The crypto market shows signs of stability as the Bank of Japan (BOJ) holds its benchmark interest rate unchanged on Friday. Bitcoin advances towards $90K and gold rises amid mixed sentiment as the US PCE inflation remains elevated and Japan’s inflation slowed for the first time in four months. Bank of Japan Holds Rate Unchanged

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Cryptocurrency-based treasury reserves have become a highly adopted initiative in the sector, with Ethereum and Bitcoin leading the charge. Even though the initiative kicked off with Bitcoin, Ethereum treasury reserves have witnessed exponential growth as accumulation grows among large companies in the past few months.

Institutional Ethereum Adoption Still Growing

Amid the new wave of crypto adoption in the financial landscape, Ethereum’s role as a premier institutional asset is gaining traction, with treasury reserves holding ETH expanding at a rapid pace. In recent months, corporate and cryptocurrency-native treasuries have both increased their holdings, indicating a growing conviction in Ethereum’s long-term value and utility.

However, Ted Pillows, a crypto enthusiast and investor, has reported a cooling down in ETH accumulation among treasury companies in September. Such a development hints at a potential pause in the accumulation trend.

Following months of aggressive ETH allocations, this cooling trend raises the question of whether treasuries are taking a break or waiting for the market to reevaluate. Data shared by Ted shows that companies have acquired over 816,000 ETH in the month alone. While it may seem like a large quantity, this is a 50% decline when compared to August’s accumulation.

This drop in half marks one of the steepest month-to-month pullbacks of this year. Despite the pullback in institutional accumulation, Ethereum treasury reserves remain elevated, with over 5 million ETH held in total by companies.

According to the expert, there are now 5,255,246 ETH held by treasury reserve corporations, signaling growing confidence in Ethereum’s long-term value and utility. With these enormous holdings, ETH is positioned as a key component of treasury diversification strategies across the globe, highlighting not only its growing reputation as a store of value but also its pivotal role in decentralized finance and staking economies.

ETH Being Hailed As The Asset To Drive The Next Business Strategy

Forbes has proclaimed that the ETH treasuries could be the next big business strategy in the financial sector. What was once seen as a high-risk experiment is now being reconsidered as a forward-looking business strategy, with business and investors exploring ETH holdings as a hedge and a growth engine.

The firm’s bold statement is driven by its belief that ETH treasuries are yield-bearing assets, unlike Bitcoin, which typically sits idle on corporate balance sheets. Furthermore, Forbes stated that the statement is not from a speculative view because ETH is balance sheet engineering. By staking or lending ETH, treasury funds can lower circulating liquidity and generate new revenue streams.

At the time of writing, ETH’s price was trading back above $4,100, demonstrating a nearly 3% increase in the last 24 hours. Bullish sentiment is gradually returning to the market, as evidenced by an increase in its trading volume. Data from CoinMarketCap shows that the trading volume has spiked by more than 50% in the last day.

Featured image from iStock, chart from Tradingview.com

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On May 22, Bitcoin registered a new all-time high at $111,970. Since then, market prices have retraced to around $108,000, largely influenced by macroeconomic pressures. Following this development, prominent crypto analyst Burak Kesmeci backs the premier cryptocurrency to soon return and surpass this current all-time high, based on recent on-chain data.

Bitcoin Advanced NVT Holds Above Key Level: Bullish Continuation Remains In Play

The Advanced Network Value to Transactions (NVT) metric is an on-chain valuation model that compares Bitcoin’s market cap to its daily USD transaction volume. It is used to evaluate whether an asset is overvalued or undervalued relative to usage. 

Generally, higher Advanced NVT values indicate heightened investor speculation, while sustained levels above key thresholds have often coincided with major bull runs. According to Burak Kesmeci in an X post on May 24, the Bitcoin Advanced NVT signal has recently crossed above the +2 standard deviation (+2xSD), a historically significant boundary that signals a period of bullish market strength and robust investor confidence.

As seen in Q4 2023 and Q4 2024, an advanced NVT crossover above the +2xSD highlighted in orange in the image below has previously served as a launchpad for bullish continuations, resulting in extended periods of upward momentum.

Although the Advanced NVT signal is presently turned downward, Kesmeci explains that as long as this metric remains above the +2xSD level, Bitcoin is likely to maintain its uptrend, indicating there is strong potential for the cryptocurrency to enter new price territory in the coming weeks. 

With Bitcoin surpassing its former all-time high in the past week, the premier cryptocurrency continues to look likely to attain the lofty price targets being set by several market analysts. However, macroeconomic factors, most notably US trade policy, remain a major influence capable of inducing significant setbacks as seen since the start of 2025.

Bitcoin Market Overview

At press time, Bitcoin is trading at $107,835 following price gains of 4.02% and 15.37% in the past seven and thirty days, respectively. Meanwhile, the market’s daily trading volume is down by 31.58% and valued at $45.94 billion.

According to data from blockchain analytics firm Sentora, the Bitcoin network experienced a 51.03% increase in network fees, signaling a significant rise in transactions and user activities.

Meanwhile, exchange inflows were valued at $184 million, which Sentora has described as “mild” relative to previous weeks. This development indicates that many investors opted against selling their BTC holdings despite a new all-time high, signaling long-term market confidence.

With a market cap of $2.13 trillion, Bitcoin continues to rank as the largest cryptocurrency and the fifth-largest asset in the world.

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