Ethereum's Price Rises 0.018% as Institutions Show Interest

Ethereum's latest price was $2599.27, up 0.018% in the last 24 hours. Ethereum co-founder and Consensys CEO Joe Lubin believes that Ethereum could ultimately become more valuable than Bitcoin, citing its utility and role in building a trust-based financial infrastructure. Lubin made these comments during an appearance on a podcast, where he also revealed that Consensys is in talks with sovereign wealth funds and major banks in a “very big” country to build infrastructure across the Ethereum ecosystem. These talks reportedly center on building institutional infrastructure within the Ethereum ecosystem, including both layer-1 and customized layer-2 solutions. Lubin framed Ethereum as uniquely positioned to anchor the next phase of the global financial system. He added that Ether’s utility, ranging from staking and restaking to smart contract execution, could give it an edge as institutions shift toward blockchain-based infrastructure.

The remarks follow Consensys’ lead role in a $425 million private investment into publicly listed SharpLink Gaming. The company, which markets online gaming products, will use the capital to establish an Ethereum-denominated treasury. Unlike strategies centered on long-term Bitcoin accumulation, SharpLink’s treasury will actively deploy ETH through “staking, restaking, and DeFi at prudent risk levels.” The move is among the first of its kind and could signal a broader shift in how public companies and institutions approach Ethereum. SharpLink’s stock jumped over 400% following the announcement and has risen more than 900% in the past month, despite recent volatility.

Despite recent underperformance compared to Bitcoin and newer challengers, Lubin portrayed Ethereum as the network focused on long-term infrastructure. He characterized the protocol as methodically building the foundation for scalable, DeFi, even if it has lacked the loud narratives that drive short-term attention in crypto markets. With sovereign funds expressing interest in constructing financial infrastructure on Ethereum, the conversation is shifting. If governments begin to integrate Ethereum into their technology stacks, or even hold ETH as a strategic asset, it could redefine the competitive landscape among digital currencies. Lubin concluded with the view that Ethereum’s value lies not just in its price, but in its position as the world’s most trusted programmable asset. As trust, utility, and capital converge, the possibility of Ether surpassing Bitcoin in value no longer seems far-fetched.

Arkham, a company known for tracking blockchain activity, posted that BlackRock, a giant in the financial world, has bought $50 million worth of Ethereum. The post included charts and data that showed a steady rise in Ethereum balances and profits, suggesting the investment could be part of a bigger strategy. Based on data, there were several recorded transactions of BlackRock’s purchase of 9,000 to over 58,000 ETH worth between $23 million and $61 million. The huge Ethereum buy from BlackRock puts forth evidence that large corporations are paying closer attention to cryptocurrencies. A few wonder if the firm’s decisions are based on privately available information or if it is preparing for new rules or business collaborations. Another point of view is that it represents an exciting leap into an uncertain but hopeful direction.

More ETH has been moving to exchanges recently. The CryptoQuant chart presents the total ETH sent to exchanges from May 27 to June 4 and shows that the amount was not constant. On May 27, exchange inflows were around 200,000 ETH but surged to over 1.3 million ETH by June 1 before going down again. This indicates that there was a noticeable transfer of ETH onto exchanges, probably by investors planning to sell or trade. Despite these many transactions, Ethereum’s price continued to stay between $2.54K and $2.68K. Still, the crypto asset’s price only went down marginally, which shows that demand matched the selling activity. The reason for the sudden increase in inflows is not yet understood, but it might be due to large holders switching their assets or traders responding to broader market movements.