Ethereum News Today: Ethereum Surges Past $4,330 as FG Nexus Launches $5 Billion Expansion Plan

Ethereum (ETH) surged past $4,330 on August 10, marking the first time since the 2021 bull cycle that it has reached this level [1]. This price movement coincided with the announcement by Fundamental Global, a Nasdaq-listed firm in the process of rebranding as FG Nexus, which plans to file a $5 billion “shelf registration” with the U.S. Securities and Exchange Commission (SEC) to fund its Ethereum accumulation strategy [1]. The company aims to acquire 10% of the total Ethereum supply, positioning itself as one of the largest institutional holders of the asset.

The proposed expansion includes a flexible capital-raising framework that allows for both public share sales and other forms of financing [1]. Specifically, FG Nexus has outlined an “at-the-market” offering for up to $4 billion in direct public share sales and a $1 billion reserve that could be accessed through preferred shares, debt, or other securities. This phased and adaptive strategy is intended to minimize market volatility and build a substantial Ethereum position over time, while also maintaining control over the cost basis.

Institutional adoption of Ethereum has been steadily increasing, with FG Nexus joining a growing list of firms viewing the cryptocurrency not just as an investment but as a strategic component of corporate treasury management [1]. This shift reflects broader confidence in Ethereum’s role as a foundational infrastructure asset within the digital economy.

The price action has also been influenced by growing bullish sentiment, as evidenced by a 320% rise in Ethereum futures market funding rates from 0.0024% on August 7 to 0.012% by the time the announcement was made [1]. This indicates that leveraged long positions remain optimistic despite rising costs, a sign that institutional and retail players alike are maintaining bullish expectations.

Technically, Ethereum’s momentum appears strong, with the price hovering above the upper Bollinger Band on the daily chart and maintaining a level above $4,330 [1]. The 20-day moving average sits around $3,765, and the MACD histogram is expanding in a bullish direction. Traders are now watching for a potential breakout at $4,600, with $3,950 as the immediate support level. A drop below $3,950 would test the second key support at $3,765, which aligns with the 20-day average.

At the time of the report, Ethereum was trading at $4,296, representing a 1.77% increase in the previous 24 hours [1].

Source:

[1] Ethereum Soars as FG Nexus Aims for a Massive $5 Billion Expansion

https://en.coin-turk.com/ethereum-soars-as-fg-nexus-aims-for-a-massive-5-billion-expansion/

[2] Coinspeaker's Profile

https://www.binance.com/en/square/profile/coinspeaker