Ethereum Treasury Adoption Booms: 550,000 ETH Acquired By Corporates In A Month
Main Idea
Institutional interest in Ethereum (ETH) is surging, with corporations accumulating significant amounts of ETH, potentially leading to a supply shock as demand continues to grow.
Key Points
1. Ten Ethereum treasury firms have collectively acquired over 550,000 ETH (worth approximately $1.65 billion) in the past 30 days.
2. Demand for ETH is described as 'insane,' with new ETH treasury companies emerging weekly and aiming to increase their ETH purchases.
3. ETH treasury firms have acquired 0.5% of the total circulating ETH supply in the past month, moving some into DeFi contracts through staking.
4. Spot ETH ETFs have seen nine consecutive weeks of positive inflows, totaling $907 million as of July 11, with an additional $259 million by July 15.
5. ETH's price was $3,018 at press time, down 0.9% in the past 24 hours.
Description
As the crypto market continues its upward trajectory – with total market capitalization briefly surpassing $3.8 trillion yesterday – institutional interest in Ethereum (ETH) has grown increasingly evident. A growing number of corporations are now accumulating ETH at an unprecedented pace. Ethereum Demand Showing No Signs Of Exhaustion According to an X post by crypto entrepreneur Kyle Reidhead, current demand for ETH has been “insane.” Specifically, ten Ethereum treasury firms have collectively ...
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