Citigroup predicts Ethereum could end 2025 at around $4,300, slightly below its current $4,515 level. Analysts outlined a bull case of $6,400 and a bear case of $2,200. The bank noted that much of Ethereum’s recent growth is driven by Layer-2 networks, with only about 30% of activity flowing to the main chain. This leaves ETH trading above their model estimates, raising caution over its current valuation despite optimism around scaling solutions.
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