Crypto News | $4,000 Target to Ethereum by End of July, Says Coin Bureau – Here’s Why

 Popular crypto trader and analyst Coin Bureau is highlighting why he sees Ethereum (ETH) blasting through the $4,000 level by the time July comes to a close.

In a new video, the pseudonymous trader known as Guy starts off by taking note of the massive rise in active addresses on the Ethereum network.

“Recently the Ethereum network demand has been surging. You only need to take a look at the total number of active addresses on the network. As you can see, this is at an all-time high of over 580,000 addresses.”

In his view, the expanding demand for the Ethereum network comes down to three main factors: decentralized finance (DeFi), stablecoins, and NFTs. All three spaces which are growing at exponential rates, predominantly rely on Ethereum’s network more than anything else, creating a massive need for the world’s leading smart contract platform.

The trader also highlights the dwindling supply of Ethereum and the interesting relationship developing between the amount of ETH leaving exchanges and the amount being locked up inside smart contracts.

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