Is the crypto market back on the upswing? Institutions and whales started buying again!
In the meaime, Tom Lee, CEO of Bitmine and a well-known analyst, believes that the rece jump in gold and silver has diverted investors’ atteion from the crypto market for the time being, but the fundameals of this market are strengthening. According to him, financial institutions are preparing their infrastructure to develop on Ethereum and smart blockchains; A factor that can help return the upward trend in the medium term.
In this regard, Bitmine coinues to accumulate 40,302 more units of Ethereum. On the other hand, Michael Silver’s Strategy Company also added another 2,932 bitcoins to its reserves.
In the meaime, Binancecoin has not been left out of the atteion of institutions and with the listing of the new BNB exchange-traded product (ETP) by Virtune on Nasdaq, it has once again become an attractive option for institutional investors; A move that can support the price of this token in the medium term.
At the iernational level, reports also indicate the possibility of launching the first crypto ETFs in Japan by 2028. It is said that companies such as Nomura and SBI Holdings are at the forefro of these offerings; An issue that can be a turning poi for the institutional acceptance of cryptocurrencies in Asia.
