Matrixport: The total value of Ethereum held by institutions has reached $3.5 billion, a nearly tenfold increase compared to the same period last year

According to a report by Golden Finance, Matrixport released today's analysis, stating that the price of Ethereum has broken through the $4000 mark, reaching a new high since the end of 2021. The increase in institutional buying and favorable regulatory conditions have become the main driving factors. On chain data shows that the daily transaction volume exceeds 1.8 million, and over 30% of the supply has been pledged. The recent ruling by the US Securities and Exchange Commission (SEC) that liquid collateral tokens are not classified as securities has accelerated the layout of some listed companies. The total value of Ethereum held by institutions has reached $3.5 billion, an increase of nearly ten times year-on-year. The market is focusing on the next resistance level of $4362, with the historical high of $4892 still being the final target.