ETH launched an offensive, and the celebrity-backed Ethereum Reserve Company's growth was even greater than that of Ethereum
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Yesterday, U.S. stocks rose in volatile trading, with the Nasdaq index up 0.1%, setting a new closing high again. As Bitcoin fluctuates at its peak, ETH is launching a new offensive. BitMEX founder Arthur Hayes and Ark Investment founder Cathie Wood are simultaneously bullish on ETH. The Ethereum Treasury, backed by Wall Street heavyweights Tom Lee and Peter Thiel, is attracting massive capital inflows. SBET surged 29% yesterday, while MNR rose over 12%, sparking another wave of crypto concept stocks.
The Producer Price Index (PPI) data released on Wednesday showed that the U.S. June PPI remained unchanged from the previous month, with May's data revised to 0.3%. U.S. wholesale prices increased 2.3% year-on-year, the lowest level since September.
Although the monthly PPI increase was zero, Girard Investment Strategy Director Marc Balcer noted that a deeper look reveals the data is not so optimistic. The PPI does not include the direct impact of tariffs, meaning the $27 billion in tariff revenue collected in June will have to be absorbed by foreign manufacturers, domestic businesses, or ultimately consumers.
As Bitcoin fluctuates at its peak, ETH is launching a new offensive. Key figures like BitMEX founder Arthur Hayes and Ark Investment founder Cathie Wood are simultaneously bullish on ETH.
The Ethereum Treasury, backed by Wall Street giants Tom Lee and Peter Thiel, is attracting massive investor inflows.
SharpLink, an online gaming company led by Ethereum co-founder JOE Lubin, now holds 280,706 ETH, surpassing the Ethereum Foundation to become the world's largest ETH holder. SBET surged 29% yesterday.
Silicon Valley investment heavyweight Peter Thiel has acquired a 9.1% stake in BitMine, the Ethereum Treasury company led by Tom Lee, with BMNR rising over 12% yesterday.
Risk Warning: Cryptocurrency investment carries high risk, with potentially significant price volatility. You may lose all your principal. Please carefully assess the risks.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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