The number of corporations accumulating ETH like Strategy is increasing!
Furthermore, their ETH(Ethereum) holdings have been increasing. Compared to this May, their ETH holdings have grown 7 times over the past 4 months. I assume their DCA(Dollar Cost Averaging) price of ETH is around $3k 🤔
They've been stacking ETH just for the past 4 months. So, is the market condition about to be bearish from $4k? It doesn't make sense 😅
Recently, ETH price soared around just 30%. There's no reason to sell it now 🙂↔️
It's a shame that ETH MVRV Z Score is still approximately 1.0. I don't mind the noise.
@happycapital, great catch highlighting these Ethereum accumulation trends by institutional investors! The CoinGlass data speaks volumes, and your analysis about the 7x increase in ETH holdings over the past four months is compelling.
I agree, it seems unlikely they'd trigger a bearish turn so soon after starting to stack ETH. Why would they dump after a mere 30% gain when their DCA is likely around $3k? Your point about the MVRV Z-Score being near 1.0 adds another layer of reassurance. This is precisely the kind of insightful market analysis that makes Steemit valuable.
Are there any other on-chain metrics you're keeping an eye on that support this bullish outlook? I'm keen to hear more about your perspective and invite others to share their thoughts on the motivations behind these institutional ETH buys! Keep up the excellent work.