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Ethereum has surged 50% in just two weeks, rekindling investor interest after a relatively quiet period. Nevertheless, at a price of $3730, it is still 23% lower than its all-time high in November 2021. The price targets indicated now could potentially double its current value. Is the best time for the second largest cryptocurrency still ahead? Currently, all data suggests that the rebound may have just begun.

Despite a recent rise, ETH seems to lag behind the broader market sentiment. Currently, over 34 million ETH have been staked, accounting for 28% of the total supply of 12.07 million. This means that capital is locked up for the long term, reducing the circulating supply, and indicates strong investor confidence. With 28% of ETH staked, exchange balances have fallen to their lowest level since 2016, and new buyer inflows are accelerating.