• Strategic ETH Reserve hits $8.6 billion with participation from 61 entities. 
• The price of ETH is expected to hit much higher ATH prices. 
• Analysts highlight bullish indicators as altseason pump expectations rise.

The global interest in ETH continues to grow, which comes as no surprise to many who expect a parabolic rise during the coming altseason phase. As more and more institutions and financial entities heavily accumulate ETH, Ethereum celebrates another win. In detail, the Strategic ETH reserve hits $8.6 billion with participation from 61 entities, allowing altseason pump expectations to rise further.

Strategic ETH Reserve Hits $8.6 Billion 

With the crypto bull run nearing the altseason phase, it comes as no shock that the Etehreum ecosystem and ETH are gaining more recognition. Most recently, the Strategic Ethereum Reserve crossed the $8.6 billion threshold as 61 reputed and renowned entities rallied behind Ethereum’s long-term vision. All this recognition is being reflected on the price of ETH, which is closer than ever to reclaiming the $4,000 price range. 

Presently, several public companies are pouring their time, resources, and funds into Ethereum. To name a few, popular giants like BlackRock, Bitmine Immersion, SharpLink Gaming, and others are heavily and relentlessly accumulating Ethereum (ETH). So much so that this seems to be the current corporate crypto trend. Perhaps after ETFs for other altcoins are approved, they will experience the same accumulation strategy. 

To highlihgt, in the latest acquisitions, BitMine Immersion Technologies’ Ethereum (ETH) holdings have now exceeded $2 billion. This total count comes after the company recently secured $250 million in a private placement on 08 July as part of its asset-light treasury strategy. Moreover, as of 23 July, BitMine owns 566,776 ETH, valued at $3,643.75 ETH and BlackRock is likely leading the charge with its almost daily ETH accumulations. 

Meanwhile, expectations for ETH to lead altseason continue to grow stronger as analysts notice highly bullish indicators on the ETH price chart. First, the analyst talks about the current 15% retrace after a 50% move, which he believes is nothing to worry about. He then reminds traders of how bullish the ETH chart is at the moment, and states that the more bears we have show up after a tiny retrace, the further we are from the top. 

Thus, he concludes that no one will be calling a top when the actual top arrives, and advises traders to trade cautiously and vigilantly. He concludes by drawing attention to the ETH price chart, having completed a 5-year range breakout after two liquidity-swiping deviations. HE sheds light on a retest of the range and the RSI, which has room to go higher. The posts above conclude that altseason is near and that ETH will surge to higher targets soon.

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