The article argues that Ethereum (ETH) will experience significant growth in the coming years. The first reason is the decrease in the circulation of ETH, which reduces the potential supply and increases the price. This is due to ETH being locked in decentralized finance (DeFi) protocols and the beacon chain. Additionally, there will be a significant amount of ETH burned from transaction fees. The second reason is the increasing demand from institutions, who can earn high yields through staking ETH. Retail investors also contribute to the demand due to improved user experience and the emergence of layer 2 networks. The third reason is the upcoming catalysts such as the merge to proof of stake and airdrops from layer 2 networks. Finally, the powerful narratives surrounding Ethereum’s scalability and modular architecture are expected to boost adoption and price.