ChainThink reports: Former Ethereum core developer Eric Conner recently published an article listing three catalysts for Ethereum's surge: stablecoins continuously injecting USD into Ethereum: growing for 21 consecutive months, with monthly transaction volume now comparable to Visa. Stablecoins are the on-chain cash engine, driving continuous demand for ETH block space. On the other hand, spot ETH ETFs had net inflows of $1.17 billion in June alone. Fund managers expect the scale of ETH ETFs to reach several times this level by the second half of 2025. Finally, CEX balances have dropped to 9 million ETH, the lowest level since 2015. Eric Conner said that Ethereum has been fluctuating between $2,400 and $2,600 for weeks, with reduced trading volume and subtle highs and lows. Long-term consolidation often leads to sharp volatility. Therefore, if ETH breaks through $2,600 firmly, the trend may be rapid and intense.