Ethereum Treasuries “Propped Up” By $6 Billion In Korean Retail Money, Says Crypto Founder
As Ethereum (ETH) steadily approaches its all-time high (ATH), some trade leaders consider that the second-largest cryptocurrency by market capitalization will not be fully benefiting from natural demand. Rather, it’s being “propped up” by Korean traders seeking to make a fast buck.
Ethereum Being Held Up By Korean Investors?
In an X post earlier in the present day, crypto entrepreneur Samson Mow made some attention-grabbing observations on ETH’s present worth trajectory. The crypto govt attributed ETH’s present heightened worth to Korean retail traders.
Specifically, Mow said that roughly $6 billion price of Korean retail capital is supporting Ethereum costs. Mow blamed ETH influencers who’re reportedly touring to South Korea to market the digital asset to retail traders.
In addition, the founding father of AQUA Wallet stated ETH traders will not be absolutely conscious of the ETH/BTC chart, and are beneath the misunderstanding that they’re shopping for the “subsequent Strategy.” He cautioned that it’ll not finish effectively for ETH traders.
To recall, Strategy is the main public firm in relation to the quantity of Bitcoin (BTC) held on its steadiness sheet. According to information from Coingecko, Strategy presently holds 640,031 BTC, price greater than $48 billion at prevailing market costs.
When it involves Ethereum-based treasury companies, BitMine leads the pack, holding greater than 2.5 million ETH price roughly $12.4 billion. Other companies like SharpLink Gaming (838,728 ETH), Coinbase ((136,782 ETH), Bit Digital (120,306 ETH), and ETHZilla (102,246 ETH) spherical up the highest 5 within the record.
There are a number of indicators that the Ethereum buying and selling market in South Korea could also be reaching overbought ranges. For occasion, the ETH “Kimchi premium” surged to 1.93 on October 5, a big surge from -2.06 noticed in July 2025 when the cryptocurrency traded under $3,000.
For the uninitiated, the Kimchi premium refers back to the worth distinction the place cryptocurrencies commerce at larger costs on South Korean exchanges in comparison with international markets. This premium arises from robust native demand, restricted capital move out of Korea, and regulatory boundaries that forestall simple arbitrage between Korean and worldwide exchanges.
On-Chain Data Suggest Strong Demand For ETH
In distinction to Mow’s opinion, on-chain information exhibits that each institutional and retail demand for ETH will not be displaying any indicators of slowing down. BitMine continues to stack ETH regardless of it buying and selling near its ATH territory.
At the identical time, ETH-based exchange-traded funds (ETFs) proceed to draw an rising quantity of inflows. Recently, US-based spot ETH ETFs attracted file inflows price $547 million. At press time, ETH trades at $4,701, up 4.4% previously 24 hours.