Another institution is buying ETH.

BitMine appears to have increased its holdings by another 40k ETH, worth approximately $71.62 million.

Many people see news like this and only focus on:

Has ETH gone up again or not?

But I'm focusing on something else.

Over the past few years,

when institutions allocate digital assets, there has been almost only one answer:

BTC.

Now,

more and more institutions are taking the initiative to allocate ETH.

What does this mean?

It shows that in the eyes of some institutions,

ETH is no longer just a cryptocurrency.

It is beginning to have the attributes of a strategic reserve asset.

Of course,

buying 40k ETH at once

does not determine the market trend.

What is really worth paying attention to is:

Is this kind of buying becoming a trend?

If more and more listed companies, funds, and asset management institutions begin to continuously increase their holdings of ETH,

then the logic of market pricing will change.

Prices are determined by emotion in the short term.

But in the long term, they are determined by the flow of chips.

When more and more long-term capital puts ETH on their balance sheets,

the circulating chips on the market will naturally become scarce.

Many people stare at the K-line charts every day.

But what really affects prices over the next few years

are often these seemingly inconspicuous on-chain accumulation news. #GUSD年化升至3.8%