As Ethereum (ETH) steadily approaches its all-time excessive (ATH), some trade leaders imagine that the second-largest cryptocurrency by market capitalization just isn’t fully benefiting from natural demand. Slightly, it’s being “propped up” by Korean buyers seeking to make a fast buck.
Ethereum Being Held Up By Korean Buyers?
In an X submit earlier at this time, crypto entrepreneur Samson Mow made some fascinating observations on ETH’s present value trajectory. The crypto govt attributed ETH’s present heightened value to Korean retail buyers.
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 buyers.
As well as, the founding father of AQUA Pockets mentioned ETH buyers usually are not absolutely conscious of the ETH/BTC chart, and are beneath the misunderstanding that they’re shopping for the “subsequent Technique.” He cautioned that it’ll not finish nicely for ETH buyers.
To recall, Technique is the main public firm in the case of the quantity of Bitcoin (BTC) held on its stability sheet. In keeping with information from Coingecko, Technique at present holds 640,031 BTC, value greater than $48 billion at prevailing market costs.
In relation 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 listing.
There are a number of indicators that the Ethereum buying and selling market in South Korea could also be reaching overbought ranges. As an illustration, 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 under $3,000.
For the uninitiated, the Kimchi premium refers back to the value distinction the place cryptocurrencies commerce at larger costs on South Korean exchanges in comparison with international markets. This premium arises from robust native demand, restricted capital move out of Korea, and regulatory obstacles that forestall straightforward arbitrage between Korean and worldwide exchanges.
On-Chain Information Counsel Robust Demand For ETH
In distinction to Mow’s opinion, on-chain information reveals that each institutional and retail demand for ETH just 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 similar time, ETH-based exchange-traded funds (ETFs) proceed to draw an rising quantity of inflows. Just lately, US-based spot ETH ETFs attracted file inflows value $547 million. At press time, ETH trades at $4,701, up 4.4% prior to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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