As the competition to accumulate Ethereum (ETH) among U.S. listed companies intensifies, their ETH holdings have surpassed 15 trillion won. With ETH emerging as a new store of value, its market share in the overall cryptocurrency market is also showing a rebound.
According to the data platform Strategic Ethereum Reserve, as of 4 PM on this day, the total ETH holdings of U.S. listed companies are 2,956,084, equivalent to 10.8 billion dollars (approximately 15.12 trillion won). This is a 5,206% surge from the mere 200 million dollars (about 277.8 billion won) in holdings on April 4th.
Bitmain holds the largest ETH holdings. The company added about 200,000 ETH the previous day, increasing its total holdings to 833,100 ETH. From its initial holdings of about 160,000 ETH on July 9th, it has expanded its holdings by more than 5 times in less than a month. At current market rates, this is over 3 billion dollars (approximately 4.1688 trillion won).
Bitmain, a BTC mining company, appointed Tom Lee, a famous Wall Street market strategist, as board chairman in June and is pursuing a strategic shift to make ETH a core financial asset. Their goal is to secure 5% of ETH's total supply. Bitmain continues its aggressive ETH accumulation, making weekly ETH holdings a key performance indicator.
Sharplink, the second-largest ETH holder after Bitmain, is estimated to have additionally purchased 18,680 ETH on the same day. Blockchain data analysis company LookOnChain disclosed the ETH purchase details of a wallet address presumed to be Sharplink through its X account. This brings Sharplink's total ETH holdings to 498,711.
The market interprets this accumulation competition as a signal showing ETH's evolving status as a store of value. Particularly, with recent stablecoin legislation in major countries like the U.S. and the rapid market growth, ETH's importance is being highlighted. According to DeFi Llama, 50.48% of currently circulating stablecoins are Ethereum-based.
Regarding this, Chairman Tom Lee emphasized, "The financial services industry and cryptocurrency industry are increasingly converging, and stablecoins are the starting point. It's important to accumulate ETH, which forms the basis of stablecoins, and create projects with influence on the Ethereum network."
Driven by large-scale corporate purchases, ETH prices are also rising. While the cryptocurrency market was generally flat, with BTC declining 0.22% as of 4 PM, ETH rose by about 3%. It is also absorbing some of BTC's market share. According to CoinMarketCap, while BTC's market share dropped by 3.69%, ETH's market share increased by 2.56%, approaching a 12% recovery in 7 months.
- Reporter Kim Jung-woo
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