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Despite a significant withdrawal of $300 million from spot Ether Exchange Traded Funds (ETFs), market analysts observe a growing bullish sentiment in ETH derivatives. This conflicting market signal suggests that while some investors are exiting spot products, robust institutional interest and positive activity in the futures and options markets are helping maintain Ether's price trajectory towards the $5,000 mark.

Anchorage Digital, a prominent regulated crypto platform, has significantly broadened its institutional offerings by introducing custody and staking services for Starknet's native STRK token. This strategic move directly addresses the surging demand for crypto yield opportunities among sophisticated investors in the United States, providing a secure and compliant pathway for institutions to participate in the Starknet ecosystem.

Major Bitcoin mining operations, Riot Platforms and CleanSpark, have announced substantial increases in their monthly Bitcoin (BTC) production for August, alongside remarkable year-over-year expansions in their operational capabilities. This surge highlights the ongoing growth and scaling efforts within the institutional crypto mining sector.

The European Central Bank (ECB) is intensifying its focus on the potential risks posed by stablecoins issued outside the European Union. This comes as the United States progresses with its own regulatory framework, notably the GENIUS Act, underscoring a growing global imperative for comprehensive digital asset oversight. European officials are particularly keen on addressing the implications of these foreign-issued stablecoins to safeguard financial stability and consumer interests within the bloc.

The available supply of Ether (ETH) on centralized cryptocurrency exchanges has plummeted to its lowest level in three years. This significant reduction is primarily attributed to substantial capital inflows into spot Ether Exchange-Traded Funds (ETFs) and a marked increase in corporate treasury allocations to the digital asset. Since 2022, the supply of ETH held on these platforms has seen an approximate 38% decline, signaling a fundamental shift in holding patterns away from immediate trading.

The U.S. Federal Reserve has announced its intention to host a significant event in October dedicated to exploring advancements in payment systems and digital assets. This forward-looking initiative unfolds as the central banking institution faces internal leadership scrutiny, notably with Governor Lisa Cook reportedly disputing her removal through legal channels.

Ethereum (ETH) has recently made a significant move, rallying closer to the crucial $4,500 price level. This upward momentum has ignited a robust debate among market participants and traders, questioning the sustainability of the current rally. A combination of relatively muted futures activity and a distinctive technical setup is fueling skepticism, leading many to ponder whether this is a genuine breakout or merely a temporary surge.

Ukraine's parliament has taken a pivotal step towards integrating digital assets into its formal economy, approving a draft law on cryptocurrency legalization and taxation in its first reading. The legislative initiative garnered substantial support with 246 votes, signaling a clear intent to establish a regulated environment for the nation's burgeoning crypto sector and bring digital assets under a formal financial framework.

Recent market analysis suggests that Ether (ETH), the second-largest cryptocurrency by market capitalization, could be on a trajectory towards the $5,500 mark. This potential surge is underpinned by several compelling on-chain metrics and market signals, primarily revolving around a significant reduction in available supply, strong accumulation by large holders, and a bullish outlook from the derivatives market.