Ethereum Soars as FG Nexus Aims for a Massive $5 Billion Expansion
Main Idea
Ethereum's price surpassed $4,330, marking a significant milestone since the 2021 bull cycle, while FG Nexus announced a $5 billion expansion plan aiming to control 10% of Ethereum's total supply.
Key Points
1. Ethereum (ETH) surpassed $4,330 on August 10, reaching a level not seen since the end of the 2021 bull cycle.
2. FG Nexus plans to file a $5 billion 'shelf registration' with the SEC to acquire Ethereum, aiming to control 10% of its total supply.
3. The funding rate in Ethereum futures markets increased by 320%, rising from 0.0024% on August 7 to 0.012%.
4. Technical indicators suggest a bullish trend, with buyers targeting a breakthrough at $4,600 and support levels at $3,950 and $3,765.
5. At the time of reporting, Ethereum was trading at $4,296, marking a 1.77% rise in the last 24 hours.
Description
FG Nexus files a $5 billion registration to massively invest in Ethereum. Ethereum's value recently soared above $4,330, driven by institutional interest. Continue Reading: Ethereum Soars as FG Nexus Aims for a Massive $5 Billion Expansion The post Ethereum Soars as FG Nexus Aims for a Massive $5 Billion Expansion appeared first on COINTURK NEWS .
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