As Ethereum (ETH) steadily approaches its all-time excessive (ATH), some trade leaders consider that the second-largest cryptocurrency by market capitalization will not be completely benefiting from natural demand. Moderately, it’s being “propped up” by Korean traders seeking to make a fast buck.
Ethereum Being Held Up By Korean Buyers?
In an X submit earlier right now, crypto entrepreneur Samson Mow made some fascinating observations on ETH’s present worth trajectory. The crypto government attributed ETH’s present heightened worth to Korean retail traders.
Particularly, Mow acknowledged 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 traders.
As well as, the founding father of AQUA Pockets stated ETH traders should not absolutely conscious of the ETH/BTC chart, and are underneath the misunderstanding that they’re shopping for the “subsequent Technique.” He cautioned that it’ll not finish properly for ETH traders.
To recall, Technique is the main public firm with regards to the quantity of Bitcoin (BTC) held on its stability sheet. In line with knowledge from Coingecko, Technique at present holds 640,031 BTC, value greater than $48 billion at prevailing market costs.
With regards to Ethereum-based treasury companies, BitMine leads the pack, holding greater than 2.5 million ETH value roughly $12.4 billion. Different 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 checklist.
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 big 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 international markets. This premium arises from robust native demand, restricted capital stream out of Korea, and regulatory boundaries that stop straightforward arbitrage between Korean and worldwide exchanges.
On-Chain Information Recommend Robust Demand For ETH
In distinction to Mow’s opinion, on-chain knowledge reveals that each institutional and retail demand for ETH will not be exhibiting any indicators of slowing down. BitMine continues to stack ETH regardless of it buying and selling near its ATH territory.
On the similar time, ETH-based exchange-traded funds (ETFs) proceed to draw an rising quantity of inflows. Just lately, US-based spot ETH ETFs attracted document 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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