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ethereum

Ethereum Treasuries “Propped Up” By $6 Billion In Korean Retail Money, Says Crypto Founder

Ash Tiwari
by Ash Tiwari
2 weeks ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As Ethereum (ETH) steadily approaches its all-time high (ATH), some industry leaders believe that the second-largest cryptocurrency by market capitalization is not entirely benefiting from organic demand. Rather, it is being “propped up” by Korean investors looking to make a quick buck.

Ethereum Being Held Up By Korean Investors?

In an X post earlier today, crypto entrepreneur Samson Mow made some interesting observations on ETH’s current price trajectory. The crypto executive attributed ETH’s current heightened price to Korean retail investors.

Related Reading: BitDigital Becomes First Public Ethereum DAT To Deploy Unsecured Leverage – Details

Specifically, Mow stated that approximately $6 billion worth of Korean retail capital is supporting Ethereum prices. Mow blamed ETH influencers who are reportedly traveling to South Korea to market the digital asset to retail investors.

In addition, the founder of AQUA Wallet said ETH investors are not fully aware of the ETH/BTC chart, and are under the false impression that they are buying the “next Strategy.” He cautioned that it will not end well for ETH investors.

To recall, Strategy is the leading public company when it comes to the amount of Bitcoin (BTC) held on its balance sheet. According to data from Coingecko, Strategy currently holds 640,031 BTC, worth more than $48 billion at prevailing market prices.

When it comes to Ethereum-based treasury firms, BitMine leads the pack, holding more than 2.5 million ETH worth approximately $12.4 billion. Other firms like SharpLink Gaming (838,728 ETH), Coinbase ((136,782 ETH), Bit Digital (120,306 ETH), and ETHZilla (102,246 ETH) round up the top five in the list.

There are several signs that the Ethereum trading market in South Korea may be reaching overbought levels. For instance, the ETH “Kimchi premium” surged to 1.93 on October 5, a significant surge from -2.06 observed in July 2025 when the cryptocurrency traded below $3,000.

For the uninitiated, the Kimchi premium refers to the price difference where cryptocurrencies trade at higher prices on South Korean exchanges compared to global markets. This premium arises from strong local demand, limited capital flow out of Korea, and regulatory barriers that prevent easy arbitrage between Korean and international exchanges.

On-Chain Data Suggest Strong Demand For ETH

In contrast to Mow’s opinion, on-chain data shows that both institutional and retail demand for ETH is not showing any signs of slowing down. BitMine continues to stack ETH despite it trading close to its ATH territory.

Related Reading: Ethereum Sharp Exchange Outflows Sparks A Historic Supply Squeeze, Here’s What It Means

At the same time, ETH-based exchange-traded funds (ETFs) continue to attract an increasing amount of inflows. Recently, US-based spot ETH ETFs attracted record inflows worth $547 million. At press time, ETH trades at $4,701, up 4.4% in the past 24 hours.

ethereum
Ethereum trades at $4,701 on the daily chart | Source: ETHUSDT on TradingView.com
Featured image from Unsplash.com, chart from TradingView.com
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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