Recent events in the Ethereum market have attracted the attention of analysts and investors. Significant purchases of this cryptocurrency indicate a growing interest from institutional players.
Large Purchases of Ethereum
Blockchain data has revealed a sudden influx of large Ethereum purchases. Two new wallets, likely linked to institutions, acquired over 58,000 ETH, worth approximately $212 million, through Galaxy Digital and FalconX. Additionally, a separate whale made a $50 million purchase from Binance.
Growing Interest from Companies
Corporate players are also actively accumulating Ethereum. SharpLink has become the top corporate holder of Ethereum, adding nearly 5,000 ETH in just one day. This brings its total for July to over 157,000 ETH, valued at nearly half a billion dollars.
Forecasts and Market Impact
Inflows into Ethereum spot ETFs have reached record levels. Over the past week, these funds attracted $2.2 billion, doubling the previous week's intake and marking four of the five highest daily inflows. Arthur Hayes, former BitMEX CEO, predicts that ETH could soon break past $4,000 and potentially challenge $10,000 before the end of the year. As of now, ETH is trading around $3,710 with a market cap exceeding $450 billion.
The recent surge of interest in Ethereum from institutional investors highlights its attractiveness in the cryptocurrency world. With increasing purchases and ETF records, Ethereum continues to hold a significant position in the market.
