Ethereum Treasuries Collapse: 80% Drop as Firms Flee! 🚀📉

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The once-vibrant Ethereum treasuries are now experiencing a rather dramatic and unseemly collapse. Purchases have dwindled by a staggering 80% in a mere three months, from 1.97 million ETH in August to a paltry 370,000 ETH in November, as companies retreat from the trend with the speed of a startled gazelle. 🐂

Bitwise, that venerable institution of financial wisdom, has issued a cautionary note, and many companies that were once eager to hoard Ether are now retreating with the speed of a startled gazelle. 🐆

In an earlier epoch, when the siren song of cryptocurrency was still fresh, companies rushed to acquire ETH for their balance sheets, emulating the Bitcoin treasury model. Bitmine, the indomitable Bitmine, under the sagacious leadership of Tom Lee, became the chief purchaser and still holds more ETH than all other firms combined. But most other companies are now struggling, their ambitions as fleeting as a candle in a hurricane. 🕯️

Weakening Ethereum Treasury Demand

Bitwise, ever the diligent observer, notes that premiums are plummeting, buying power is feeble, and smaller firms are unable to keep pace with the grander enterprises. Analyst Max Shannon, that paragon of insight, remarked that the treasury trend bore the unmistakable hallmarks of an “altseason,” but now the allure is waning. Treasury buying still exceeds Ethereum’s monthly supply of around 80,000 ETH, but the gap is closing like a well-manicured garden gate. 🌿

ETH DAT bear continues.

– Max Shannon (@cornMaxy) December 2, 2025 🐻‍❄️

Purchases have receded by over 80% in three months, while the influx of new ETH into the market remains as constant as the tides. The imbalance that once pushed prices up has vanished, leaving behind a void as empty as a crypto bro’s wallet. 💸

Bitmine Dominates the Ethereum Treasury Market

The treasury market, once a bustling bazaar of diverse participants, is now the exclusive domain of a single titan: Bitmine. It holds a staggering 3.7 million ETH (nearly $13 billion), a sum that would make even the most jaded investor blink in astonishment. With access to capital as vast as the Sahara, Bitmine can keep raising money and buying ETH, while smaller firms are left to gnaw on crumbs. 🍞

Without fresh capital, they cannot acquire ETH. Without acquiring ETH, they cannot entice investors. Their premiums descend, dilution escalates, and survival becomes an increasingly precarious endeavor. A tale as old as time, but with more graphs and fewer hugs. 📊

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2025-12-03 12:02