A recent report by Matrixport highlights that Ethereum's price remains high despite a lack of significant fundamental indicators.
Corporate Demand for Ethereum
The report noted that many institutional investors have begun to add Ethereum to their portfolios, positioning it as 'digital gold.' This trend indicates increasing acceptance of ETH as an institutional asset.
Stablecoin Activities
The continued high issuance of stablecoins on the Ethereum network provides ongoing liquidity to the ecosystem, which is another important factor supporting the price.
Regulatory Impact and Seasonality
The GENIUS bill being debated in the US, aimed at regulating the stablecoin market, could create a positive environment for Ethereum in the medium to long term. Additionally, July is traditionally a strong period for Ethereum, with the current price dynamics shaped by a mix of market momentum and fundamental factors.
The report also highlights the $2,500 level as an important technical support for ETH. Maintaining this level is critical for bullish positions.
