BiyaPay Analyst: Bitcoin Outflow, Flowing into Ethereum? 6 US Stock Whales Revealed!
BlockBeats News, July 17th, an analyst from BiyaPay stated that while the market was still debating whether Bitcoin had reached its peak, funds had quietly poured into Ethereum on a large scale. The Ethereum spot ETF has seen continuous net inflows for 16 days, with strong institutional buying pressure. At the same time, on-chain staking lockups have accounted for nearly 29% of the circulating supply. The price briefly surged to $3200, doubling since April.
Pre-market, several ETH-related stocks skyrocketed, with SharpLink Gaming (SBET) seeing a monthly purchase of over $600 million worth of ETH, causing its stock price to double. Companies like BitMine (BMNR), BTCS, among others, have also joined the "hodl" camp. According to incomplete statistics, 13 major institutional investors hold a significant amount of Ethereum, with 6 of them being US-listed companies. Among these 6 US-held companies are: SharpLink Gaming (SBET), BitMine Immersion Technologies (BMNR), Coinbase Global (COIN), Bit Digital (BTBT), BTCS Inc. (BTCS), Ethereum Name Service (ENS), with their strategies covering DeFi, mining, domain protocols, and on-chain staking.
The six driving forces behind the strong rise in ETH include: on-chain deflation, ETF net inflows, macro interest rate cut expectations, favorable regulations, short covering, and ecosystem recovery. Several technical indicators also indicate that ETH may have initiated a new uptrend.
The Biyapay analyst recommended that for those looking to invest in "Ethereum beneficiary stocks" in the US stock market, BiyaPay supports USDT trading of US and Hong Kong stocks, eliminating the need to open an offshore account, allowing real-time global investment participation. It also supports over 200 types of spot contracts for digital assets with zero transaction fees, enabling you to enter and exit the market at low cost and high efficiency.
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