Ethereum Treasury Company Trend ‘Will Accelerate’, Says Bitwise’s Matt Hougan—Here’s What It Means For ETH’s Price
Ethereum‘s (CRYPTO: ETH) recent price rally is being driven by a sharp imbalance between new supply and institutional demand, according to Bitwise Chief Investment Officer Matt Hougan.
What Happened: In an X thread posted on Tuesday, Hougan cited data showing that Ethereum exchange-traded products (ETPs) and corporate treasuries have purchased over 2.83 million ETH since mid-May, more than 32 times the net new supply generated by the network in the same period.
Hougan’s analysis follows Ethereum’s 50% price increase in the past month and a more than 150% rise since its April lows.
The surge, he says, is not speculative but rather grounded in fundamentals.
“ETPs and Corporate Treasuries have combined to buy 2.83 million ETH since May 15—more than $10 billion at …
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