In the last 30 days, over ten companies have acquired 550,000 ETH worth $1.65 billion, which indicates a significant demand for Ether as a treasury asset.
Growing Interest in Ether as a Treasury Asset
According to crypto entrepreneur Kyle Reidhead, there is a rising interest from companies in purchasing Ether (ETH) as a treasury asset. This shift is occurring as over 100 companies have already purchased Bitcoin (BTC) for their reserves, but many are now turning to Ether. Reidhead noted that this process is still in its early stages, and accumulation rates are expected to increase in the coming months.
Sharplink Becomes Largest Holder of Ether
Sharplink Gaming continues to be one of the largest buyers of Ether, having acquired 75,000 ETH in just five days. Their current holdings exceed 290,000 ETH, allowing them to surpass the Ethereum Foundation, which holds roughly 242,000 ETH. After purchasing 10,000 ETH from the foundation, Sharplink's reserves significantly increased.
Ether Market Condition and Its Fluctuations
Despite the active accumulation, the price of Ether has dropped by 2%, pulling it below the $3,000 mark. However, over the last 7 days, ETH has increased by 16%, and in the past 3 months, its growth has been 90%. Despite the recent drop, it is expected that the price will rise again above this level.
Amidst significant accumulation of Ether by companies and general market trends, the future of Ether remains uncertain, yet current data suggests positive long-term changes.
