Analyst: The strong performance of ETH is driven by increased holdings from treasury companies, but it remains to be seen whether it can maintain high capital inflows.
BlockBeats news, on September 4th, according to The Block, Presto research analyst Min Jung stated that the market's buying pressure is mainly maintained by the continuous accumulation of digital asset treasury companies (DAT), and attributed the significant rise of Ethereum on Wednesday to this trend. Jung said, "ETH has performed excellently again, likely benefiting from the capital flow also driven by DAT. However, we remain cautious about the sustainability of this theme and DAT's ability to maintain high purchasing volumes." The analyst also pointed out that capital is continuously rotating from Bitcoin to Ethereum, as traders believe that Ethereum offers more profit opportunities after Bitcoin reached an all-time high in July and August.
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Analyst: The strong performance of ETH is driven by increased holdings from treasury companies, but it remains to be seen whether it can maintain high capital inflows.
BlockBeats news, on September 4th, according to The Block, Presto research analyst Min Jung stated that the market's buying pressure is mainly maintained by the continuous accumulation of digital asset treasury companies (DAT), and attributed the significant rise of Ethereum on Wednesday to this trend. Jung said, "ETH has performed excellently again, likely benefiting from the capital flow also driven by DAT. However, we remain cautious about the sustainability of this theme and DAT's ability to maintain high purchasing volumes." The analyst also pointed out that capital is continuously rotating from Bitcoin to Ethereum, as traders believe that Ethereum offers more profit opportunities after Bitcoin reached an all-time high in July and August.