Ethereum Fund Holdings Surge 138%, Analysts Optimistic on Price Rebound
Ethereum Market Update
- Ethereum is currently stable above $4,100 after testing support near $4,050.
- The cryptocurrency has not surpassed the $4,250 resistance level but analysts predict a possible rally to $4,200-$4,300.
Institutional Accumulation Trends
- Ethereum's institutional fund holdings have seen a 138% increase, reaching approximately 6.8 million ETH.
- This growth surpasses Bitcoin's 36% increase in fund holdings over the past year.
- The ETH/BTC fund holdings ratio has evolved from three-to-one to nearly five-to-one.
Corporate and ETF Activity
- ETHZilla sold $40 million of ETH while repurchasing $12 million of its stock, indicating possible liquidity strategy shifts.
- BitMine has acquired 483,000 ETH since October 10, spending over $1.9 billion.
- Ether ETFs recorded $134 million in net inflows on Oct. 27, with BlackRock's ETHA ETF leading.