The increased bullish sentiment has led to an approximately 15% increase in the price of Ether within a 30-day period. The fact that Ethereum is now trading above $2,000 suggests a growing focus on the asset, and this renewed optimism has propelled the year-to-date gain in ETH price to almost 70%.
New data suggest a surge in institutional holdings in the crypto asset.
Surge in Institutional Ethereum Holdings
According to CryptoQuant, there has been a notable uptick in institutional holdings of Ethereum, both through direct ownership and indirect channels such as trusts, ETFs, and funds, in November. This increase coincided with ETH’s price finding stability in the range of $1.8k to $1.9k.
Such a heightened institutional interest suggests a growing confidence among investors in Ethereum’s long-term value and the promising prospects for market expansion,…
