Ethereum has recently shown a strong pump momentum, with four consecutive weeks of price increases, breaking through the $3800 mark and setting a new recent high. Behind this rise is the strong performance of market buying power.

The behavior of institutional investors, listed companies, and large holders continuously increasing their holdings of Ether has led to a tightening of market liquidity. It is noteworthy that Evgeny Gaevoy, co-founder of Wintermute, revealed on July 17 that their over-the-counter trading desk can hardly find sellers willing to sell Ether, highlighting the current imbalance between supply and demand in the market.

If this trend of high demand continues, the price of Ethereum is likely to keep rising. Assuming that Ethereum actually reaches the high of $10,000, which groups are most likely to benefit from it?

First of all, large holders and validators of ETH will benefit directly, as the assets in their hands will significantly appreciate in value. Secondly, exchanges, custodians, and over-the-counter trading platforms will also earn considerable fee income from the surge in trading volume.

In addition, issuers and investors of Ethereum spot ETFs will also benefit from it. In the DeFi ecosystem, core sectors such as staking protocols, decentralized exchanges, and lending platforms may welcome new development opportunities.

The adoption rate of Layer 2 solutions may increase accordingly, and the value and trading revenue of related tokens are expected to grow. Infrastructure such as wallet and node service providers, which are the foundation of the ecosystem, will also achieve dual growth in business volume and revenue as the user base expands.

Finally, the NFT market may be positively affected by the rise in Ether prices, and market enthusiasm is expected to further increase.

Overall, the significant rise in Ethereum prices may have widespread effects on the entire cryptocurrency ecosystem, potentially benefiting everyone from individual investors to large institutions, and from infrastructure providers to application developers. However, investors should also be aware that the high volatility of the cryptocurrency market means high risks, so careful consideration is needed when making investment decisions.