Ethereum Surge 13% in a Week: What Is Happening?

Ethereum (CRYPTO: ETH) is enjoying a small rebound as institutional adoption and supportive chart patterns align for a 13% one-week gain.

ETH Seeing Strong Traction

Speaking on the Milk Road Show on July 6, Consensys founder Joe Lubin said the Ethereum ecosystem is seeing strong behind-the-scenes traction from traditional financial institutions, financial market infrastructure firms and builders working on decentralized rails.

SharpLink Gaming Inc. (NASDAQ:SBET), where Lubin serves as chairman, recently resumed ETH purchases, buying 10,000 ETH after an eight-month pause.

SharpLink CEO Joe Shalom said the company remains focused on increasing ETH per share while making its holdings productive through staking, liquid staking, re-staking and DeFi strategies.