The board of directors of Nasdaq-listed technology firm BioNexus Gene Lab (BGLC) has approved the addition of Ethereum as a strategic treasury asset.
In the presented Ethereum Strategy Whitepaper, the management justified their choice with the following factors:
- institutional reliability: adoption among financial institutions and ETFs;
- yield generation opportunities: Proof-of-Stake;
- dominance in financial infrastructure: “trillions of dollars” in annual stablecoin transactions;
- long-term scalability: planned upgrades like Pectra.
“By including Ethereum in the corporate treasury, BGLC embraces the future of financial infrastructure,” stated its CEO Sam Tan.
The initiative was made possible by Wyoming’s regulatory framework, which allows for the holding of digital assets. The company has chosen this region for its headquarters.
BioNexus Gene Lab is evaluating further integration of blockchain technology into its technological operations.
“We are confident that this strategy will enhance BGLC’s financial resilience and attract forward-thinking investors who recognize the transformational potential of Ethereum,” the press release stated.
On-chain Picture
CryptoQuant noted that the MVRV metric has reached a zone of significant undervaluation, falling below 1.
ETH MVRV: Reaching a Highly Undervalued Zone
“When MVRV falls below 1, it signals entry into an undervalued zone in the cycle, indicating an opportunity to buy at a level close to the average purchase price of all holders (including whale investors).” – By @MAC_D46035 pic.twitter.com/urj348TZng
— CryptoQuant.com (@cryptoquant_com) March 5, 2025
“This indicates an opportunity to open a long position at a level close to the average purchase price of all holders (including whales),” specialists explained.
CryptoQuant CEO Ki Young Ju wryly noted that the second-largest cryptocurrency behaves like a stablecoin, maintaining its value over the past four years.
“$ETH is a stablecoin,” says CryptoQuant’s CEO, pointing to Ethereum’s consistent price of $3,160 since 2021.#ETH #CRYPTO pic.twitter.com/5iSY3anuQr
— EHL?? (@i_amehl) January 14, 2025
Previously, experts observed a decline in Ethereum whales’ profits to bear market levels.
CryptoRank noted the impact of controversies within EF on the price of the second-largest cryptocurrency.
Earlier, Fidelity specialists described Solana as a “serious competitor” to Ethereum. A similar opinion was expressed by JPMorgan.