As Ethereum (ETH) steadily approaches its all-time excessive (ATH), some business leaders imagine that the second-largest cryptocurrency by market capitalization isn’t totally benefiting from natural demand. Reasonably, it’s being “propped up” by Korean buyers seeking to make a fast buck.
Ethereum Being Held Up By Korean Traders?
In an X publish earlier in the present day, crypto entrepreneur Samson Mow made some fascinating observations on ETH’s present worth trajectory. The crypto govt attributed ETH’s present heightened worth to Korean retail buyers.
Particularly, Mow said that roughly $6 billion value 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 buyers.
As well as, the founding father of AQUA Pockets mentioned ETH buyers aren’t absolutely conscious of the ETH/BTC chart, and are below the misunderstanding that they’re shopping for the “subsequent Technique.” He cautioned that it’ll not finish effectively for ETH buyers.
To recall, Technique is the main public firm relating to the quantity of Bitcoin (BTC) held on its stability sheet. In line with information from Coingecko, Technique at the moment holds 640,031 BTC, value greater than $48 billion at prevailing market costs.
With regards to Ethereum-based treasury corporations, BitMine leads the pack, holding greater than 2.5 million ETH value roughly $12.4 billion. Different corporations 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. As an example, the ETH “Kimchi premium” surged to 1.93 on October 5, a major surge from -2.06 noticed in July 2025 when the cryptocurrency traded beneath $3,000.
For the uninitiated, the Kimchi premium refers back to the worth distinction the place cryptocurrencies commerce at greater costs on South Korean exchanges in comparison with world markets. This premium arises from sturdy native demand, restricted capital circulate out of Korea, and regulatory boundaries that stop simple arbitrage between Korean and worldwide exchanges.
On-Chain Information Recommend Sturdy Demand For ETH
In distinction to Mow’s opinion, on-chain information exhibits that each institutional and retail demand for ETH isn’t exhibiting any indicators of slowing down. BitMine continues to stack ETH regardless of it buying and selling near its ATH territory.
On the identical time, ETH-based exchange-traded funds (ETFs) proceed to draw an rising quantity of inflows. Lately, US-based spot ETH ETFs attracted file inflows value $547 million. At press time, ETH trades at $4,701, up 4.4% previously 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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