As Etherrium (ETH) approaches ATH, some industry leaders believe that the second largest cryptocurrency by market cap is not entirely beneficial from organic demand. Rather, it is being “considered” that Korean investors are trying to make money.
Do Korean investors have Ether Leeum?
In X mail Earlier today, crypto entrepreneur Samson MOW made an interesting observation of ETH's current price trajectory. Crypto executives thought that ETH's current impression price was considered to Korean retail investors.
In particular, MOW said that Korean retail capital worth $ 6 billion is supporting Etherrium prices. MOW blamed ETH influential people traveling to Korea to market digital assets to retail investors.
In addition, the founder of Aqua Wallet said ETH Investors is not completely recognized by the ETH/BTC chart and is given a misconception that he is buying the next strategy. He warned that it would not end well to ethical investors.
The strategy to recall is the main public company in relation to the amount of Bitcoin (BTC) held in the balance table. According to Coingecko's data, the strategy is currently owned by 640,031 BTC and the market price is over $ 48 billion.
Bitmine, a financial company based on Ether Leeum lead The pack with more than 2.5 million ETH is about $ 12.4 billion. Other companies, such as Sharplink Gaming (838,728 eth), Coinbase ((136,782 eth), bit digital (120,306 eth) and ethzilla (102,246 eth), round the top five in the list.
There are several signs that Korea's Etherum trading market can reach the level of over -purchase. For example, ETH “Kimchi Premium” Surveyed At 1.93 on October 5, a significant surge was observed in July -2.06, when the cryptocurrency traded less than $ 3,000.
For those who are not initialized, Kimchi Premium refers to the difference in price that cryptocurrency is traded at a higher price on the Korean exchange compared to the global market. This insurance premium is caused by strong regional demand, capital flows with limited capital in Korea, and regulatory barriers to prevent arbitrage between Korea and international exchanges.
Hot chain data suggests strong demand for ETH.
Contrary to the opinion of MOW, according to chain data, institutional and retail demand for ETH does not show signs of speed slowdown. Bitmine Continue Despite the deal close to the ATH area, build up the ETH.
At the same time, ETF (ETH Based Exchange-Traded Funds) attracts continuous inflow. Recently US -based SPOT ETF Attracted Inflow of $ 557 million. In the press time, ETH has increased by 4.4% over the last 24 hours, to $ 4,701.
Chart of TradingView.com, the main image of unsplash.com
Editorial process focuses on providing thorough research, accurate and prejudice content. We support the strict sourcing standard and each page is diligent in the top technology experts and the seasoned editor's team. This process ensures the integrity, relevance and value of the reader's content.
