Ether eyes $4K as institutions stock pile ETH
Main Idea
Ether (ETH) is trading below $3,800 but could rally towards $4,000 due to growing institutional adoption and strong inflows into spot Ethereum ETFs.
Key Points
1. ETH is down less than 1% and trading below $3,800, with potential to rally towards the $4,000 psychological level.
2. GameStop purchased 8,351 ETH worth $30 million, increasing its digital asset treasury authorization to $250 million.
3. Spot Ethereum ETFs recorded a net inflow of $2.18 billion last week, bringing total AUM to a new all-time high of $15.5 billion.
4. BlackRock’s iShares Ethereum Trust ETF (ETHA) accounted for over 80% of last week’s inflows and roughly 70% of total trading volume.
5. Technical indicators suggest ETH could surge past $3,832, with potential targets at $3,974 and $4,110 if bullish momentum continues.
Description
The cryptocurrency market has stagnated over the last few hours despite recording gains over the weekend. Bitcoin has been trading around the $118k region over the last few days while Ether is still struggling to hit the $4k psychological level. Despite that, institutional appetite for crypto products continues to grow, and this could fuel the next leg up for Ether and other major cryptocurrencies. GameStop purchases over 8k ETH, spot Ether ETF weekly inflow hit $2.18B Ether, the second-largest ...
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