ethereum price continues to face downward pressure, demand and adoption remain unabated in certain areas of the market, particularly ETH Treasury. Digital asset treasury has become an important part of the market since its introduction, and ETH treasury has grown exponentially and broken records.
Ethereum treasury accumulation reaches historic milestone
As the unstable market environment continues, Ethereum Treasury is attracting attention and attracting great demand and interest from companies. Following recent moves by several large financial companies to own ETH treasury reserves, this initiative is now at a critical juncture that could trigger a new phase.
new report A paper by Leon Weidman, an optimist and head of research at Risk Inc., shows that Ethereum is experiencing a wave of institutional belief as corporate finance firms’ ETH holdings reach an all-time high. Companies are steadily incorporating major altcoins onto their balance sheets, signaling a broader shift in how ETH is classified.
Specifically, these large financial companies no longer Ethereum It serves not only as a speculative asset but also as a strategic digital reserve asset in the evolving crypto-economy. If you look back a year ago, the Ethereum Treasury did not exist. However, within this period the initiative has seen significant growth and millions of ETH are now held by companies in the cryptocurrency and financial sectors.
According to data shared by Weidman, more than 7.4 million ETH is currently held in treasury reserves at institutions. Compared to the total supply of Ethereum in circulation, this figure corresponds to approximately 6.6%. stack.
Ethereum finance companies have received a lot of criticism, some of which experts argue is only partially understandable. Given the significant increase from 0 to 74 million ETH in less than 12 months, Weidman believes the ETH treasury is still significantly undervalued.
Major companies at the forefront of implementation are Bitmine Immersion Technologyas public companies continue to add ETH to their crypto vaults. On Tuesday, the company, run by Tom Lee, Bought Additional ETH worth over $120 million.
Following the acquisition, Bitimine’s ETH holdings are now worth a staggering $9.21 billion, which currently represents 3.75% of the total ETH supply. Additionally, a large portion of ETH holdings, specifically $6.18 billion, are locked up in staking. This is equivalent to more than 2.5% of the total ETH supply.
Next month’s ETH price will be influenced by stochastic RSI
Investor and market expert Marlin the Trader says in his analysis using the daily time frame: revealed Ethereum’s Stochastic Relative Strength Index (RSI) has reversed from overbought territory. Interestingly, this key setting has It has appeared several times in the pastand may determine the next possible move.
The last time the setup took place, experts said the price of ETH fell from the $3,400 level to the $1,800 level. The same setup and Bollinger Bands structure is currently under development. If ETH is above $2,000, the pullback will be disabled. On the other hand, a loss of that level could trigger a downside move towards the $1,600 mark.
Featured image from Pexels, chart from Tradingview.com
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