Bitwise CIO Matt Hougan anticipates that increasing purchases from institutions and treasury firms will push Ethereum prices higher. Since mid-May, over 10 billion USD in ETH has been bought, outstripping new supply.
Ethereum’s performance has improved, with its ETH/BTC ratio climbing from 0.018 to 0.031 as Bitcoin’s market dominance fell from 66% to 61%. This indicates a robust demand for ETH, surpassing Bitcoin.
Corporate entities acquired more than 2.8 million ETH, with expectations that public companies will buy an additional 5.3 million ETH in the upcoming year, while only 0.8 million ETH will be issued.
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