FG Nexus Aims for $5 Billion Ethereum Hoard, Boosting ETH's Bullish Momentum Past $4000

To gather what it aims to be the biggest corporate Ethereum treasure, Fundamental Global Inc. (soon to be FG Nexus) has filed an SEC shelf registration to raise up to $5 billion—$4 billion via at-the-market common stock offerings and $1 billion through preferred shares, debt or other devices—targeting up to 10% of the entire ETH supply. Having already raised $200 million and revealed its rebranding, FG Nexus will use the majority of proceeds toward Ethereum purchases, implement staking and DeFi techniques for yield, and then finance projects. The news has raised FGF's share price and boosted bullish Ethereum mood, therefore emphasizing a major institutional acceptance of ETH as both a strategic reserve and a yield-generating asset.

ETHUSD holds above $4000 following the footsteps of BTC.  It hits an intraday high of $4350 and is currently trading around $4274. Overall trend remains bullish  as long as support $3350 remains intact. Watch out for $4350, any break above targets $5000. A robust bullish trend will only materialize above $5000.

Immediate support is around $3800. Any violation below will drag the price down to $3695/$3550/$3500/$3380/$3200/$3000. A breach below $3000 could see Ethereum plummet to $2770/$2500.

It is good to buy on dips around $3800 with SL around $3600 for a TP of $5000