The facility’s heat from Ethereum’s native cryptocurrency, Ether (ETH), is consolidated as one of the major trends in the current market.
A sign that confirms this financial phenomenon what The 2.73 million ETH, worth $10 million, is located in the Ministry of Corporate Treasury.
The main ETH holder is Bitmine Immersion. This is a company that abandoned Bitcoin mining to focus on Ethereum’s currency accumulation. Currently he owns 625,000 ETH, worth $2.42 billion.
In second place you will see Sharplink (SBET), the company cited on Nasdaq.
The following graph, provided by the Strategic ETH Reserve Portal, illustrates the 15 major enterprises and institutional treasures of ETH. There are public contributors, foundations, DAOs and even the US government.
In this regard, Geoffrey Kendrick, Global Digital Asset Research Director at Standard Chartered, highlighted that. Companies have accumulated 1% of all ETH in circulation since June.
In that sense, he said it is roughly equivalent to the 2 million ETH acquired by the manager of funds cited in the Stock Market (ETF) over the same period. «ETH Ministry of Finance has barely started. They will probably increase their value from now on,” Kendrick said.
The specialist also emphasized that “If the flow continues, ETH could exceed the $4,000 key level in 2025.”
As reported by Cryptootics, companies are interested in accumulating ETH Because they can generate about 3% extra income per year (paid in ETH).
For example, SBET reported on July 29 that the reward for this mechanism reached 722 ETH, totaling $2.78 million at today’s prices.
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