Ethereum Treasury Firms May Accumulate 10% of Total ETH Supply
Ethereum price has decreased by 4% in the last 24 hours, reflecting a general decline in the crypto market due to profit-taking. Despite this dip, institutional interest remains strong.
- Standard Chartered Bank's Geoff Kendrick suggests that Ethereum could attract significant institutional inflows.
- Kendrick forecasts ETH may surpass $4,000 if current inflow trends continue.
- ETH treasury accumulation is reportedly happening at double the rate of Bitcoin treasury growth.
- If this trend holds, ETH treasury holdings could reach 10% of total supply, approximately $45.5 billion based on current market cap.
- In two months, ETH-focused treasuries accumulated about 1% of circulating supply, roughly $9 billion.
- Key institutional players include BitMine with over $2 billion in ETH and SharpLink with $1.3 billion.
Currently, Ethereum trades at $3,762, showing a slight decline of 0.96%. If it rebounds from the support level around $3,700, a test of the $4,000 resistance could occur. A breakout above $4,140 might lead to prices reaching $4,500.
However, if bearish pressure increases, support levels could be retested at $3,473 or even drop to $3,000. The RSI indicates a downward trend, hinting at weak buying momentum while still holding above the 20-day EMA.
As institutional capital flows into Ethereum, there is rising demand for secure wallets. The Best Wallet, a non-custodial, multi-chain wallet, is gaining popularity as users seek ways to store and stake their ETH.