Ethereum News Today: Institutional Buying Pushes Ethereum 6% Higher as Fetch.ai Falls 15% and BlockDAG Hits $363M Presale

Ethereum (ETH) saw a significant price rebound this week following a large accumulation move by institutional buyer BitMine, which added over 208,000 ETH to its holdings, pushing its total stake above 833,000 ETH with a value exceeding $3 billion [1]. The move triggered a nearly 6% rally, with ETH reaching $3,730 before retreating to $3,654 [1]. Analysts note that while the short-term buying pressure has injected momentum into the Ethereum price, long-term stability will depend on sustained demand from institutional wallets [1].

In contrast, Fetch.ai (FET) experienced a sharp downturn after breaking below the $0.66 level, a key support that had defined its price action for the past six months [2]. The drop has extended a 15% decline over the last seven days, and FET is now testing new support levels at $0.56 and $0.49 [2]. The asset remains near a long-term trendline from 2022, which has previously provided support but may struggle to hold if the downward trend continues [2]. Wave analysis suggests a possible correction is nearing its end, but this will only be confirmed if the price manages to hold above $0.60 [2]. For now, FET appears to be in a weak position with a cautious market sentiment.

BlockDAG (BDAG) continues to gain traction, having crossed $363 million in presale funding with over 24.7 billion coins sold to date [3]. The project has launched Trading Dashboard V4, a feature designed to simulate live market conditions with real-time order books, pricing, and depth charts [3]. The interface allows presale participants to engage with a near-launch environment, offering a unique experience that mirrors post-trading reality [3]. Currently, the presale price is fixed at $0.0016 until August 11, offering a potential 3,025% return compared to the confirmed listing price of $0.05 [3]. Over $7.6 million in miner sales and more than 19,000 mining devices sold indicate strong early adoption [3].

The divergence in performance among these three projects highlights the dynamic nature of the crypto market. Ethereum is seeing renewed institutional interest, FET is facing short-term bearish pressure, and BlockDAG is building a robust presale structure with tangible tools for its users. As ETH and FET trade within volatile ranges, BlockDAG is positioning itself with a structured roadmap and clear milestones, offering a unique value proposition to its growing community [3].

Source:

[1] ETH Price Rises After BitMine Pushes Holdings Over $3 Billion

https://coinmarketcap.com/community/articles/689239b2c85cc103049abccd/

[2] FET Price Dips Further After Losing Triangle Support

[3] BlockDAG Trading Dashboard Mirrors Live Market Ahead of Launch