Based on Coinpaper, crypto treasury companies have nearly stopped purchasing Bitcoin and Ethereum since the market crash on October 10. The slowdown reflects growing caution in the sector, with Bitcoin buying activity reaching its lowest level of the year. Coinbase’s Head of Institutional Research, David Duong, noted that the inactivity signals uncertainty about market direction. Most firms are now guarding cash reserves amid falling valuations and leverage issues. However, BitMine Immersion Technologies has continued aggressive Ethereum buying, spending over $1.9 billion to acquire nearly 483,000 ETH since the crash. The absence of major buyers has raised concerns about market stability and increased risks during sharp price swings. Some companies, like Metaplanet, are trading below their net asset value, indicating reduced investor confidence in crypto holdings. Fidelity Digital Assets reported that non-mining public companies now hold over 700,000 BTC and 3 million ETH combined.
Crypto Treasuries Halt Bitcoin and Ethereum Buys After October Market Drop
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