🚀 Ethereum Targets $3,000 as Regulatory Green Lights and ETF Frenzy Fuel Rally

Wall Street's latest love affair with crypto just got hotter—Ethereum's gunning for $3,000 as regulators drop hurdles and ETF issuers scramble for exposure. Forget 'wait and see'—smart money's already piling in.

The Backstory: SEC chair's 'accidental' pro-crypto tweet (later 'hacked,' obviously) sparked the rally—but fundamentals are doing the heavy lifting. Institutional inflows hit $1.2B this week alone.

Why It Matters: ETH’s flirting with its 2024 ATH while Bitcoin stalls. Traders are betting the Merge 2.0 upgrades will flip ETH/BTC dominance by Q3.

The Catch: Banks are still selling 'blockchain solutions' PowerPoints at $500/hour while actual blockchain solutions print gains. Stay greedy.

Staking upgrades and technical metrics

According to the note, validators installed a batch of performance patches in May that cut reward variance and lowered hardware overhead. 

MEXC Research said the improvements “bolster network security and throughput, especially for custodial staking services that target pension funds and insurers.” 

Applications running atop Ethereum have collected more than $26 billion in cumulative user fees since 2015, led by Tether’s USDT stablecoin transfers, Uniswap trading volume, and Circle’s USDC flows. 

Developers continue to launch products despite macro uncertainty, which the desk described as evidence of “durable revenue generation.”

Rumors that a spot solana ETF may list with embedded staking sparked questions about whether regulators would allow identical features for Ethereum funds.

MEXC Research argued that an eventual staking component “only strengthens Ethereum’s fundamentals” but kept its price projection unchanged.

Key levels and risk factors

MEXC Research said wallet data shows “risk appetite slowly returning,” with Leveraged perpetual positions climbing but still well below last year’s peaks.

The note predicts that ETH will reach $3,000 in the coming weeks and projects follow-through toward $3,300 if momentum holds and global liquidity remains accommodative. 

Notably, traders should watch $2,440 as the first line of support. A sustained break could expose $2,350 and ultimately $2,100 if a geopolitical shock revives cross-asset selling.