According to Golden Finance, CryptoQuant founder and CEO Ki Young Ju shared some bullish views on ETH on the X platform: 1. There was no obvious selling pressure after the Bybit hacking incident. On-chain data and market data remain neutral. Selling on exchanges takes time, while selling on over-the-counter trading has little impact on prices. 2. Ethereum accounts for 56% of the stablecoin market share. As Trump relaxes cryptocurrency regulations, more companies may use Ethereum-based stablecoins and smart contracts in 2025. 3. ETH spot ETF has been approved. The positive regulatory benefits may trigger a "large ETF copycat season" that will drive ETH upward this year. 4. Giant Whale is accumulating: The wallet balance of 10K–100K ETH has increased by 24% in the past year, mainly from wallets below 1K ETH. The current price is close to the cost basis of these accumulated addresses.