Ethereum Price Prediction: On-chain stablecoin usage soars 400% to break $58 billion, next target $5,000. Despite a recent pullback in Ethereum, data from Token Terminal shows that its on-chain stablecoin usage skyrocketed 400% in the past 30 days, reaching a historic high of $58.09 billion, with total transaction counts exceeding 12.5 million. On-chain data reveals that this surge in stablecoin activity is primarily driven by whales, with large investors buying low as ETH pulls back to the $3,738 support level. This strong institutional adoption and influx of funds, coupled with a spike in CME futures open interest, has led analysts to widely predict that Ethereum's price will eventually break through the $5,000 mark. Explosive growth in Ethereum's on-chain activity: Institutional adoption accelerates Ethereum's position as the core of the crypto ecosystem, with stablecoin market capitalization exceeding $163 billion, solidifying its status as a mainstream settlement layer. The explosion in stablecoin usage over the past month, especially during market corrections.

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Gate Daily (October 24): Trump pardons Binance founder CZ; Revolut obtains MiCA license; Bitcoin miners' debt surges by 500%
Bitcoin (BTC) has made a strong rebound, currently reported at around $110,500 on October 24. Binance confirmed that its founder CZ has received a pardon from President Trump. Revolut has obtained a MiCA license in Cyprus and will launch encryption services across Europe. Bitcoin miner debt surged by 500%, and miners are intensifying the hashrate competition.
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