According to the latest data, nearly all of the Ethereum accumulated by publicly listed companies has been concentrated in a three-month window from July to September.
Meanwhile, several executives in the crypto industry predict that the price of Ethereum will rise by as much as 200% before the end of the year.
Bitwise Invest stated on Wednesday, "95% of all Ethereum held by publicly listed companies was purchased in the last quarter," noting that the $19.13 billion worth of Ethereum held by these companies accounts for about 4% of the total supply of Ethereum.
Bitwise data shows that as of September 30, the amount of Ethereum on the balance sheets of publicly listed companies reached 4.63 million, with about 4 million being newly added in the third quarter.
The concentration of Ethereum purchases in the third quarter has sparked market attention on Ethereum's performance in the fourth quarter of 2024. CoinGlass data indicates that historically, Ethereum's average performance in the fourth quarter has been the second worst of the year.
Before last Friday's significant sell-off in the crypto market, Ethereum was trading above $4,300. This sell-off led to a total market liquidation of $19 billion. According to CoinMarketCap, Ethereum has now fallen below the critical $4,000 mark, currently priced at $3,980.
However, with the changing trends in corporate treasury holdings, some analysts expect Ethereum's performance in the fourth quarter to surpass previous years.
StrategicETHReserve data shows that as of the time of writing, BitMine Immersion Technologies holds the largest share of Ethereum at approximately 3.03 million, followed by Sharplink Gaming with 840,120 and The Ether Machine with 496,710.
Arthur Hayes, co-founder of BitMEX, and Tom Lee, chairman of BitMine, both predict that Ethereum will reach $10,000 by the end of the year, with Lee also suggesting it could rise to $12,000.
Joseph Chalom, co-CEO of Sharplink Gaming, stated on Wednesday that he is optimistic about Ethereum, considering it "the best choice for institutions."
Chalom mentioned that Ethereum is decentralized, secure, and the network continues to grow.
In an interview with Cointelegraph Magazine, Chalom said that one of Sharplink Gaming's top priorities is "to raise funds and accumulate as much Ethereum as possible."
Analysts also pointed out that besides corporate treasury purchases, the ongoing inflow of U.S. spot Ethereum ETFs and a large amount of Ethereum locked in staking contracts are also significant factors driving the price increase.
Merlijn The Trader posted on the X platform on Wednesday, stating, "40% of the total supply has disappeared from circulation. This is precisely the prelude to the Ethereum supercycle."
Michaël van de Poppe, founder of MN Trading Capital, stated on Wednesday, "The ETH and BTC market is just getting started."
Van de Poppe remarked, "The first round of increases has already occurred, just like in 2019." He explained, "The potential for further increases is enormous, and we don't need to speculate too much on its possibilities."
"But it will definitely come," van de Poppe added.
Related: BNB Price Analysis: "Double Top" Pattern Warns of Possible 30% Decline
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