Ethereum issues about 70,000 coins in a month... Institutions make a 'buying frenzy' of 3.5 million coins
Summary
- It was revealed that over the past 30 days, institutional investors have bought Ethereum in volumes 47 times higher than the new issuance.
- The supply shortage is reported to be a key driver of Ethereum's sharp price surge.
- Ethereum broke above the $4,700 mark during intraday trading, setting a new all-time high again.
Over the past 30 days, institutional investors have bought more than 47 times the amount of Ethereum (ETH) newly issued. Analysis suggests that this large influx of Ethereum, mainly by institutions, is driving a supply shortage and serving as a key force behind the sharp price increase.
According to on-chain data on the 14th (local time), corporations and institutions have purchased about 1.8 million Ethereum for reserves (treasury) over the past month. In addition, the amount bought through spot Ethereum ETFs reached approximately 1.7 million. Combined, this amounts to about 3.5 million ETH—more than 47 times the 74,000 Ethereum newly issued on the network during the same period.
As demand far outpaces supply, the price of Ethereum is surging. On this day, Ethereum broke past the $4,700 mark during intraday trading, reaching a new all-time high. Currently, Ethereum is trading at around $4,640, down 2.7% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀![Liquidity strains deepen as trading volume contracts and funds exit…Can altcoins rebound? [Kang Min-seung’s Altcoin Now]](https://media.bloomingbit.io/PROD/news/5fa259b1-0308-4c7b-9259-04f38ad8fc2a.webp?w=250)
