Ethereum (ETH) is receiving a lot of interest from firms on Wall Street that are pursuing the asset for crypto-focused treasuries while abandoning Bitcoin (BTC). This interest coincides with the appearance of a symmetrical triangle that hints Ethereum price is about to record a 20% rally to $3,200. As of July 8, ETH was trading at $2,577 with a slight 0.8% increase in the last 24 hours.
A Nasdaq-listed company that was previously entirely focused on Bitcoin, is going to shift to ETH after it sold 280 BTC and used the proceeds to buy Ethereum. Bit Digital now holds 100,603 ETH tokens after a massive buying activity that has seen it emerge as one of the biggest holders.
However, Bit Digital is not the only entity that is turning its attention towards Ethereum, considering that the recent CoinShares report revealed that there is a lot of institutional interest in the largest altcoin, which is helping the Ethereum price sustain gains.
