Ethereum Records 1,318-Day High Close as Institutional Adoption Accelerates

Ethereum achieves its highest daily close in 1,318 days, reflecting increased market confidence and robust institutional participation.

ETF inflows, Fortune 500 blockchain adoption, and CBDC pilots are reshaping Ethereum’s ecosystem compared to its previous $4,000 peak.

Abraxas Capital loses over $190 million after shorting Ethereum and other cryptocurrencies during the current bullish market phase.

Ethereum reached a record daily close of 1,318 days while establishing a fresh benchmark for the cryptocurrency. The price movement happened during a period of significant market momentum combined with increasing institutional involvement in the Ethereum network.

Market Milestone for Ethereum

Crypto analyst Ash Crypto noted that Ethereum’s latest daily close is the highest in nearly four years. This performance signals renewed confidence in the asset during a period of heightened market activity. The last time Ethereum traded at comparable levels, the market landscape was considerably different.

At that point, there were no treasury companies holding Ethereum, and ETF inflows were minimal. There was also no large-scale movement of the stock market onto blockchain infrastructure. Today’s environment shows a marked change, with billions in ETF inflows and stronger on-chain activity.

Institutional and Regulatory Developments

Sapna Singh, a market commentator, emphasized that this cycle introduces new factors compared to Ethereum’s previous $4,000 peak. She pointed out the presence of Fortune 500 companies launching layer-2 solutions and central banks piloting central bank digital currencies (CBDCs) on Ethereum.

In addition, the so-called “Genius Act” has introduced regulatory clarity, paving the way for trillions in stablecoins to operate on the network. Tokenization laws are also advancing, creating more avenues for traditional assets to move onto blockchain infrastructure. This structural shift is contributing to Ethereum’s current market strength.

Short Sellers Face Heavy Losses

Meanwhile, on-chain data suggests some traders are feeling the pressure of this bullish phase. Henry, known for tracking alternative assets, reported that Abraxas Capital has incurred losses of over $190 million. The firm had short positions in Ethereum, Bitcoin, Solana, Hype, and Sui.

These positions were taken in an attempt to predict the market’s top, but the rally’s continuation has resulted in steep losses. In a strong uptrend, shorting can carry substantial risks, especially when the broader trend favors long positions. The current phase has shown that riding momentum may be less risky than fighting it.

Ethereum’s latest performance underscores the growing institutional and regulatory framework supporting its network, while market trends continue to challenge bearish traders.

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