The data just disclosed by BMNR is quite impressive. Taking advantage of this dip at $ETH , I directly accelerated my buying.

From last week's 1.15 million coins to 1.52 million coins, in just a week, 370,000 ETH have been swept off the market, which is roughly equivalent to 1.58 billion dollars based on the price.

An interesting phenomenon can be observed:

The old ETH whales from the East, profit-taking institutions, and early miners are gradually exiting;

Meanwhile, Western Wall Street players and institutions like MicroStrategy are desperately taking over.

Currently, only about 5-6% of ETH is held by institutions and listed companies, compared to 12% of BTC, which is still relatively low. In other words, the institutionalization of ETH has just begun.

This feels reminiscent of the night before the change of hands in BTC last year, where the old players exited and new ones took over. BMNR's recent accelerated buying is the most intuitive signal. If you haven't realized how exaggerated the momentum is, just look at the chart below.