Ethereum is gaining steam, but is the real rally just getting started?
Mike Nadeau of the DeFi Report joins us to break down Ethereum’s Q2 fundamentals and the 10 most bullish charts from his latest report. We explore why institutional demand may be driving this rally, how ETF flows and treasury holdings are accelerating, and whether ETH remains undervalued despite recent gains. Plus, we dig into the Genius Bill, stablecoin growth, real-world assets, and key onchain metrics that could fuel the next leg of Ethereum’s bull run.
Michael Nadeau & The DeFi Report:
https://x.com/JustDeauIt
https://thedefireport.io
https://dune.com/the_defi_report/the-eth-report
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TIMESTAMPS
0:00 Intro
2:29 Peter Thiel buying a 9.1% stake in Tom Lee’s ETH treasury company
4:03 Stablecoin institutional adoption
9:35 Active loans on ETH & L2s
11:49 Real world assets onchain
17:01 ETH in ETFs, net flows & ETH in treasury
24:22 ETH in smart contracts & balance on CEXs
27:36 MVRV/Fair Value & 200-week moving average
32:55 Market Cap vs. TVL & bull market math
35:32 ETH L2 & Yield Bear vs. Bull case
40:11 Closing & Disclaimers
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