Bitwise: Since mid-May, the demand for ETH has been 32 times the supply, which is the reason for the surge in ETH prices
ChainCatcher message, Bitwise tweeted: "Since mid-May, ETPs (exchange-traded products) and listed companies have bought a total of 2.83 million ETH, while the Ethereum network has only issued 89,000 new ETH.
This means that demand is 32 times the supply, which is exactly why the price of ETH has skyrocketed."
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