Coinbase Builds Largest Ethereum Reserve as Institutional Demand Surges
Crypto custody firm Coinbase has amassed the largest Ethereum (ETH) reserve, totalling 6.62 million ETH, in recent weeks. This significant acquisition comes amidst mixed technical signals and strong institutional demand for the cryptocurrency.
Coinbase's substantial purchase adds to the growing institutional interest in Ethereum. Other companies, such as BitMine Immersion, have also been bulking up their ETH reserves, with the latter acquiring 234,800 ETH worth approximately $10.6 billion. Meanwhile, staking entities hold around 5.49 million ETH, representing about 4.54% of the total supply.
The current ETH price stands at around $4,107.20, trading above the $4,160 mark and the 100-hourly Simple Moving Average. Short-term projections suggest a potential rise to $4,527.07 by October 5, 2025. However, key resistance levels at $4,200, $4,240, and $4,320 may pose challenges to this upward trajectory.
Ethereum's price action and institutional demand indicate a bullish sentiment. With Coinbase's substantial reserve and other companies following suit, the cryptocurrency's future outlook appears promising. However, technical indicators suggest a cautious approach, with the RSI at 39.46 indicating oversold territory.
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