Technical analysis by osodatsismoso about Symbol ETH: Buy recommendation (11/5/2025)

Institutional holdings: Public companies accumulated over 1.2M ETH, with strategies leaning into staking and liquid staking for reserve yield. Supply and fees: Circulating supply rose 0.1% QoQ to 120.7M ETH; network fees fell to multi‑year lows as activity migrated to L2s and alternative L1s. Staking: Total staked ETH climbed to 35.7M (29.6% of supply), with USD stake value up 43% to $89.2B Bullish momentum narrative: Multiple outlets point to consolidation below major resistance with upside targets between $4,500 and ~$6,900 contingent on breakouts and institutional flows resuming. On-chain/structural context: Continued high staked share (~30–35% of supply) and ETF rotation narratives underpin reduced liquid supply and potential resilience, though breakouts hinge on clearing $4,500–$4,975 resistance and defending ~$3,800 support Main news that captured my Attention is: Animoca Brands plans to go public on Nasdaq via a reverse merger with Currenc Group, expected to close in 2026. The Hong Kong-based firm, valued at $6 billion in 2022, has invested in over 600 projects across gaming, DeFi, NFTs, and metaverse sectors. The merger will make Animoca the world’s first publicly-listed, diversified digital assets conglomerate, with Animoca owning 95% of the new entity. Currenc will divest from its current operations, including a digital remittance platform, as part of the deal. Animoca’s digital asset treasury includes Bitcoin, Ethereum, Solana, and MOCA, with a market cap of $208 million for MOCA. The merger is subject to Australian regulatory approval; Animoca previously traded on the Australian Securities Exchange before delisting in 2020. Ethereum Layer 2 project MegaETH announced its third community-led raise, starting at a $1 million valuation with a cap of $999 million via an English auction. The raise is conducted through Sonar, Coinbase-acquired ICO platform founded by Jordan “Cobie” Fish. Coinciding with the raise, Hyperliquid launched MEGA pre-market perpetuals, quickly valuing MegaETH at $6 billion pre-market, with a current FDV of $5.2 billion. If the raise hits the maximum valuation, ICO participants could see a 5x return; early Echo round investors are up 23x, and Fluffles NFT holders nearly 10x. The event marks MegaETH’s third community-focused funding effort, emphasizing long-term social and onchain engagement. The rapid valuation surge signals strong investor interest ahead of the official launch.