Ethereum and Solana Surge: Major Institutions Invest Amid Network Upgrades

Ethereum Gains Institutional Attention: Sovereign Wealth Funds and Major Banks in Talks

According to Decrypt, Ethereum co-founder and Consensys CEO Joe Lubin revealed that his firm is engaged in discussions with "major sovereign wealth funds and banks" in a "very big" country regarding the development of infrastructure on the Ethereum blockchain. Lubin suggested that these institutions are interested in both Ethereum layer-1 and potential layer-2 solutions. He emphasized that decentralized protocols could be the foundation for a new global financial system, especially as the current financial system shows signs of "structural fatigue."

Lubin also highlighted Consensys' recent $425 million investment in SharpLink Gaming to establish an Ethereum treasury, with the aim of utilizing Ethereum for staking, restaking, and DeFi activities at prudent risk levels. SharpLink’s stock experienced significant volatility following the announcement, but remains up 922% over the last month. Lubin remains optimistic about Ethereum’s future, describing Ether as potentially the "most valuable trust commodity on the planet" and suggesting it could surpass Bitcoin in value due to its productive asset capabilities.

“There’s structural fatigue in the financial system. It’s breaking,” said Lubin. “Decentralized protocols are the answer to bringing forth a new global financial system.”

Consensys in talks with sovereign wealth funds and banks about Ethereum infrastructure
SharpLink Gaming receives $425 million investment for Ethereum treasury
SharpLink stock up 922% in the last month
Lubin sees Ether as a "trust commodity" with potential to surpass Bitcoin

Key Takeaway: Institutional interest in Ethereum is rising, with major financial players exploring direct involvement in the ecosystem and treasury strategies.

Ethereum Shows Technical Strength Amid Market Uncertainty

TradingView reports that Ethereum has more than doubled in value since its April lows, gaining over 100% and maintaining resilience above key support levels despite global market volatility. Analyst Carl Runefelt notes that Ethereum is holding strong on the daily chart, and if Bitcoin moves sideways, Ethereum could break out of its current consolidation triangle, potentially leading the next altseason.

ETH is currently trading at $2,616, just below the 200-day simple moving average (SMA) of $2,679, which has acted as resistance. The consolidation range is between $2,480 and $2,700, with the 34-day EMA at $2,406. A daily close above $2,700 could open the door to $3,000, while a failure to hold $2,480 could see a pullback to the 100-day SMA near $2,065.

Support	Resistance	Current Price	200-day SMA	34-day EMA
$2,480	$2,700	$2,616	$2,679	$2,406

Key Takeaway: Ethereum’s technical structure remains bullish, with a potential breakout above $2,700 signaling a new phase in the bull cycle.

Ethereum Price Analysis: Bulls and Bears at Key Levels

Another TradingView analysis highlights that Ethereum recently recovered from the $2,470 zone, surpassing $2,500 and $2,540 resistance levels. However, resistance remains strong near $2,650 and $2,660. The price is currently above $2,540 and the 100-hourly SMA, but a break below $2,545 could lead to further losses toward $2,470 or even $2,420.

On the upside, a clear move above $2,660 could push ETH toward $2,720 and potentially $2,880. The hourly MACD is gaining momentum in the bearish zone, and the RSI is near 50, indicating a balanced market.

Major support: $2,545
Major resistance: $2,660
Potential upside targets: $2,720, $2,780, $2,880
Potential downside targets: $2,470, $2,420, $2,350

Key Takeaway: Ethereum is at a pivotal range, with a breakout above $2,660 needed for further gains, while a drop below $2,545 could trigger a deeper correction.

BlackRock’s $50 Million Ethereum Purchase and Exchange Inflows

U.Today and tokenpost.com both report that BlackRock, the world’s largest asset manager, has purchased over $50 million worth of Ethereum, with transactions ranging from 9,000 to over 58,000 ETH (valued between $23 million and $61 million) via Coinbase Prime. This move is seen as a sign of growing institutional interest in Ethereum.

