Ethereum News Today: Ethereum Hits New ATH in Japan and South Korea Amid Institutional Demand Surge

Ethereum (ETH) has set a new all-time high (ATH) in both Japan and South Korea, reflecting a sharp rise in institutional demand and market confidence. In Japan, ETH reached 639,455 yen, surpassing its previous record of 632,954 yen on December 17, 2024. Similarly, in South Korea, the price hit 5,971,000 won, breaking the previous ATH of 5.9 million won set in December 2021 [1]. This surge is notable as it occurred despite the yen and won appreciating against the U.S. dollar, a condition typically linked to lower cryptocurrency prices [1]. Analysts suggest that the appreciation of local currencies does not explain the upward trend, making increased local demand the most plausible factor [1].

The bullish momentum is attributed to rising institutional adoption of Ethereum, with companies like Bitmine playing a pivotal role. Bitmine holds the largest Ethereum treasury globally, valued at over $2.9 billion, and its chairman, Thomas Lee, has publicly expressed plans to acquire and stake 5% of the total ETH supply [1]. This strategy mirrors that of the largest Bitcoin holder, Strategy, which owns over 628,946 BTC [1]. Additionally, U.S. President Donald Trump's executive order allowing cryptocurrencies in 401(k) retirement plans has contributed to growing institutional interest in Ethereum [1].

The growing demand in Japan and South Korea has the potential to influence global market dynamics. Ethereum currently trades at $4,173, but the strong performance in these Asian markets could drive a broader bullish trend, benefiting the entire ERC-20 ecosystem [1]. As institutional capital continues to flow into Ethereum, the asset may see further appreciation, especially with key players like Bitmine maintaining a long-term bullish stance [1].

The recent developments highlight Ethereum’s evolving role in the financial landscape and underscore the growing integration of blockchain technology into traditional investment portfolios. As more institutional investors adopt a crypto-adjacent approach, the pressure for regulatory clarity and infrastructure development will likely increase, potentially paving the way for further mainstream adoption [1].

Source: [1] title: Ethereum Breaks New ATH in Japan and Korea Following Surging Institutional Adoption (url: https://www.newsbtc.com/news/best-erc20-tokens-after-eth-ath-japan-korea/)