More Ethereum users turn to private transactions: Effect on ETH?

According to research by Blocknative, the Ethereum network has witnessed a high increase in private transaction order flow. Data indicated that private transactions consumed more than 50% of total ETH L1 block space based on gas usage. But despite this, private transactions only make up 30% of all transactions within the ETH L1 block.

Prediction: Ethereum Will Hit a $1 Trillion Market Cap in 2025

According to research firm K33 Research, that’s just the tip of the iceberg. By the end of 2024, anywhere from $3.1 billion to $4.8 billion might flow into these spot Ethereum ETFs. That’s solid buying pressure that is going to send the price of Ethereum higher over the short-to-medium term.