According to Odaily Planet Daily, Coinbase analyst David Duong stated that demand for ETH is not over yet. Since the beginning of August, leading ETH treasury reserve companies have accumulated over 795,000 ETH (approximately $3.6 billion), currently controlling over 2% of the total ETH supply. Meanwhile, BMNR's newly raised $20 billion in funds has brought its total purchasing power to $24.5 billion.