Sure enough, BMNR disclosed the data tonight, and taking advantage of this ETH pullback, the purchases accelerated!!



Increased from 1.15 million to 1.52 million over the past week, which means approximately 370,000 ETH were bought from the market, worth about 1.58 billion USD.

The old ETH whales, profit-seeking institutions, and early miners from the East are exiting, while the representatives from Wall Street in the West, such as MicroStrategy and other institutions, are continuously purchasing in the market.

Currently, about 5% to 6% of ETH is held by institutional listed companies, compared to 12% of Bitcoin, which is still too low.

It is now comparable to the moment before last year's Bitcoin was transformed by institutions. If you don't know how exaggerated this accelerated buying is, you can take a look at the chart below.
ETH-4.86%
BTC-2.99%
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