Ethereum accumulation pace slows… DAT firms' purchase volume halved in a month

JOON HYOUNG LEE

Summary

Bitwise reported that over the past month, DAT firms' Ethereum (ETH) purchase volume fell by 45%.
The slowdown in Ethereum buying is due to a price decline, and it reported that the price fell by about 16% compared with one month ago.
However, Bitmain reportedly continued accumulating, adding $2,130,000,000 worth of Ethereum.

*Trend of Ethereum (ETH) purchases by digital asset treasuries (DAT). Photo=Bitwise*

The Ethereum (ETH) purchase volume of digital asset treasuries (DAT) has reportedly halved over the past month.

On the 3rd (local time), according to Bitwise, DAT firms such as Bitmain and SharpLink saw Ethereum purchases fall from 670,000 in October to 370,000 last month, a drop of nearly 45%. In other words, purchases have effectively halved over the past month.

DAT firms' Ethereum purchases have been declining since August (1,970,000). Max Shannon, Bitwise's senior researcher, said, "The weakness among Ethereum DAT firms is persisting."

The slowdown in Ethereum buying is due in part to the recent price decline. Although Ethereum's price rebounded sharply that day, reclaiming the $3,000 level, it is down nearly 16% compared with one month ago.

However, the world's largest Ethereum treasury holder, Bitmain, has been steadily buying Ethereum. According to the Strategic Ethereum Reserve, Bitmain added $2,130,000,000 worth of Ethereum last month alone. Cointelegraph reported, "Bitmain holds an additional $882,000,000 in cash," noting "this means it could absorb more Ethereum."

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