#ETHBreaks3k Ethereum adoption surges at corporate level, with 550,000 ETH bought in just one month
Amidst the growing demand in the crypto market, institutional interest in Ethereum (ETH) is seeing a significant increase.
According to recent data, ten companies holding Ethereum treasury have purchased a total of more than 550,000 ETH in the last 30 days, worth about $1.65 billion.
According to crypto entrepreneur Kyle Redhead, this demand has reached “disturbing levels” and shows no signs of abating.
New Ethereum treasury companies are entering the market every week and they plan to buy more ETH than last week.
If this trend continues, purchases could reach $2 billion next month, and even $3 billion after that.
There are several factors behind this increasing demand, including stablecoins, These include increasing coin supply and favorable digital asset regulations, which encourage companies to add crypto to their balance sheets.
The “Crypto Week” in the US starting on July 14 is also important in this regard, where three major digital asset bills will be presented to Congress for a vote, including stablecoin regulations and central bank digital currencies (CBDCs).
Ethereum supply is also being impacted.
In the past 30 days, companies holding Ethereum treasuries have bought half a percent (0.5%) of the total circulating ETH and are using it as stake or loan in DeFi contracts.
These companies hold Ethereum as a long-term investment and do not tend to sell it, which is likely to put severe pressure on ETH supply in the coming months.
In this regard, SoSoValue data shows that spot ETH ETFs have It has seen nine consecutive weeks of positive investment, with $907 million added in the week ending July 11 alone.
However, some caution is warranted as Ethereum is currently trading slightly lower at $3,018.
Overall, Ethereum’s growing corporate adoption and limited supply could have a profound impact on its price and market stability in the future....
