Ethereum News: BioNexus Gene Lab Adopts Ethereum as Primary Treasury Asset

In a groundbreaking move, Nasdaq-listed healthcare technology company BioNexus Gene Lab has announced an Ethereum-focused treasury strategy, positioning ETH as its primary treasury asset. Here’s a closer look at this significant development and its implications.

BioNexus Gene Lab Announces Ethereum-Focused Treasury Strategy

Healthcare technology company BioNexus Gene Lab has approved Ethereum (ETH) as its primary treasury asset, making it the first Nasdaq-listed company to include ETH. The company’s board of directors has approved the ETH-focused treasury strategy, and released a whitepaper outlining the rationale behind this approach. CEO Sam Tan cited Ethereum’s high liquidity, utility, and stability compared to other digital assets as key factors in the decision. By integrating Ethereum into its corporate treasury, BioNexus Gene Lab is embracing the future of financial infrastructure.

Taiko Hosts First-Ever Based Rollup Summit

Taiko, the first based rollup scaling Ethereum, is bringing together key figures in Ethereum to discuss based rollups, the next phase in Ethereum scaling. The event, held during ETH San Francisco week, will feature speakers including Vitalik Buterin, co-founder of Ethereum, Professor Dan Boneh from Stanford University, and Tomas Stańczak, CEO of Netheremind and Co-Director of the Etherem Foundation. Taiko emphasized that being permissionless is crucial for Ethereum’s long-term success, with based rollups playing a pivotal role in this new phase of development.

Ethereum Staking Hits All-Time High

Ethereum staking deposits have reached an all-time high, accounting for 28.5% of the circulating supply. This reflects strong investor confidence. The announcement of ETH’s inclusion in the U.S. Crypto Reserve may have fueled increased staking demand and institutional interest. With staking now a significant portion of Ethereum’s circulating supply, it is crucial to examine the driving forces behind this trend.

Ethereum Sees $20 Million Spot Inflows After 10-Day Outflow Streak – What Next for ETH?

At press time, ETH trades at $2,290, noting a 4% price hike in the past 24 hours. According to Coinglass, ETH’s spot inflows totaled $20 million on Thursday, following 10 consecutive days of fund outflows exceeding $600 million. This shift from outflows to inflows indicates a change in investor sentiment, with renewed buying interest replacing prior selling pressure. ETH’s spot inflows suggest a rise in demand for the asset.