🐋 Total amount of $ETH held by companies and ETFs has reached an impressive 12M.
5.25M ETH of this amount is held by companies purchasing the cryptocurrency for their own reserves. The 11M mark was reached on August 27.
ETH purchases continue to be active, and the recent decline in the asset is only localized.
📊 Vitalik Buterin also called the low-risk DeFi sector the economic driver of the ecosystem.
He believes it could become for the network what search is for Google. Buterin compared this to a corporation's business model, where search and advertising generate the main revenue, funding other projects. He was previously skeptical of DeFi due to its risks and speculation, but now believes its main value lies in global access to payments and sustainable assets.
Low-risk DeFi could also support Ethereum by generating revenue for the development of non-financial applications, such as social media or identity systems.
