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ETH Ethereum has once again become a focus of the market. This time, the trigger isn’t just mere speculation, but actual actions by Wall Street institutions. A company listed on NASDAQ has officially chosen to tokenize its shares using Ethereum (ETH). Moreover, there’s also a major project backed by government bonds that will be launched soon. This not only expands the applications of ETH but also instantly boosts investors’ positive sentiment towards it. Some people even wonder: Is Wall Street really ready to get involved? If so, the potential for Ethereum in the future might be even greater than we imagined.
A major stock tokenization initiative, backed by government bonds, has now been launched on Ethereum, boosting market enthusiasm for ETH.
SharpLink Gaming, one of the largest holders of ETH among listed companies, has announced that it will tokenize its shares directly on the Ethereum chain.
This move indicates that institutional investors are accelerating their participation in the market, further solidifying Ethereum’s position as the leading blockchain for representing real-world assets.
The tokenization process will be handled by Superstate, a DeFi protocol that currently manages over $800 million in real-world asset funds.
Their flagship product, USTB Fund, already holds tokens representing $617 million in tokenized government bonds. Now, they are expanding their efforts into tokenizing stocks.
According to SharpLink’s latest financial reports, their wallet holds 837,230 ETH, which is worth approximately $3.26 billion at current market value.
With a RWA TVL of over $9 billion, Ethereum is continuously expanding its dominance in institutional finance, creating ideal conditions for a long-term bull market for ETH.
Forecast for ETH price: After a deep correction, there may be a strong rebound towards $9,000.
In the past 7 days, ETH has fallen by approximately 14%, mainly due to the temporary pause in the market following the Fed’s interest rate cuts last week.
ETH has broken below the key psychological level of $4,000, currently trading at $3,893. Trading volume has increased by 38% in the past 24 hours, reaching $62 billion.
On daily charts, ETH has lost its main support level. The next strong support area is around $3,300.
If buyers can hold onto this level (along with the support provided by the 200-day EMA), it could trigger another round of buying activity, indicating the end of the current correction.
If there is a strong rebound from this level, combined with increased funds from ETFs and a boost in the momentum of altcoins, ETH could reach $5,000 before potentially hitting $9,000 within this cycle.
During the consolidation phase of ETH, some significant profit opportunities may come from pre-sales of emerging crypto projects.
Bitcoin Hyper (HYPER) is becoming a hot favorite among investors.
This new Bitcoin-based project has raised over $18 million. It aims to offer high performance and low fees, similar to Solana, thereby attracting attention from whales, exchanges, and early investors.
