Ethereum treasury trade unwinds 80% as handful of whales dominate buys
Corporate Ether acquisitions have sharply declined, but a few large holders continue significant accumulation.Summary
Investments from Ethereum Digital Asset Treasuries (DATs) have fallen by 81% over the last three months, dropping from 1.97 million ETH in August to 370,000 ETH in November, indicating a general unwinding of the corporate ETH accumulation trend. Despite this slowdown, a handful of major players, or 'whales,' continue aggressive buying. BitMine Immersion Technologies, the largest corporate holder, accumulated approximately 679,000 ETH in the past month, achieving 62% of its goal to hold 5% of the total ETH supply, and holds significant cash reserves for further purchases. Additionally, other entities like Republic Technologies are raising capital, such as a $100 million convertible note offering with favorable terms, to fund future Ether acquisitions, suggesting that financially strong companies are still committed to accumulating the cryptocurrency.
(Source：Cointelegraph)