Ethereum Surges Amid Institutional Demand
Ethereum surged 6.63% in the past 24 hours breaking above $3,800, outpacing Bitcoin’s modest 2% gain and outperforming the broader altcoin market, which rose an average 4.5%. The rally was driven by a wave of corporate ETH accumulation, regulatory tailwinds for staking protocols, and a key technical breakout on the weekly chart.
Treasury Demand Heats Up
Institutional appetite for Ethereum is intensifying. SharpLink Gaming announced it had secured $200 million to grow its ETH holdings beyond $2 billion, while BitMine Immersion Technologies launched a $250 million ETH treasury strategy. According to CoinMarketCap, public companies now hold over 3 million ETH, representing 2.5% of the total supply, with long-term targets nearing $30.4 billion in collective holdings.
Most of this ETH is being staked, creating structural demand and removing liquidity from the open market. If treasury targets are met, these firms could absorb up to 23% of Ethereum’s annual issuance, reinforcing bullish supply dynamics.
SEC Clears Path for Liquid Staking
On August 5, the U.S. Securities and Exchange Commission clarified that liquid staking protocols – such as Lido and Rocket Pool—do not qualify as securities, provided they operate without centralized managerial discretion. This removes a significant legal uncertainty for Ethereum’s staking ecosystem.
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Liquid staking now represents 30% of all staked ETH, and analysts believe the regulatory green light will unlock institutional participation previously sidelined by compliance concerns.
Technical Signals Flash Green
Ethereum also triggered a golden cross on the weekly chart, with its 23-week moving average crossing above the 200-week MA – a historically bullish indicator. The price broke past the $3,606 Fibonacci level, though the MACD histogram remains slightly negative (-49.1), signaling mixed short-term momentum. Still, with $533 million in spot ETH ETF inflows recorded yesterday, Ethereum appears well-positioned for continued upside.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
