Ethereum Price Gains Momentum as Utility Token Demand Rises Following Solana Meme Coin Fallout
Key Highlights:
- Crypto analyst Michael van de Poppe predicts a shift from Solana (SOL) to Ethereum (ETH) as the “memecoin casino” trend fades.
- Utility tokens like Ethereum are expected to outperform as the market stabilizes and matures.
- ETH exchange reserves hit their lowest levels since 2016, signaling potential upward price movement.
Ethereum’s Price Rebound Amid Market Shifts
Ethereum’s price is showing signs of recovery after Solana’s meme coin hype fades, with the market shifting focus back to utility-driven tokens. Amid broader market consolidation, ETH has gained 1.8%, currently trading at $2,761 with a market cap of $330 billion.
Market analysts believe that as interest in Solana-based meme coins declines, demand for Ethereum-based utility tokens will increase, driving ETH’s price higher. 
Analysts Predict a Strong Ethereum Surge
Renowned crypto analyst Michael van de Poppe has noted growing momentum for Ethereum within the Web3 ecosystem. He forecasts a transition from Solana to Ethereum, as users distance themselves from speculative meme coin trading.
Van de Poppe also pointed out Ethereum’s recent price breakout above a key resistance level, suggesting that this marks the start of an uptrend. However, he expects ETH to rise steadily rather than in sharp spikes, building momentum gradually and reinforcing investor confidence.
Solana Meme Coin Fiasco Triggers Market Rotation
Van de Poppe highlighted the recent turmoil in the Solana meme coin sector, particularly the LIBRA scam, which led to major losses and insider trading concerns. The analyst suggests that many investors are shifting their focus away from high-risk speculative assets and returning to more stable cryptocurrencies like Ethereum.
He likened Solana’s memecoin frenzy to the DeFi boom of 2020, calling it a short-lived “money printer for insiders.” According to him, the market is now returning to reality, with Ethereum positioned to take center stage once again.
Ethereum Exchange Reserves at 8-Year Low—A Bullish Signal?
On-chain data shows that Ethereum’s exchange reserves have dropped to their lowest levels since 2016, as large amounts of ETH are being moved off exchanges. This trend suggests a tightening supply, combined with rising demand, which could fuel Ethereum’s price growth in the medium term. 
Conclusion
As the meme coin frenzy subsides and market sentiment stabilizes, analysts anticipate that Ethereum will benefit from increased adoption and investor confidence. With exchange reserves at historic lows and growing demand for utility-driven tokens, ETH could be on the verge of a significant rally.
