TechFlow news, June 11 — 10x Research posted on social media that Ethereum's price is breaking out of its long-term trading range of $2,500 to $2,700, a move supported by Bitcoin reclaiming the $110,000 level and a surge in leveraged trading.
Over the past month, Ethereum has experienced multiple price increases exceeding 10%, though each was previously followed by a rapid pullback. Improved market sentiment has been primarily driven by several key events: Vitalik’s scalability roadmap released on May 19, the U.S. Securities and Exchange Commission’s (SEC) statement on staking activities on May 29, the Ethereum Foundation’s fiscal policy announcement on June 5, and the SEC’s more lenient stance toward decentralized finance (DeFi) on June 9.
However, 10x Research noted that key metrics such as Ethereum’s network activity, revenue generation, and DeFi user engagement remain weak, indicating that the current rally is driven more by market sentiment than fundamentals. Although Ethereum offers staking yields, these returns still lag behind U.S. Treasury yields.
