Matrixport: The total value of Ethereum held by institutions has reached $3.5 billion, a nearly tenfold year-on-year rise.

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[Matrixport: The total value of Ethereum held by institutions has reached $3.5 billion, a nearly tenfold year-on-year increase] Matrixport released today's analysis, noting that the price of Ethereum has surpassed $4,000, reaching a new high since the end of 2021. Increased institutional buying and favorable regulatory news have become the main driving factors. On-chain data shows that daily trading volume exceeds 1.8 million transactions, with over 30% of the supply staked. The U.S. Securities and Exchange Commission (SEC) recently ruled that liquid staking tokens do not fall under the category of securities, prompting some listed companies to accelerate their layouts, and the total value of Ethereum held by institutions has reached $3.5 billion, a nearly tenfold year-on-year increase. The market is focused on the next resistance level at $4,362, with the historical high of $4,892 still being the ultimate target.

ETH-0.18%
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