ETH rallied closer to $4,500, but muted futures activity and a unique technical setup have traders unsure about whether the rally is sustainable.
Electric Capital and Paradigm helped raise $40 million for the Ethereum advocacy company Etherealize as public firms added billions worth of Ether.
BitMine chair Tom Lee said he still expects Ether to eventually reach $60,000, as his firm bought another $65 million in ETH on Thursday.
Ethereum’s staking entry queue reached its highest level since 2023 as institutional demand and confidence surged, while the exit queue is declining.
Sharplink Gaming’s Joseph Chalom says latecomers to the Ether treasury space may try to compensate, which will only present more risk.
Ether trades slightly above $4,300 as derivatives data reflect caution, but network growth and ETH treasury growth could change the trend.
The roughly $43-million Ether sale will be one of the latest actions by the foundation following the rollout of its treasury policy in June.
BitMine Immersion Technologies, the world’s largest corporate Ether holder, said it holds 1.87 million ETH — more than 1.5% of the total supply.
Hong Kong-listed Yunfeng Financial purchased $44 million of ETH to support its expansion into Web3, real-world assets and tokenized finance.
Whale inflows into Ethereum are getting bigger as investors take profits from Bitcoin and rotate capital into Ether, raising hopes of new all-time highs soon.