Ethereum’s on-chain metrics are stirring up excitement in the Asia markets this morning, as the cryptocurrency demonstrates robust growth and potential for a bullish run. Despite a minor dip of 0.4%, ETH is trading above $2,500—a notable milestone considering its impressive 40% surge over the past month, rivaling the gains of popular memecoins like PEPE and decentralized finance protocols like AAVE. This performance is pushing Ethereum’s Total Value Locked (TVL) past the $60 billion mark, signaling bullish sentiment among investors. As explored in our recent coverage of Ethereum bulls showing interest as traders’ confidence in ETH’s $1.8K level improves, this growing confidence is a testament to Ethereum’s strengthening position in the market.
Ethereum’s Bullish Prospects
March Zheng, co-founder and managing partner at Bizantine Capital, is particularly optimistic about Ethereum’s future. He attributes this bullish outlook to Ethereum’s superior scalability, enhanced by the recent Pectra upgrade, and its lower inflation rate compared to Bitcoin. “Ethereum might be reaching a pivotal moment where its scalability and economic advantages continue to expand,” Zheng noted in a statement to CoinDesk. “It will be a very interesting year.”
Despite this optimism, there are potential headwinds. Polymarket bettors give Ethereum only a 26% chance of surpassing its all-time high of $4,868 from November 2021. However, Ethereum’s institutional appeal is rising, with exchange balances at a seven-year low and inflows into ETH-focused investment products growing, signaling sustained accumulation.
Decentralized AI: A Work in Progress
While Ethereum shows promise, the same can’t be said for decentralized AI tokens, which are facing significant challenges. Despite a market cap exceeding $27 billion, analyst Teng Yang from Chain of Thought highlights critical issues with decentralized compute networks (DCNs), which are essential for decentralized AI’s growth. “The decentralized compute platforms are lagging,” Yang explains, noting their poor performance in Semianalysis’ March 2025 rankings of GPU cloud providers.
Yang points to coordination and technical hurdles as major obstacles. Unlike centralized platforms like AWS, decentralized networks struggle with coordination, predictable job routing, and efficient data transfers. The lack of essential certifications also raises security concerns, leaving systems vulnerable to inconsistencies and latency issues. “Decentralized platforms don’t need to replace AWS,” Yang argues. “But they must be stable and economical to compete meaningfully.”
A Mixed Bag in the Crypto World
Elsewhere in the crypto sphere, the Trump Organization has distanced itself from the “$TRUMP Wallet,” despite promotional materials suggesting a link to former President Donald Trump. This confusion highlights the ongoing complexities of Trump’s involvement in the crypto space.
Meanwhile, Revolut is eyeing an expansion into crypto derivatives, as evidenced by a job listing for a general manager to spearhead this venture. This move follows Revolut’s successful launch of a professional-focused crypto exchange across the UK and EU. For a deeper dive into the competitive landscape, see our analysis of Bitcoin DeFi’s potential to surpass Ethereum and Solana.
Market Movements
In the broader market, Bitcoin has risen 2% to over $105,000, buoyed by MicroStrategy’s ambitious $84 billion Bitcoin acquisition plan. Gold, however, dipped 0.51% as the dollar rebounded and U.S. job openings increased, prompting traders to shift towards riskier assets. Japan’s Nikkei 225 led Asia-Pacific markets higher, spurred by Wall Street’s tech-driven rally.
As the crypto world continues to evolve, Ethereum’s future remains a topic of keen interest. Will it break its previous highs, or will the challenges of decentralized AI cast a shadow over its prospects? Only time will tell.
Source
This article is based on: Asia Morning Briefing: ETH On-Chain Metrics Signal Potential Bull Run Ahead
Further Reading
Deepen your understanding with these related articles:
- Restaking can make DeFi more secure for institutional traders
- Multi-wallet usage up 16%, but AI may address crypto fragmentation gap
- Crypto Coalition Tells SEC Staking Is ‘Essential Good,’ Not a Security
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
