Ethereum Price Shifts Amid Institutional Buying

The Ethereum price prediction has been influenced by the recent sale of 10,000 tokens by the Ethereum Foundation to BitMine in a deal worth $22.9 million. This transaction is part of a series of similar deals, with BitMine now holding over 5 million ETH valued at more than $11 billion. The sale suggests that institutional buyers are confident in the cryptocurrency market and are absorbing supply at an alarming rate.

The sale has put a floor under the price of Ethereum, which trades near $2,362 after gaining 13% over the past month. Support for the price is around $2,200, with resistance at $2,500 based on current ranges. The upcoming Glamsterdam upgrade could triple the gas limit and attract more on-chain activity.

Pepeto, a project that offers a full exchange and cross-chain bridge, has attracted significant attention with its presale raising over $9 million. With a Binance listing expected soon, Pepeto is well-positioned to take advantage of the growing demand for cryptocurrency services.