Ether Machine, formed through the merger of Ether Reserve and Dynamix Corporation, raised over 400,000 ether, equivalent to $1.5 billion, and is set to go public, offering new access to crypto yields. Ethereum surged over 20% in a week, leading to predictions of surpassing $4,000 and potentially reaching the $10,000s.

BitMine Immersion Technologies and SharpLink Gaming are among firms adding ether to their balance sheets, following the trend of incorporating ethereum into mainstream operations. Ethereum’s rise is supported by recent adoption in the US, with Robinhood introducing ethereum staking and the passage of the GENIUS bill by the US Senate.

Ethereum is a decentralized blockchain platform hosting programmable contracts and cryptocurrencies. It is the second-largest crypto by market cap, after bitcoin. Ethereum’s blockchain allows for smart contracts, which execute financial operations automatically when conditions are met, enabling the development of decentralized finance (DeFi) apps.

Ethereum launched in 2015 and has undergone updates like “The Merge” in 2022, transitioning to proof-of-stake consensus. This shift reduces the platform’s energy consumption significantly, separating it from proof-of-work blockchains like bitcoin. Ethereum has drawn attention from investors and organizations, with Visa settling transactions using the USD Coin on the ethereum blockchain.

Public figures like Eric Trump have expressed support for adding ETH, reflecting a broader movement towards crypto adoption. Wall Street executives, including JPMorgan Chase and Citigroup CEOs, have shown interest in working with crypto assets. Ethereum’s energy-efficient proof-of-stake system could attract more capital flows and enhance long-term sustainability.

Read more at Yahoo Finance: How ethereum rose to become a mainstream cryptocurrency