As Crypto Market continued to rise as the total market capitalization exceeded $ 3.8 trillion yesterday, institutional interest in Ethereum (ETH) became more and more clear. More and more companies are accumulating ETH at unprecedented speeds.
Ether Leeum does not show signs of fatigue
According to the X POST of Crypto Entrepreneur Kyle Reidhead, the current demand for ETH was “crazy.” In particular, ten Etherum Financial Companies have accumulated more than 550,000 ETHs of $ 16.5 billion over the last 30 days.
Reidhead stressed that this momentum is accelerating without speed. He is being released every week, and the most of them will not yet enter the market.
Moreover, each company aims to buy more ETH than last week. If this trend continues, ETH purchases can be $ 2 billion next month, and then $ 3 billion a month.
This demand will inevitably tap at some point, but in the short term, it will not. In particular, Stablecoin supply growth and favorable digital asset regulations can encourage the company to add passwords to the conjugation table.
The stock price that begins on July 14 “EncryptionIn the United States, three major digital asset bills are expected to face parliamentary votes. This bill focuses on major issues such as the potential use of CBDC (Central Bank Digital Currencies) in Stablecoin regulations and monetary policies.
If you face a supply shock?
Reidhead added that over the last 30 days, ETH financial firms have packed 0.5%of the total circulatory ETH supply. These companies also moved ETH to Ethereum Distributed Finance (Defi) contract through Stacking or Lending.
Entrepreneurs also contrasted between the Treasury buyers and Ether Leeum ETF, and unlike the ETF, the financial company would not sell. Instead, they are doing their best to accumulate and maintain ETH in the long run. He said:
This will make a supply shock ETH In the next few months, there is no actual around it. fade ETH And the financial company pays your own attention.
Support this paper, data In SOSOVALUE, SPOT ETFS shows that you enjoyed the positive inflow of 9 consecutive weeks with $ 970 million in the week ending on September 11.
Another data point that strengthens the debate over the vague ETH supply shock is fast. depletion Exchange reserve. In other words, I pay some attention guarantee. In the press time, ETH falls 0.9% to $ 3,018 over the last 24 hours.
Chart of SOSOVALUE and TradingView.com
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