10 fund companies purchased 550,000 ETH within 30 days, worth $1.65 billion
Powered by ChatGPTOn July 15, Milk Road co-founder Kyle Reidhead posted on the X platform that in the past 30 days, 10 Ethereum funding companies have cumulatively purchased more than 550,000 $ETH, with a total value of approximately $1.65 billion, and the purchase speed is accelerating. Among them, SharpLinkGaming has purchased more than 75,000 $ETH (approximately $225.00 million) in the past 5 days. New $ETH funding companies are being established every week, and the scale of purchases is expected to continue to expand in the coming months. Reidhead pointed out that these funding companies are different from ETFs. Currently, they only buy and do not sell, and transfer the purchased $ETH (accounting for 0.5% of the circulating supply) to Ethereum DeFi smart contracts for staking or lending. This trend may lead to an $ETH supply crunch in the coming months, which will have a significant impact on the market. [TechFlow]