#BlackRockETHPurchase
#BlackRock Buys $560M in ETH# 🔥
Sensation in the crypto market! 💥
BlackRock through its iShares Ethereum Trust acquired 214,000 ETH worth $560 million since May 11! This could seriously shake up the Ethereum market! 🚀 Interestingly, the price of ETH is currently holding in the range of $2500–$2700, but such large purchases from the giant clearly will not go unnoticed!
▫️I share my opinion: such large purchases by BlackRock are a powerful signal for the market! In the short term, this could create support for the price of ETH at the level of $2500–$2700, as large institutional players like BlackRock often create a "price floor." But the real effect is likely to manifest in the long term: with $560 million in ETH and growing interest in crypto ETFs, Ethereum could see a new surge in growth, especially if the SEC approves staking in spot ETFs, which is currently rumored. This could push the price to new highs, as was the case with Bitcoin after similar actions by BlackRock.
▫️My strategy for Ethereum: I already hold some ETH, as I believe in its potential as a foundation for DeFi and smart contracts. Right now, I plan to buy more if the price drops, and hold it long-term, anticipating growth in 2025–2026. But I'm keeping an eye on the news — market volatility hasn’t gone anywhere, and movements in stock indices, like Nasdaq, can put pressure on ETH due to a correlation of ( around 0.65 with S&P 500).
What are your predictions and strategies? Share in the comments! 👇
Eth price prediction
