Ethereum continues to attract investor and trader interest due to price increases and shifts in institutional preferences.
Sharp Price Rise for Ethereum
Ethereum (ETH/USD) broke through key resistance near $3,200, reaching a high of $3,570, reflecting a 12.20% gain from recent lows. This surge was preceded by a strong rebound from the $2,200 support level.
BlackRock's Investments in Ethereum
Data from Arkham Intelligence shows that BlackRock has increased its investment in Ethereum, accumulating over $547 million in ETH, surpassing its $497 million Bitcoin investments. This ratio indicates a shift in institutional preferences towards ETH.
Surge in Ethereum Futures Market
Open interest in Ethereum futures has surpassed $50 billion, the highest level since mid-2022. This surge aligns with ETH's recent push above the $4,000 threshold, although it is currently trading at $3,567.42.
Current trends in the Ethereum market demonstrate an increase in interest from both institutional investors and retail traders, which may support further price growth.
