Institutional interest in Ethereum is growing rapidly; This is what the string data shows

Ethereum has not been previously returned by Binance Smart Chain, showing the indicators on the chain. Blockchain analysis platform IntoTheBlock has collected data on Ethereum transactions with volumes of more than $ 100,000. The portal noted that the second largest blockchain network processed $ 20.68 billion in the week ending April 11, resulting in a record $ 68.87 billion. transfer dollars. “These large transactions represent more than 77% of the daily on-chain volume,” he added. Ethereum transaction volume in US dollars. Source: IntoTheBlock Rising volumes in a blockchain showcase its growth as a public ledger. Meanwhile, larger capital transactions indicate transfers between wealthy organizations. These could be stock exchanges, portfolio services, or even institutional investors. In recent weeks, we have seen Ethereum emerge from the shadow of Bitcoin as an alternative cryptocurrency and form its own niche among institutional assets. The biggest example was Visa's first stable transaction via USDC, a token built on top of the Ethereum blockchain. A report released by CoinShares noted that ETH-based investment products attracted $ 4.2 billion in capital injections in the first quarter. Meanwhile, Grayscale Investments, a New York-based investment firm, increased its Ethereum assets from 2.94 million ETH earlier this year to 3.17 million ETH on April 12, focusing on crypto. The Ethereum Supply Crisis Market Sentiment Analysis Portal Santiment stated that the increased demand for "whales" with more cryptocurrency wealth triggered a supply crisis in Ethereum markets. Today, wealthy investors hold 68% of the total ETH supply in circulation. On the other hand, the number of Ethereum wallets dropped from 10 to 10,000 ETH and fell to its lowest level since September 2017. Ethereum prices are trading above $ 2,100. Source: ETHUSD on TradingView.com also, Read more

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