Ethereum Surpasses $3,200: Institutional Activity Fuels Price Rally

Recent price movements in Ethereum have reached a new high of over $3,200, driven by significant institutional activity. While the market sees modest gains, this rally is being influenced by both buying and selling pressure from key players. 859,853 ETH staked by SharpLink exemplifies the growing interest in Ethereum as a yield asset. This coincides with Binance’s and BlackRock’s recent $1 billion sell-off of Ethereum, which has created further volatility in the market.