Crypto curious Joseph Tsai to take over as chair at Alibaba
Joseph Tsai, a co-founder of Alibaba, will succeed Daniel Zhang as chair of the internet giant. He is a noted crypto enthusiast who has invested in several startups in the sector.
TheBlockLog in/ Sign up
Ethereum breaks through $4,200
Follow
At 1:07 PM on August 9th, Ethereum's price rose by 2.92% in just three minutes, breaking through the $4,100 and $4,200 levels in succession, reaching a high of $4,200. As of that afternoon, the price on Binance was quoted at $4,175, a 24-hour increase of 6.59%. This price performance marks Ethereum's highest level since December 2021. From the low of $1,386 on April 9th, Ethereum has achieved an astonishing 200% increase in four months.
Market analysts pointed out that the $4,100 mark has always been a key psychological resistance level for Ethereum. Previously, Bitcoin, gold and the S&P 500 index have all broken through their respective key resistance levels, and Ethereum is the last "major asset" that has not yet broken through.
2. Listed companies embrace Ethereum reserve strategies
In the traditional financial field, a trend of "ETH micro-strategy" is quietly emerging among US listed companies. Since the beginning of 2025, many companies have begun to include Ethereum in their corporate asset reserves and reshape their balance sheet structures. More than 85 listed companies hold a total of approximately 1.9% of ETH's circulation, a significant increase from 0.7% in 2023.
As of August 2025, the Ethereum reserves of major US companies have attracted attention:
Bitmine Immersion Tech holds approximately 833,100 ETH (statistics vary slightly between sources), valued at approximately $3.006 billion, making it the publicly traded company with the largest known holdings of Ethereum. SharpLink Gaming follows closely behind, with 568,000 ETH, valued at $2.3 billion. Together, these companies represent the "microstrategy" trend of Ethereum in the US stock market. On July 30th, to celebrate Ethereum's tenth anniversary, institutional Ethereum reserve platform Ethermachine announced it had purchased nearly 15,000 ETH at a price of $3,809 per ETH, for a total of approximately $56 million. This increase brings its total Ethereum holdings to 334,757, making it the third-largest "microstrategy company" holding Ethereum. data-src="https://mmbiz.qpic.cn/mmbiz_jpg/7Ya7MKjnpNMRz7K2wA6G4ZBhEzwWjm8WAjT82dzMYuO3v92i bibvPbdZX0k98g9e9NIdibXpYUZLcw8uFu3P8serg/640?wx_fmt=jpeg&from=appmsg&watermark=1" data-ratio="0.512962962962963" data-s="300,640" data-type="jpeg" data-w="1080" type="block" data-imgfileid="100013803" data-original-="" data-index="4" These companies are not a sudden trend. Joseph Lubin, chairman of the board of directors of SharpLink Gaming, is the co-founder of Ethereum. Bitmine's strategic transformation was led by Tom, co-founder of Fundstrat. Lee is the lead. They are well-versed in the laws of the blockchain industry, and their strategic layout signals a fundamental shift in Ethereum's position in corporate asset allocation. On August 8th, Hong Kong-listed Huajian Medical announced a major initiative: it completed the compliant purchase of its first batch of 5,190 Ethereum through the Hong Kong-licensed exchange HashKey, at an average price of US$3,661, for a total transaction value of HK$149.47 million. Huajian Medical stated in the announcement that the company can use up to HK$880 million to continue increasing its Ethereum holdings, aiming to become "the listed company with the largest Ethereum reserves in the Hong Kong stock market and even globally." Third, Ethereum's Core Technological Advantages Behind the price breakthrough, Ethereum's technological evolution provides solid support for its value. Compared to Bitcoin, Ethereum boasts three core advantages: interest-earning staking, a wide range of ecological application scenarios, and greater price elasticity. On May 7, 2025, Ethereum completed its most significant Pectra upgrade (Prague + Electra combined upgrade) since its 2022 merger, bringing three major breakthroughs:
• The staking limit was increased to 2048 ETH, significantly enhancing network security and decentralization. The staking economic model is key to Ethereum's appeal to institutional investors. Currently, the annualized yield on Ethereum staking remains in the 4-6% range, and according to the roadmap, this yield is expected to increase to 6-8%.
• Account Abstraction (AA) has been fully implemented, making wallet operations as simple as WeChat Pay.
• The developer toolchain has been upgraded, increasing dApp development efficiency by 300%. data-src="https://mmbiz.qpic.cn/mmbiz_jpg/7Ya7MKjnpNNGYUCHMFAAeLCKzib8GEe3qGoF9rJTxsdRp2ws VHX1N2k39f21Ux9QZRYpibnyChUClg7Viaq7yI2Mg/640?wx_fmt=jpeg&from=appmsg&watermark=1" data-ratio="0.562962962962963" data-s="300,640" data-type="jpeg" data-w="1080" type="block" data-imgfileid="100013866" data-original-="" data-index="5" src="https://mmbiz.qpic.cn/mmbiz_jpg/7Ya7MKjnpNNGYUCHMFAAeLCKzib8GEe3qGoF9rJTxsdRp2wsVHX1N2k39f21Ux9QZRYpib nyChUClg7Viaq7yI2Mg/640?wx_fmt=jpeg&from=appmsg&watermark=1&tp=webp&wxfrom=5&wx_lazy=1" _="" alt="image" data-report-img-idx="4" data-fail="0">
V. Market Outlook: The Road to $10,000
As Ethereum breaks through the key resistance level of $4,100, market analysts are increasingly optimistic about its prospects. Many experts point out that once it firmly holds above $4,100, Ethereum will enter a phase of "vertical price discovery."
From a technical analysis perspective, Ethereum's current situation has been compared to Bitcoin's period below $20,000 in early 2020, after which Bitcoin embarked on a historic upward trend.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
More news about joseph lubin
- XRP Lawyer John Deaton Accuses Joseph Bankman of FraudBullishBearish