Recent events in the Ethereum market indicate a growing interest from institutional investors, which could signal a potential bullish rally.
New ETH Acquisitions by Major Players
Corporate companies are actively accumulating Ethereum, including Matrixport, Abraxas Capital, and SharpLink Gaming. This may create favorable conditions for ETH price growth.
Withdrawal Volumes from Exchanges
Matrixport and Abraxas Capital have withdrawn over $230 million worth of ETH from exchanges. For example, an address linked to Matrixport withdrew 40,734 ETH worth $104 million from Binance and OKX in the last 24 hours.
Market Records and Accumulations
The amount of ETH held in wallets not belonging to centralized exchanges reached a record of 22.7465 million ETH as of June 30, a 35.97% increase in one month. This growth highlights the activation of interest from institutional companies.
The increase in institutional accumulation of Ethereum may create favorable conditions for a bullish rally, as noted amidst the growing buying volumes from major players.
