CandleFocus

Influencer Predicts $5K for Ethereum After BlackRock, Fidelity Buy

Investment giants BlackRock and Fidelity have purchased a significant amount of Ethereum (ETH) in a single day, leading to speculation of growing institutional interest in the cryptocurrency. The purchases, totaling 37,900 ETH worth $130.8 million, indicate increased confidence in the Ethereum blockchain and its potential. The influx of institutional capital may impact the price of ETH, which is currently trading at $3,399.87. While hitting the $5,000 mark is seen as a possibility, market conditions and the adoption of blockchain technology will ultimately determine the token's trajectory.

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