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Ethereum (ETH) is trading at $2,270, up 11.73% in the last 7 days

Ethereum (ETH) is trading at $2,270

Bybit crypto exchange recently published a research report that sheds light on institutional investors’ strategic moves and provides valuable insights into their evolving asset allocation preferences.

The report focuses on significant shifts in the Bitcoin and Ethereum realms, providing insight into the shifting perspectives of market institutional players.

A key finding from the study indicates a significant resurgence of interest in Ethereum among institutional investors.

Following a brief drop following the Shapella update, Ethereum is regaining favor among institutional investors, who see the cryptocurrency’s untapped potential.

The analysis reflects a bullish outlook on Ethereum‘s technical advancements and potential development trajectory, contributing to the observed increase in institutional investments.

Anatoly Yakovenko, the creator of Solana, has taken a measured stance on Ethereum, aiming to defuse perceived tensions between the two projects, frequently labeled fierce rivals.

In contrast to the popular perception of Solana as an “Ethereum killer,” Yakovenko called for collaboration, emphasizing that the success of one project does not depend on the failure of another.

According to CoinMarketCap, Ethereum (ETH) is trading at $2,270, an 11.73% increase in the last 7 days. Trading volume has increased by 46.39%.

Looking ahead, if ETH breaks through the $2,307 resistance level, it is poised for further gains, with the potential to test the $2,736 resistance level.

In contrast, a change in momentum that causes a price drop below $2,190 could result in a drop toward the $2,153 support level.

Because of the volatile market conditions, Ethereum has become a key focal point for institutional investors navigating the evolving crypto landscape.

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