The market fluctuations these days are truly dazzling, especially #Ethereum, which has continuously refreshed its annual high! Early this morning, ETH broke through $4,331, with off-market funds pouring in, and everyone is watching Ethereum's trend. The underlying capital games are also quietly unfolding. Tonight's #CPI data directly propelled ETH above the $4,400 mark, with new highs continually breaking through; it really is a case of one wave not calming before another rises!
Ethereum Surge: Massive Institutional Fund Positioning
Currently, the market sentiment for ETH is extremely hot. The latest disclosed data shows that the holding of BMNR has reached 1.2 million coins, an increase of nearly 40% from last week's 830,000 coins. At the same time, SBet also announced a $400 million financing to increase its ETH holdings, which have now reached 598,800 coins.
More importantly, BMNR has clearly stated its goal to hold 5% of the total supply of ETH, which means its holdings could reach 6 million ETH in the future. Combined with this information, the scarcity of ETH will gradually increase, and the continuous influx of institutional funds will make ETH's market performance even stronger.
Last night, the inflow of funds into the ETH ETF also set a new record, with BlackRock and Fidelity contributing $640 million and $270 million in buying, respectively. The market giants are gearing up to further push the rise of ETH.
Aside from ETH, crypto treasury has also become a hot topic recently. #WLFI, as the latest crypto treasury, has announced a $1.5 billion private placement and is preparing to launch the WLFI treasury strategy. This is just part of the trend, with more treasuries emerging continuously.
For example, Shot Company partnered with Bonk, exchanging $35 million of preferred stock for $25 million of Bonk tokens, which directly pushed Shot up by 10%. However, behind the surge lies hidden risks; projects like this, with weak liquidity, may face a sudden drop at any moment. Bonk has also recently declined significantly, although the treasury announcement is considered a positive, its market share in the Launchpad sector has been surpassed by Pump, now only at 6.7%.
Regarding potential altcoins to focus on, refer to the article: Second Act of the Bull Market: The Relay Race is Here! ENA Surged 30% and Will Continue to Rise? This Dark Horse is Actually It? Let's Discuss the Trends of UNI, SOL, and PENGU
The two major warning signals in the recent market
Recently, some 'new platforms' and project teams have been promoting large-scale financing models, but these models are gradually becoming outdated. Projects like $light have delayed their token issuance, causing severe losses for participants. This delay model has proven unworkable, as the market has entered the peak of the bull market, and the risks cannot be ignored.
At the same time, I want to remind everyone not to blindly chase high prices, especially for altcoins. The market is full of opportunities but also filled with risks. Keep your bullets intact and wait for market signals; do not act impulsively.
Overall, the upward momentum of ETH is already quite strong. In such times, staying calm and choosing quality targets will yield the highest returns amidst market fluctuations. With further positioning of ETH and institutional funds, the altcoin season may also be approaching, and it won't be too late to strategize then.
This influx of institutional funds and the performance of ETH will make this bull market different from previous ones.
The arrival of altcoin season calls for vigilance, careful planning, and patiently waiting for the next wave of opportunities!
I'll stop the discussion here! If you're still unclear about the direction in the crypto space, why not strategize with me? Waiting for you, otherwise, in the next wave of market movements, you might find yourself on the other side.