Current Ethereum price: $2530 $ETH

Bit Digital has increased its Ethereum reserves to over 100,000 ETH using net proceeds from a $172 million public offering and Bitcoin sales.

CF Benchmarks expects a tenfold increase in the number of companies holding Ethereum and SOL on their balance sheets over the next 12 months.

Ethereum may see a breakout as it approaches the top of a symmetrical triangle.

Ethereum (ETH) stabilized above $2500 on Monday after Bit Digital (BTBT) announced it invested $172 million, along with proceeds from selling 280 Bitcoin, to increase its reserves to 100,603 ETH. This purchase comes after CF Benchmarks predicted a tenfold increase in the number of companies integrating Ethereum and SOL into their balance sheets.

Bit Digital raises 100,000 ETH amid potential expansion of Ethereum adoption in balance sheets.

NASDAQ-listed Bit Digital announced it has become one of the largest Ethereum reserve companies in the world after increasing its balance to 100,603 ETH. This represents an increase of over 300% from its balance of 24,434 ETH at the end of Q1 2025.

The company revealed that it used net proceeds from a public offering last week - raising $172 million - and selling 280 Bitcoin to facilitate its new Ethereum reserve strategy. This purchase follows the company's announcement of its shift from Bitcoin mining to local Ethereum reserves last month.

Bit Digital's CEO, Sam Tabar, stated that the company plans to intensify its approach in an attempt to capitalize on the long-term potential of Ethereum.

He said: "We currently start with exposure of over 100,000 ETH, but we intend to add more aggressively to become the leading Ethereum reserve company in the world."

Bit Digital now ranks alongside major companies allocating Ethereum reserves such as SharpLink Gaming (SBET) and BitMine (BMNR), which announced a $250 million offering last week to purchase Ethereum.

The growing interest in Ethereum reserve companies aligns with the increasing interest in the stablecoin sector, where Ethereum leads with a 50% market share, according to DefiLlama data. This comes as banking and fintech companies ramp up the launch of stablecoins in anticipation of the House's approval of the GENIUS Act next week, consistent with the Senate's conclusion in June.

According to analysts at CF Benchmarks, these companies will need to hold Ethereum or SOL on their balance sheets to fund settlement fees for stablecoin transactions. Gabi Selby, head of research at CF Benchmarks, wrote: "We also expect that many payment gateways, converters, and e-commerce platforms will accumulate reserves as an operational necessity."

In addition to the increasing number of companies holding Ethereum reserves, the number of institutions holding Ethereum and SOL may see a tenfold increase in the next 12 months, he added.

Meanwhile, Ethereum investment products recorded 11 consecutive weeks of net inflows after institutional investors bought $226 million last week, according to CoinShares' weekly report. "On a relative basis, weekly inflows during this period averaged 1.6% of assets under management, significantly higher than 0.8% for Bitcoin, highlighting a notable shift in investor sentiment towards Ethereum," the report noted.

Ethereum Price Forecast: Ethereum approaches the top of a symmetrical triangle.

Ethereum experienced $65.54 million in futures liquidation in the past 24 hours, with $26.16 million and $39.38 million coming from long and short liquidations, respectively, according to Coinglass data.

Ethereum stabilized over the weekend, trading mostly above $2500 and testing the upper boundary of a symmetrical triangle that has been in place since June 11 before facing rejection. The weekend movement brought Ethereum close to the triangle's peak, indicating a potential breakout. A breakout from either side, confirmed by additional movement outside a wider symmetrical triangle extending from April 9, could see Ethereum rise to test resistance at $2850 or fall towards support at $2110.

Daily chart for ETH/USDT pair.

The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are trending downward towards their neutral levels, indicating a decrease in bullish momentum. $ETH

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