- BlackRock and Fidelity acquired more ETH tokens at lowered prices.
- Massive ETH purchases triggered a slight rally in the altcoin’s price.
- Ethereum targets $3,000 to flip into a bullish outlook.
BlackRock, the top-tier asset management company provider, purchased 100,535 ETH, equivalent to $284.92 million, on Wednesday morning. A cryptocurrency transactions tracker that posted about BlackRock’s latest acquisition on X also reported that Fidelity, another top asset management company, bought 9,552.99 ETH worth $26.39 million shortly after BlackRock’s purchase.
Related: China’s Tariff Retaliation Drags Altcoin Prices Down; ETH Eyes $2.2K–$2.5K
ETH Price Volatility and Market Context
The massive ETH purchases happened within a volatile week for digital assets when Ethereum’s price plunged alongside other cryptocurrencies following the revised international trade policies. ETH tumbled to a $2,150 low on Monday before rebounding quickly within the same trading day. However, the price stalled midway into the rec…
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