BlockBeats news, on August 7, Kronos Research Chief Investment Officer Vincent Liu stated that the clear stance of the United States on cryptocurrency regulation and the accumulation of institutional funds have also boosted interest in Ethereum. Recently, dozens of companies have adopted Ethereum as a funding allocation strategy to achieve diversification of their balance sheets and attract investors seeking exposure to digital assets. The cumulative value of ETH held by publicly listed companies has exceeded $7.5 billion. The recent surge in on-chain activity for Ethereum has not yet fully reflected in the ETH price.
Vincent Liu further stated: "The price trajectory of ETH is relatively cautious, market confidence is increasing, but there is still a process of value reassessment." If Ethereum staking ETFs are approved, it may further unlock the potential for price appreciation and on-chain activity, making ETH a yield-bearing asset for institutions to allocate.
BlockBeats previously reported that Ethereum's daily trading volume (7-day moving average) reached a record high of 1.74 million transactions on August 5, surpassing the previous record of 1.65 million transactions set on May 12, 2021.
