Blackrock with Great Interest in ETH
• Ethereum is trading at $4,258.53, approaching its all-time high of $4,891.70
• The current market capitalization is $534.92B (13.22% market dominance)
• Daily trading volume of $29.49B shows strong market participation
• The asset is only 9.6% below its peak, with increasing momentum
Analysis of Driving Factors
• Aggressive accumulation of ETH by BlackRock worth $2.32B, including a recent inflow of $1.01B
• Regulatory clarity with the SEC's confirmation of ETH's status as a non-security, allowing institutional participation
• ETH ETFs record inflows of $3B in August, during 8 consecutive positive days
• Technical catalysts with upcoming Fusaka and Glasterdam updates improving scalability in L2
Trading Implications
