Ethereum Price Surges 5.68% as Institutional Firms Accumulate Over 1.35 Million ETH Coins
Main Idea
Ethereum's price surged by 5.68% due to large-scale acquisitions by institutional firms, totaling over 1.35 million ETH, reflecting growing confidence in the cryptocurrency market.
Key Points
1. Ethereum's price increased to $3,682.93, driven by institutional acquisitions, marking its strongest intraday performance in over two weeks.
2. BitMine became the top public holder of Ethereum by acquiring over 833,000 ETH at an average price of $3,491.86, totaling over $2.9 billion in 35 days.
3. Ether Machine purchased $40 million worth of ETH (10,605 coins) at an average price of $3,781, bringing its total holdings to 345,362 ETH.
4. SharpLink Gaming acquired 18,680 ETH valued at $66.6 million, increasing its Ethereum treasury to approximately $1.8 billion, making it the second-largest public holder.
5. Ethereum's DeFi dominance is highlighted by over 90% of real-world assets existing on Ethereum or its Layer 2 networks, with decentralized exchanges processing more than $170 billion in volume.
Description
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