Ethereum Price Sees Uptick Amid Double Bottom Pattern Formation

The Ethereum price has shown signs of recovery after a week-long correction, with a sharp morning star candle pattern signaling a potential reversal.

According to Coinglass data, the crypto market faced liquidation of over $556 million in the last 24-hour. However, the growth in tokenized real-world assets (RWAs) on Ethereum's mainnet has continued unabated, with a surge of nearly 200% compared to the previous year.

The value of RWAs has surpassed $15 billion, driven by major traditional finance participants such as BlackRock and JPMorgan. These entities are contributing to the growth in tokenized funds, commodities (mainly gold-backed tokens), and equities.