Ethereum continues to attract attention in the crypto market due to its rapid growth and institutional investments.
Impact of Institutional Investments on Ethereum
Ethereum has shown significant growth, surpassing the $3,200 mark. In July alone, institutional wallets purchased over 545,000 ETH worth $1.6 billion. This highlights the confidence major investors have in the long-term value of Ethereum in DeFi and tokenization. Large funds are actively accumulating ETH, as evidenced by substantial inflows into ETFs, reaching $990 million a week.
The Rise of Ethereum Name Service (ENS)
Ethereum Name Service (ENS) has emerged as one of the leading identity protocols on the Ethereum blockchain, showing a growth of over 37% in the last week. Open interest in ENS derivatives has surged by nearly 50%, while supplies on exchanges are hitting all-time lows, indicating reduced selling pressure and stronger conviction among long-term holders. A target price of $30 for ENS is currently being sought.
Remittix: A New Approach to Ethereum Utility
Remittix is quietly rising in popularity among DeFi enthusiasts and major holders. Built on Ethereum, it offers fast, low-cost cryptocurrency-to-fiat transactions, with a mobile wallet set to launch in Q3. Remittix stands out from other tokens by supporting over 40 fiat currencies and 100 crypto assets within one ecosystem.
Ethereum continues to show strong positions in the crypto market, supported by institutional interest and innovation within its ecosystem.
