BiyaPay Analyst: Ethereum has risen 40% in a week aiming for $3000, BlackRock's ETF staking proposal + Whale accumulation ignites the market.

BlockBeats News, on May 12, Ethereum has started a strong rally in recent weeks, up 40% in the past week, as the second largest cryptocurrency by market capitalization, its price broke through the key psychological level of $2,500 in one fell swoop, and nearly 6.61 million investors are about to turn losses into profits. There are four core driving forces behind this round of rise: first, whale addresses holding 10,000-100,000 ETH are increasing their holdings at the fastest rate in the past three years, and the institutional layout signal is significant; Second, after the upgrade of Pectra, the amount of network staking has surged, and the circulating supply has continued to tighten. Third, the scale of RWA tokenization on the Ethereum mainnet exceeded $5 billion, and the U.S. Treasury token rose by 12% in a single month; Fourth, BlackRock's Ethereum ETF staking proposal submitted to the SEC has attracted market attention, and if approved, it will bring an annualized staking yield of 3.2%, making ETH an innovative financial instrument with both capital appreciation and cash flow attributes. Robert Mitchnick, head of digital assets at BlackRock, pointed out that the staking mechanism may completely change the attributes of crypto assets, making them closer to traditional yield-based financial products. Market analysts believe that the demand for institutions to participate in staking through ETFs may reverse the current cold situation of products and inject sustained momentum into ETH's impact of $3,000 or beyond. As the world's first multi-asset trading wallet, BiyaPay has opened up the instant exchange of 30 fiat currencies and 200 digital currencies, and users can directly participate in the U.S. stock/Hong Kong stock securities market by exchanging USDT 1:1 in equal amounts, and the digital currency spot/contract maker has zero handling fees.