A recent $153 million Ether purchase has garnered notable interest among crypto investors. The trade executed through Galaxy Digital signals increasing trust from major players in Ether.
Institutions Accelerate Ethereum Accumulation Strategy
According to Arkham Intelligence, the receiving address for the transferred funds was recently created, indicating strategic accumulation. Such transactions often precede significant market movements or serve as long-term holdings.
Current Market Situation for Ether
Currently, BlackRock has significantly enhanced its investments in Ether. This week alone, the company purchased $375 million in ETH, raising their total Ether assets to $11.32 billion, equivalent to 2.46% of Ethereum's total supply.
Price Forecast and Support Levels for Ether
The current price of Ether stands at approximately $3,775, reflecting a slight increase of 5%. Meanwhile, the emergence of bullish pressure and support levels at $3,700 and $3,200 could have a significant impact on future price movements.
The increased interest from institutional investors and significant trades highlight positive sentiments surrounding Ether. However, the current resistance at the $4,000 level may be a critical point for future price directional movement.
