Ethereum’s institutional demand is booming with the Strategic ETH Reserves (SER) now holding over 2.32 million ETH, worth $9.02 billion. This represents 1.92% of Ethereum’s total circulating supply. The reserve, spread across 64 active participants, has surged from zero since early April. By late July, the pace of accumulation sharply increased.
As per market data from Strategic ETH Reserve, Ethereum treasuries have recorded a bullish streak since April. Besides, Ethereum ETF holdings have also climbed to 5.80 million ETH, valued at $22.58 billion, which is 4.81% of the supply. The inflow streak has lasted 16 consecutive days, with over 122,000 ETH added daily.Â
SharpLink Leads ETH Reserve Strategy
Being one of the major players in ETH acquisition, SharpLink Gaming has ramped up the excitement. The firm recently snagged 77,210 ETH, which is $295 million, pushing their total holdings to over 438,017 ETH. Most of this latest acquisition has been staked, allowing them to earn yields along the way. With an estimated $1.69 billion, SharpLink ranks first among all ETH holder entities.Â
Ethereum (ETH) Eyes to Break $4,000
Ethereum surged as high as $3,877 earlier today, inched closer to the much anticipated $4,000 price mark. If it manages to break through the level, nearly $1 billion in short positions will be liquidated–as noted by Evan Luthra.
Bybit and Binance revealed long liquidations, highlighting the intense volatility in the market. As a result, bears are feeling the heat as bulls take charge.
Also Read: SharpLink Buys Additional 77,210 Ethereum (ETH) for $295 Million
