Recently, Ethereum has shown positive dynamics in financial markets, which is related to high trading volumes and the active participation of large investors.
Ethereum Price Increase
In the last 24 hours, the price of Ethereum has increased slightly, reaching $4,403. This occurred amid a 3% decrease in trading volume to $35.54 billion. The sharp surge in ETH prices is linked to the fact that for the first time in seven years, the monthly spot trading volume for ETH on centralized exchanges surpassed that of Bitcoin.
Institutional Player Participation
Major institutional players, such as BitMine led by Tom Lee, are actively increasing their ETH portfolios. A recent purchase amounting to $167 million confirmed the optimism in the market. BitMine now holds 1.174 million ETH, which constitutes almost 1% of the total supply.
Current Dynamics and Forecasts
Overall fundamental indicators show that Ethereum is supported by sustained demand. The total value locked in Ethereum's DeFi applications exceeds $100 billion. The BitMine acquisition and other large investments signal significant interest from major investors. Forecasts indicate that breaking the resistance level at $4,950 could lead to further growth towards $5,200.
Thus, the current trends in the Ethereum market indicate increased interest from institutional investors, which may contribute to further price growth.
