Ethereum Nears $3K Resistance as BlackRock Buys $300M ETH
The post Ethereum Nears $3K Resistance as BlackRock Buys $300M ETH appeared on BitcoinEthereumNews.com. The leading altcoin Ethereum is trading near the resistance at $3,0000, and this is significant. It shows that market players, especially institutional investors, whales, and traders, are making huge bets on the long-term potential of the second-largest cryptocurrency. Record Futures Volume Fuel Ethereum’s Bullish Momentum The technical indicators of ETH are quite positive, the volume of transactions is very high, and the capital flows are huge due to the interest from traditional finance. BlackRock, the biggest asset manager in the world, is leading this revived interest. The company recently carried out a $300.9 million Ethereum purchase, which marked its highest ETH investment yet. This single action has sparked widespread attention, reinforcing the growing belief that Ethereum is becoming the primary asset of interest for institutions. At the same time, Ethereum futures trading volume has exploded. For the first time in months, ETH futures volume surpassed that of Bitcoin. Glassnode reported that Ethereum recorded futures volume worth $62.1 billion compared to the $61.7 billion reported by Bitcoin. Ethereum futures interest also skyrocketed to $26 billion in one day, representing a 66.95% increase. It implies that there’s growing speculative interest and bullish enthusiasm about Ethereum’s performance. At the same time, large wallets (whales) are also accumulating ETH very fast. ETH Trades Near $3,000 Following Whale Accumulation and Bullish Technicals The number of wallets containing more than 10,000 ETH has grown by 9.3% since October 2024. These wallets have increased the number of ETH they hold to 41.06 million. Their buying rate was almost twice as much as the one in the middle of 2022, when Ethereum increased in value by 100%. This form of aggressive purchases reflects growing optimism about the long-term prospects of ETH. Not only is ETH about to break the psychological level of $3000, but this bullish development…

The post Ethereum Nears $3K Resistance as BlackRock Buys $300M ETH appeared on BitcoinEthereumNews.com.
The leading altcoin Ethereum is trading near the resistance at $3,0000, and this is significant. It shows that market players, especially institutional investors, whales, and traders, are making huge bets on the long-term potential of the second-largest cryptocurrency. Record Futures Volume Fuel Ethereum’s Bullish Momentum The technical indicators of ETH are quite positive, the volume of transactions is very high, and the capital flows are huge due to the interest from traditional finance. BlackRock, the biggest asset manager in the world, is leading this revived interest. The company recently carried out a $300.9 million Ethereum purchase, which marked its highest ETH investment yet. This single action has sparked widespread attention, reinforcing the growing belief that Ethereum is becoming the primary asset of interest for institutions. At the same time, Ethereum futures trading volume has exploded. For the first time in months, ETH futures volume surpassed that of Bitcoin. Glassnode reported that Ethereum recorded futures volume worth $62.1 billion compared to the $61.7 billion reported by Bitcoin. Ethereum futures interest also skyrocketed to $26 billion in one day, representing a 66.95% increase. It implies that there’s growing speculative interest and bullish enthusiasm about Ethereum’s performance. At the same time, large wallets (whales) are also accumulating ETH very fast. ETH Trades Near $3,000 Following Whale Accumulation and Bullish Technicals The number of wallets containing more than 10,000 ETH has grown by 9.3% since October 2024. These wallets have increased the number of ETH they hold to 41.06 million. Their buying rate was almost twice as much as the one in the middle of 2022, when Ethereum increased in value by 100%. This form of aggressive purchases reflects growing optimism about the long-term prospects of ETH. Not only is ETH about to break the psychological level of $3000, but this bullish development…
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