Ethereum to $10K? - Why these ETH datasets say YES!

Bhutan is migrating its national digital ID system to Ethereum.

Ethereum [ETH] is leaving exchanges fast, with Binance holdings hitting a multi-month low. This is a classic sign of bullish sentiment as users move to self-custody.

At the same time, Bhutan is making headlines by anchoring its national digital ID system on Ethereum, adding to growing $10K price target speculation.

Heres the rundown.

Ethereum drains off Binance as self-custody trend grows

At press time, Ethereum supply on Binance has dropped to 0.33, a multi-month low, as more investors shift their ETH into self-custody.

Source: CryptoQuant

This implies confidence, since coins moved off exchanges are less likely to be sold. Usually, low exchange supply (especially on major platforms like Binance) has come before strong upward moves, as reduced selling pressure meets demand.

With Ethereum still trading near $4,000, this ongoing withdrawal means many investors are holding for the long term.

One could also see this as a sign of institutional maturity, with more large players opting for decentralized storage and staking solutions.

Bhutan bets on Ethereum as $10K target gains traction

Meanwhile, Ethereum just got a major vote of confidence from an entire country.

Bhutan is officially migrating its National Digital Identity (NDI) system from Polygon [POL] to Ethereum, becoming the first nation to anchor its digital ID infrastructure on the network.

The move is meant to help long-term innovation, with officials calling it a step toward a more open and transparent digital future.

Source: X

Ethereum Foundation President Aya Miyaguchi and co-founder Vitalik Buterin even attended the launch, calling it a “global milestone.”

Source: X

Meanwhile, ETH has flipped multi-year resistance into new support on the charts. Previous rejections at key levels are now showing strength, and if the current breakout trend continues, analysts are eyeing $10,000 as the next major target.

The setup for a big breakout is stronger than ever, and the rally may already be underway.