Ethereum (ETH) is significantly drawing attention from both institutional investors and everyday users, as on-chain data shows rising participation across staking, treasury accumulation, and wallet creation.
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Similarly, price forecasts remain mixed. While major banks and market analysts see room for further upside, others caution that macro conditions, ETF flows, and technical resistance levels could limit near-term gains.
With ETH trading near the $3,300–$3,400 range in mid-January, the network’s foundation appears stronger than in previous quarters. Yet the question remains whether these developments will translate into a sustained price rally.
ETH's price trends upwards on the daily chart. Source: ETHUSD on Tradingview
Ethereum Staking and Treasury Demand Signal Long-Term Commitment
Ethereum staking has reached a record value of about $118 billion, with roughly 35.8 million ETH locked on the Beacon Chain. This represents close to 30% of the circulating supply, suggesting a growing preference among holders to earn yield rather than sell.
Network participation is also increasing. Active validators now exceed 976,000, while around 2.3 million ETH is queued for future staking. Lido Finance remains the largest staking provider, holding roughly a quarter of all staked ETH.
Corporate treasury activity has added to this trend. BitMine Immersion, one of the largest Ethereum treasury firms, recently staked an additional 154,304 ETH, worth roughly $514 million at current prices. The company’s total ETH holdings now exceed 4 million tokens.
Institutional Forecasts Point to Higher Targets
Several financial institutions have revised their outlook for Ethereum in 2026. Standard Chartered has recently raised its year-end ETH price target to $7,500, up from a previous estimate of $4,000. The bank cited growing demand from corporate treasuries, spot ETH investment products, and expectations for network fee growth.
According to analysts, treasury firms and ETF-related flows have absorbed close to 4% of Ethereum’s circulating supply since mid-2025. Treasury buyers alone reportedly acquired around 2.3 million ETH in just over two months, a pace the bank compares favorably with past Bitcoin accumulation phases.
Standard Chartered also suggested Ethereum could outperform Bitcoin if real-world usage, stablecoin activity, and tokenized asset adoption continue to expand on its network. Longer-term scenarios project costs of up to $25,000 by 2028 and $40,000 by 2030, although these projections rely on optimistic assumptions.
User Growth Rises, But ETH Price Faces Technical Limits
Ethereum’s user base is also expanding. In early January, the network recorded nearly 393,600 new wallet addresses in a single day, with a weekly average of over 327,000 new addresses.
Analysts link this surge to the Fusaka protocol upgrade, which reduced data costs for Layer-2 networks, as well as record stablecoin transfer volumes of roughly $8 trillion in late 2025.
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Despite stronger fundamentals, price action remains cautious. ETH recently tested the $3,400 resistance level, with key hurdles near $3,550 and $3,650 based on long-term moving averages. Support is forming around $3,000, and a failure to hold that level could expose ETH to further downside.
Cover image from ChatGPT, ETHUSD chart from Tradingview
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