Institutional Investors Keep Betting Big on Ethereum
Ethereum's price may be down, but its network activity is on the rise.
Despite the decline in Ethereum prices, the amount of Ether (ETH) staked on the blockchain has reached a record high of $40.2 million.
A significant portion of these new investments are coming from institutional investors, with US-based spot Ethereum ETFs recording a net inflow of $9.31 million on July 27.
The recent whale transactions and transfers linked to BitMine suggest that the accumulation trend in ETH is continuing.