Analysts: The hot activity on the Ethereum blockchain is not reflected in the ETH price, and the approval of the staking ETF may further unleash its pump potential.

According to BlockBeats, on August 7th, Vincent Liu, Chief Investment Officer of Kronos Research, stated that the clear stance of the United States on cryptocurrency regulation and the accumulation of institutional funds have also boosted interest in Ethereum. Recently, several dozen companies have adopted Ethereum as part of their funding allocation strategy to achieve balance sheet diversification and attract investors seeking exposure to digital assets. The cumulative value of ETH held by publicly listed companies has exceeded $7.5 billion. The recent surge in on-chain activity for Ethereum has not yet been fully reflected in the ETH price. Vincent Liu added, “The price movement of ETH is relatively cautious, market confidence is strengthening, but a reevaluation of value is still underway.” If the Ethereum stake ETF is approved, it could further unleash the potential for price pump and on-chain activity, making ETH a yield-generating asset that institutions can allocate.