As Ethereum (ETH) steadily approaches its all-time excessive (ATH), some trade leaders consider that the second-largest cryptocurrency by market capitalization isn’t fully benefiting from natural demand. Reasonably, it’s being “propped up” by Korean traders seeking to make a fast buck.
Ethereum Being Held Up By Korean Traders?
In an X post earlier at this time, crypto entrepreneur Samson Mow made some attention-grabbing observations on ETH’s present value trajectory. The crypto govt attributed ETH’s present heightened value 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 mentioned ETH traders 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’s going to not finish effectively 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 response to information from Coingecko, Technique at present holds 640,031 BTC, value greater than $48 billion at prevailing market costs.
Relating 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 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 value distinction the place cryptocurrencies commerce at larger costs on South Korean exchanges in comparison with international markets. This premium arises from sturdy native demand, restricted capital stream out of Korea, and regulatory boundaries that stop straightforward arbitrage between Korean and worldwide exchanges.
On-Chain Information Counsel Sturdy Demand For ETH
In distinction to Mow’s opinion, on-chain information reveals 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 growing quantity of inflows. Not too long ago, US-based spot ETH ETFs attracted document inflows value $547 million. At press time, ETH trades at $4,701, up 4.4% up to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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