$ETH
#Ethereum’s current setup is one of the strongest in years a spokesperson for (Elfa AI)
-A real-time social and on-chain behavior tracking platform told Decrypt
-Fundamentals sentiment and institutional flows all point in the same bullish direction
-Ethereum touched $3,418 this week marking its highest level since February
SharpLink and BitMine have collectively accumulated over $1.3 billion in Ethereum
-Ethereum held on centralized exchanges has dropped 34% year-to-date per Santiment
-Ethereum's rally in recent months could lead to a new all-time high this year analysts say as its fundamentals begin to firm and sentiment shifts
On Wednesday
-Ethereum reached a five-month high of $3,418
-The asset has since dipped but remains elevated with 24-hour gains exceeding 7% according to CoinGecko data
-The spike coincides with accelerated institutional accumulation including from the likes of -SharpLink Gaming whose holdings are nearing $828 million following a $225 million purchase in July according to DeFiLlama data
