# @BanklessHQ: 10 bullish ETH charts with Michael Nadeau on Q2 fundamentals

Source: https://x.com/BanklessHQ/status/1945815770115776672
Kiwi News: https://news.kiwistand.com/stories/BanklessHQ-10-bullish-ETH-charts-with-Michael-Nadeau-on-Q2-fundamentals?index=0x6878ec168d64ae2262d14c7a456d93fa7c1f78ccdc76cc2a4fc94dbec2b472d08d215bc2
Submitted by pedrovilela.eth on 2025-07-17 UTC, 1 upvote, 0 comments

## Summary

This is a video interview from Bankless in which Michael Nadeau, known as @JustDeauIt of The DeFi Report, walks through the 10 most bullish Ethereum charts from his Q2 fundamentals report. The discussion covers institutional demand, ETF flows and treasury holdings, and whether ETH remains undervalued after recent gains. Topics also include the Genius Bill, stablecoin growth, real-world assets, and onchain metrics such as active loans and MVRV/fair value. The description notes Peter Thiel buying a 9.1% stake in Tom Lee's ETH treasury company.

## Article

10 Bullish ETH Charts | Michael Nadeau

Ethereum is gaining steam, but is the real rally just getting started?

@JustDeauIt of the DeFi Report joins us to break down Ethereum’s Q2 fundamentals and the 10 most bullish charts from his latest report. We explore why institutional demand may be driving this rally, how ETF flows and treasury holdings are accelerating, and whether ETH remains undervalued despite recent gains. Plus, we dig into the Genius Bill, stablecoin growth, real-world assets, and key onchain metrics that could fuel the next leg of Ethereum’s bull run.

[TIMESTAMPS]

0:00 Intro
2:29 Peter Thiel buying a 9.1% stake in Tom Lee’s ETH treasury company
4:03 Stablecoin institutional adoption
9:35 Active loans on ETH & L2s
11:49 Real world assets onchain
17:01 ETH in ETFs, net flows & ETH in treasury
24:22 ETH in smart contracts & balance on CEXs
27:36 MVRV/Fair Value & 200-week moving average
32:55 Market Cap vs. TVL & bull market math
35:32 ETH L2 & Yield Bear vs. Bull case
40:11 Closing & Disclaimers