ETH is trading at $2253, up 4.53% in the last 24 hours.
If the price manages to go past $2307 then it will rally further to test $2736.
Bybit released a research report that highlighted the strategic movements made by institutional investors and provided insight into their asset allocation interests. The research emphasizes a notable change in asset allocation, particularly within the Bitcoin and Ethereum domains, with an emphasis on the evolving market attitudes of institutional investors.
Institutional investors are showing renewed interest in Ethereum. After a brief dip shortly following the Shapella update, institutional investors are starting to see Ethereum’s potential.
An optimistic outlook in Ethereum’s technical breakthroughs and potential development trajectory is reflected in this increased investment, which is detailed in the analysis.
The creator of Solana, Anatoly Yakovenko, has recently made a rather moderate remark on the Ethereum blockchain. Yakovenko attempted to defuse tensions during a speech, despite the fact that the two projects are often seen as deadly rivals. Against widespread speculation that Solana is “Ethereum killer,” Anatoly Yakovenko has spoken up openly.
However, such generalizations hurt the crypto ecosystem as a whole, as they encourage needless competition across the different protocols, claims Yakovenko. Therefore, Yakovenko requested greater collaboration, stating that the success of one project is not dependent on the failure of another.
Bulls Dominating
At the time of writing, ETH is trading at $2253, up 4.53% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 46.39%.
If the price manages to go past $2307 then it will rally further to test $2736 resistance level. However, if the momentum shifts and the price goes below $2190 level, then it will decline further to test $2153 support level.