The market for ETH sucking the world has arrived, and now the entire network is watching Ethereum perform. Early this morning, it hit a new high for the year again. Now, off-market institutions are almost fighting each other. The latest disclosure from bmnr shows that the current holdings have reached 1.2 million. Last week it was 830,000, which means that this week they bought another 370,000. They are definitely far ahead.

sbet announced a new 400 million financing to increase its holdings of ETH. sbet's current holding amount has reached 598,800. Now, the mnav1 of bmnr and sbet is 1.89 and 1.12 respectively, both are in a period of rapid development, especially since bmnr clearly stated that its goal is to hold 5% of ETH, which means the holding amount will reach 6 million. Considering that ETH actually has an unlimited total supply, the final number may be even higher. It's important to note that this is just one company's reserve. If sbet, dynx, and a few others continue to compete, the crypto treasury could buy up 90% of the coins on the market, making ETH even rarer. Additionally, last night, the inflow of funds into the Ethereum ETF also set a record, reaching 1.02 billion dollars, with BlackRock contributing 640 million and Fidelity contributing 270 million. It seems that the buying power of the big brother and second brother is also increasing. In the future, the relationship between bmnr and BlackRock in ETH reserves may be similar to that of mstr and BlackRock, where public companies battle against national capital. Furthermore, as I mentioned yesterday, the bottom line requirement for state-level crypto reserves in the U.S. is 500 billion, so major players must ensure that the market value of Ethereum exceeds 500 billion. In short, the expectations for ETH had a considerable range last week. Little Black Arthur has already admitted defeat; he was bearish on the market last month and sold a lot of ETH, but these days he has been apologizing to Tom Lee and then bought back at a high price. This is a true trading master, immediately correcting mistakes when making judgments.