Ethereum Soars as FG Nexus Aims for a Massive $5 Billion Expansion

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.