Ethereum Price Prediction: 1M Wallet Surge and $2,566 Breakout in Sight

Ethereum is having a user adoption boom. According to Santiment, new weekly wallet addresses are between 800,000 to 1 million

Written by: Arslan Butt • Friday, June 20, 2025 • 2 min read

• Last updated: Friday, June 20, 2025

Quick overview

Ethereum is experiencing significant user adoption, with new weekly wallet addresses growing by 33% year over year.
The bipartisan approval of the GENIUS Act in the US Senate is expected to enhance regulatory clarity and potentially boost institutional crypto adoption.
Ethereum dominates the stablecoin market with over $126 billion in value, attracting interest from major companies like Apple and JP Morgan.
Technically, Ethereum is showing bullish signs, with key resistance levels at $2,566 and potential targets of $2,606 and $2,646.

Ethereum is having a user adoption boom. According to Santiment, new weekly wallet addresses are between 800,000 to 1 million—a 33% year over year growth. This is happening while ETH is at $2,556. Network growth doesn’t stop at price fluctuations.

Analysts attribute this to regulatory clarity in the US, especially with the Senate’s bipartisan approval of the GENIUS Act to regulate stablecoins. Passed 68-30, it’s now waiting for the House to decide. Former President Donald Trump has publicly asked for swift passage. If passed, it would be the first federal stablecoin legislation—a event many believe will unlock the next wave of institutional crypto adoption.

Ethereum is the top platform for stablecoins with over $126 billion in value and 50.2% dominance among all blockchains, according to DefiLlama. Giants like Apple, JP Morgan and Amazon are exploring stablecoin infrastructure—most of it on Ethereum.

Regulatory Momentum Supports Long-Term Thesis

The GENIUS Act has brought more attention to crypto policy and the CLARITY Act which focuses on digital asset classification. Ethereum’s strong infrastructure and massive developer community puts it at the center of these discussions.

Industry leaders like Vivek Raman, co-founder of Ethrealize sees this as a turning point. “ETH is going to repricing as regulatory uncertainty lifts,” he said, comparing Ethereum’s utility to oil or internet protocols—essential, scalable and underappreciated by markets during times of policy ambiguity.

ETH Targets $2,606

Technically, Ethereum is setting up bullish. After bouncing off $2,438, ETH has made higher lows and now testing $2,566 (0.382 Fib) just below the June 11 high trendline.

Ethereum Price Chart - Source: Tradingview — Ethereum Price Chart – Source: Tradingview

MACD has flipped bullish with the histogram positive and the MACD line above the signal line. ETH is above the 50-EMA ($2,538) a near term bullish signal. A close above $2,566 could open up $2,606 (0.5 Fib) and $2,646 (0.618 Fib).

Key Levels to Watch:

Support: $2,516 and $2,438* Resistance: $2,566, $2,606, $2,646
Indicators: RSI and Stochastic still neutral—wait for confirmation

Long above $2,566 to $2,606 and $2,646; stop $2,516. Wait for volume and momentum to confirm.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.