Wow, it's that time of the week again to check the ETH micro-strategy holdings data from various entities. This round of operations really has me a bit stunned.
Last week, BMNR increased their holdings by 190,500 ETH, but this number is surprisingly lower compared to before. The week prior, they increased by 317,000 ETH, and the week before that, they even crazily added 373,000 ETH. Now it suddenly drops to 190,500, and this decline is quite noticeable.
I feel that BMNR might be struggling to buy more, especially since their average holding price has already risen to around $3,850. Considering the current ETH price of $4,638, although there are still decent unrealized profits, the pressure to continue buying at a higher price is definitely not small.
The data for SBET hasn't come out yet, but looking at BMNR's situation, the pace of these institutions' increased holdings does seem to be slowing down. Perhaps the price has risen too quickly, and even these big players are starting to be cautious, as nobody wants to buy at high prices.
This situation is actually quite normal, after all, ETH has risen from a low point to the current price, and the institutions' cost is also continuously increasing. Now with an average price of $3,850, it indeed requires more courage to significantly increase their holdings.
Last week, BMNR increased their holdings by 190,500 ETH, but this number is surprisingly lower compared to before. The week prior, they increased by 317,000 ETH, and the week before that, they even crazily added 373,000 ETH. Now it suddenly drops to 190,500, and this decline is quite noticeable.
I feel that BMNR might be struggling to buy more, especially since their average holding price has already risen to around $3,850. Considering the current ETH price of $4,638, although there are still decent unrealized profits, the pressure to continue buying at a higher price is definitely not small.
The data for SBET hasn't come out yet, but looking at BMNR's situation, the pace of these institutions' increased holdings does seem to be slowing down. Perhaps the price has risen too quickly, and even these big players are starting to be cautious, as nobody wants to buy at high prices.
This situation is actually quite normal, after all, ETH has risen from a low point to the current price, and the institutions' cost is also continuously increasing. Now with an average price of $3,850, it indeed requires more courage to significantly increase their holdings.