Data from CryptoQuant shows that ETH inflows to exchanges surged from around 200,000 ETH on May 27 to over 1.3 million ETH by June 1, before declining. Despite this, Ethereum’s price remained stable between $2,540 and $2,680, with a 2.37% daily increase to $2,605.38 and a 24-hour trading volume of $18.15 billion, up 16.03% from the previous day.

Date	Exchange Inflow (ETH)	ETH Price Range	24h Volume	Price Change (24h)
May 27	200,000	$2,540 - $2,680	$18.15B	+2.37%
June 1	1,300,000	$2,540 - $2,680	$18.15B	+2.37%

Key Takeaway: BlackRock’s significant ETH purchase and rising exchange inflows highlight robust institutional and trading activity, with the market absorbing large transfers without sharp price drops.

Ethereum’s Momentum: ETF Inflows, Whale Activity, and Network Upgrades

DL News reports that Ethereum is up over 80% from April lows near $1,400, closing May at $2,530 after nearly reaching $2,800. Prediction markets show traders are leaning bullish, with a high chance of ETH hitting $2,700 or higher this month. Spot Ethereum ETFs have attracted $578 million in inflows over the past three weeks, with $286 million last week alone, while Bitcoin ETFs saw $157 million in outflows.

Derivatives activity is also strong, with open interest on Deribit surpassing $5 billion and call contracts outnumbering puts by more than two-to-one. Whale accumulation is evident, with one investor buying nearly $5 million in Ether on June 1. At the ETH Global event in Prague, Vitalik Buterin outlined plans to scale Ethereum’s base layer 10x over the next year, focusing on upgrades like delayed execution and distributed storage.

Ethereum up 80% from April lows
ETF inflows: $578 million in three weeks, $286 million last week
Deribit open interest: $5 billion
Whale purchase: $5 million in Ether on June 1
Network scaling plans: 10x base layer upgrade

Key Takeaway: Institutional inflows, derivatives activity, and network upgrades are fueling Ethereum’s momentum, with traders and analysts optimistic about further gains.

Solana’s Corporate Adoption: Classover’s $500 Million Treasury Pivot

Decrypt, TradingView, and Cointelegraph all report that Classover, a Nasdaq-listed online education platform, has announced a major crypto treasury strategy focused on Solana (SOL). The company has entered into an agreement with Solana Growth Ventures LLC to issue up to $500 million in senior secured convertible notes, with 80% of proceeds allocated to purchasing SOL. Classover has already acquired 6,472 SOL for approximately $1.05 million.

The company’s stock (KIDZ) surged over 40% to $5.45 following the announcement. This move follows a $400 million equity raise, bringing Classover’s potential Solana purchasing power to $900 million. The strategy mirrors other publicly traded companies, such as DeFi Development Corporation and SOL Strategies, which have also built significant SOL treasuries.

Company	Crypto Asset	Amount Raised	Current Holdings	Stock Impact
Classover	SOL	$500M (notes), $400M (equity)	6,472 SOL ($1.05M)	+40% (to $5.45)
DeFi Development Corp	SOL	—	~600,000 SOL ($100M)	+12%
SOL Strategies	SOL	Up to $1B	—	—

Key Takeaway: Classover’s $500 million Solana treasury strategy marks a significant shift in corporate crypto adoption, with other companies following similar paths to diversify and strengthen their financial positions using blockchain assets.

Solana Attestation Service: Streamlining KYC and Permissions

Blockworks highlights the launch of the Solana Attestation Service (SAS), an open protocol designed to turn off-chain facts into reusable, verifiable claims attached to Solana wallet addresses. This service allows issuers such as KYC providers, DAOs, and employers to write signed attestations to wallets, proving credentials like age, residency, or DAO membership without storing personal data on-chain.

SAS is privacy-preserving, frictionless, and permissionless, enabling users to use their credentials across multiple dapps without repeated verification. Early adopters include Civic, which will issue reusable compliance credentials, and Solid, which will allow users to collect stamps like “verified developer.”

Universal layer for identity-based credentials on Solana
Privacy-preserving and composable
Adopted by Civic and Solid for compliance and reputation

Key Takeaway: The Solana Attestation Service addresses the KYC bottleneck, offering a scalable, privacy-focused solution for identity verification across the Solana ecosystem.

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