🐋 Big players continue to accumulate $ETH

QCP Asia analysts also noted that public companies continue to actively accumulate Ethereum. Last Sunday, several firms announced purchases of the second-largest cryptocurrency or raising funds for it. On July 18, trading on the Nasdaq, SharpLink Gaming purchased 18,712 ETH via Galaxy Digital and 14,180 ETH via Coinbase Prime. 

According to SoSoValue, last Sunday the spot Ethereum ETF received $2.18 billion - a record value in the entire history of the instrument. Open interest in perpetual futures based on the altcoin grew from $18 to $28 billion in seven days. 

The adoption of the GENIUS Act and the demand for Ethereum from large companies act as catalysts for further growth of the cryptocurrency. On July 18, US President Donald Trump signed the GENIUS Act. The law defines regulatory requirements for the stablecoin segment. This will strengthen Ethereum's position as the main blockchain for stablecoins.
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