Currently, nearly $6 billion from Korean retail investors is supporting Ethereum’s incredible market power.
Approximately 68 companies hold 5.66 million ETH, controlling nearly 4.7% of the total supply.
Analysts note that Ethereum’s breakout from the daily bullish flag has set its sights on a price target of $6,650.
Ethereum’s dominance over Bitcoin is growing stronger, and recent data suggests that Korean retail investors are playing a key role in keeping the price strong. JAN3 CEO Samson Moh revealed that nearly $6 billion from South Korean retail capital is tied up in Ethereum government bonds, providing the main support for the ETH surge.
Korean retail investors drive ETH price
Mow revealed in a recent tweet post that much of Ethereum’s recent strength is not being driven by whales or institutions, but rather by everyday Korean investors known as Seohak Gemi who are pouring billions into ETH.
Capitalizing on this wave, Ethereum influencers are even flying to South Korea to connect with these retail investors, underscoring how important this market has become.
Additionally, Mow revealed that many of these buyers are chasing the next big crypto strategy without fully understanding the technical charts.
If Ethereum breaks above these levels, it could set a new price record and boost market confidence. This breakout sets the stage for the next big target at $6,650.
