Can institutional trading encourage the bulls?
While the upcoming ETH network merge had disappointed its fans, positive news about BlackRock's partners with Coinbase to offer institutional trading can help the overall positive sentiment in the market.
We know that this network merge is set to make considerable changes for all Ethereum users, and that's why this repeated delay made the Ethereum users not happy with the future plans, which could create another wave of disappointment with the negative effect on the markets.
On the other hand, BlackRock and Coinbase have partnered to offer institutional crypto trading, custody, and brokerage services. This decision and plan can help the market to attract more investors, especially institutional investments, which usually are huge amounts.
In short, we can say that this collaboration will help the customers of BlackRock's investment management platform, Aladdin, and Coinbase to have the access to various services such as custody, crypto trading, and prime brokerage all in one. This BlackRock decision shows how traditional financial players all around the globe getting more interested in the crypto market.
It seems with all these changes and news, ETH creating a floor for itself at around the 1,000 USD, however, the main resistance at $1,860 is key to reaching higher levels.
