ChainCatcher message, Coinbase Institutional research director David Duong posted on social media, "The demand for ETH is not over. Since the beginning of August, top ETH treasury reserve companies have accumulated over 795,000 ETH (approximately 3.6 billion USD), currently controlling more than 2% of the total ETH supply. Meanwhile, the newly raised 20 billion USD by BMNR has increased its total purchasing power to 24.5 billion USD."