Ethereum Purchases by Corporations Plunge 80% from Peak, Bitwise Highlights

According to data released by digital asset management firm Bitwise on the 2nd, corporate purchases of Ethereum in November amounted to 370,000 ETH, an 81% decrease from the peak of 1.97 million ETH in August.

Max Shannon, a senior research associate at the firm, noted, 'The treasury strategy was this cycle's version of alt season, but it is unfolding in a pattern similar to past cycles. As alternative investment options increase, the same pool of funds cannot sustain demand.'

While corporate purchases of Ethereum still exceed the monthly supply of about 80,000 ETH, the gap is rapidly closing, indicating a slowdown in treasury...