In November 2025, Ethereum treasury purchases experienced a significant decline, with only 370,000 ETH acquired compared to a record high of 1.97 million ETH in August, marking an 81% drop. This sharp decrease indicates a rapid decline in the model due to reduced capital allocation and premiums in the Ethereum treasury market. Ethereum, a prominent blockchain network with its native digital currency ETH, sees various institutions and treasuries investing heavily by purchasing large amounts of ETH to influence the market. Analysts at Bitwise have described the current market condition as a “winner takes all” scenario, noting that the entity Bitmine holds 3.73 million ETH, surpassing the combined holdings of 68 other treasuries. Although November’s purchases still exceeded the new supply of 80,000 ETH, the gap between purchases and supply is narrowing quickly, suggesting a decline in demand or investors reducing their positions. This trend could lead to price stabilization or a decrease if it continues. The notable reduction in Ethereum treasury purchases may signal market instability, urging investors to exercise caution, as these developments could profoundly impact investment strategies within the blockchain and cryptocurrency sectors.
Source: binance
