Bitwise: Since mid-May, ETH demand has been 32 times its supply, driving the surge in ETH prices
According to ChainCatcher, Bitwise tweeted: "Since mid-May, ETPs (exchange-traded products) and publicly listed companies have purchased a total of 2.83 million ETH, while only 89,000 ETH have been newly issued on the Ethereum network."
"This means that demand is 32 times greater than supply, which is exactly why the price of ETH has surged."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Anthropic seeks to raise its valuation to over $150 billion
Ethereum’s net supply increased by 17,333 in the past 7 days, with an annual supply growth rate of 0.748%
Trader Eugene: With BTC Regaining the $120,000 Mark, ETH Is Poised to Break Through $4,000
Trending news
MoreCrypto prices
More
