Ethereum’s breakout comes amid a surge in institutional interest in the digital asset for their treasury reserves.
While he welcomed the adoption, Buterin cautioned firms against overleveraging their ETH holdings.
According to Buterin:
“If you woke me up 3 years from now and told me that treasuries led to the downfall of ETH… my guess would be that they turned into an overleveraged game.”
In addition to these firms, the Ethereum network has also seen a surge in adoption via exchange-traded funds (ETFs), with a record $5 billion in inflows recorded in July.
Looking ahead, market optimism continues to rise along with expectations of Ethereum’s continued price growth.
Meanwhile, BitMine’s projections suggest a much higher potential, estimating ETH’s implied price at $60,000.
