As Ethereum (ETH) steadily approaches its all-time excessive (ATH), some trade leaders imagine that the second-largest cryptocurrency by market capitalization isn’t completely benefiting from natural demand. Somewhat, it’s being “propped up” by Korean traders seeking to make a fast buck.
Ethereum Being Held Up By Korean Traders?
In an X submit earlier at present, crypto entrepreneur Samson Mow made some attention-grabbing observations on ETH’s present value trajectory. The crypto government attributed ETH’s present heightened value to Korean retail traders.
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 traders.
As well as, the founding father of AQUA Pockets mentioned ETH traders will not be 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 effectively for ETH traders.
To recall, Technique is the main public firm with regards to the quantity of Bitcoin (BTC) held on its steadiness sheet. In line with information from Coingecko, Technique at the moment 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 checklist.
There are a number of indicators that the Ethereum buying and selling market in South Korea could also be reaching overbought ranges. For 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 under $3,000.
For the uninitiated, the Kimchi premium refers back to the value 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 circulate out of Korea, and regulatory obstacles 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 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 similar time, ETH-based exchange-traded funds (ETFs) proceed to draw an growing 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% prior to now 24 hours.
Featured picture from Unsplash.com, chart from TradingView.com
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