distributed to UNI holders. UNI primarily serves as a governance token, allowing holders to control the use of the treasury through voting, thereby indirectly affecting the token price.

Recent major developments of the DEX include the V4 version and expansion chain development, as well as the preliminary activation of the "fee switch" mechanism.

2. AAVE: The largest lending protocol in the crypto market

AAVE is the largest lending protocol in the crypto market, with a TVL of $23 billion and an annual revenue of $450 million. The token is 100% circulating, with a current market value of $3.3 billion.

Similar to UNI, the protocol revenue does not have a direct dividend relationship with AAVE, but is indirectly influenced through governance.

Recent major developments of AAVE include the development of version 4, cross-chain expansion of native stablecoins, and the advancement of RWA business exploration.

3. ENA: The largest synthetic stablecoin protocol in the crypto market

Since 2025, the USDe of a certain synthetic stablecoin protocol has become the third largest dollar-pegged asset in the crypto market, with an issuance scale second only to the two major centralized stablecoins. The annual revenue of the protocol reaches 315 million dollars. The current market capitalization of ENA is 2.18 billion dollars, with an FDV of 5.6 billion dollars.

Recently, the protocol has made progress in multiple business areas:

1. Collaborate with a company to launch a new blockchain network that connects traditional finance and DeFi
2. Plan to launch a stablecoin product aimed at traditional financial institutions.
3. Integrate its stablecoin into a certain instant messaging application
4. Build an ecosystem based on its stablecoin, including perpetual and spot exchanges, as well as on-chain options and structured product protocols.