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Corporate Ethereum Purchases Drop 81% from August Peak, Says Bitwise

Bitwise data shows November’s corporate ETH buying fell sharply but remains above monthly supply levels, echoing past market cycle patterns.

ETH

Summary

Bitwise reported corporate purchases of Ethereum totaling 370,000 ETH in November, marking an 81% decline from August’s peak of 1.97 million ETH. Senior Research Associate Max Shannon indicated the decrease aligns with historical patterns where interest spreads to alternative investments, reducing concentrated demand. Despite the drop, November’s corporate acquisitions still exceeded Ethereum’s monthly supply of approximately 80,000 ETH.

Terms & Concepts
  • Ethereum (ETH): A leading blockchain platform supporting decentralized applications and smart contracts, with ETH as its native cryptocurrency.
  • Monthly supply: The amount of new cryptocurrency issued or mined in a given month, influencing market dynamics.
  • Alternative investments: Assets outside traditional stocks and bonds, such as cryptocurrencies, commodities, or private equity, which can shift investor demand.