Bitwise's latest data shows that Ethereum treasuries (DAT) only purchased 370,000 ETH in November, an 81% plunge compared to the August peak of 1.97 million ETH. The treasury model, once seen as the driving force for this cycle's 'altcoin season,' is rapidly fading. Bitwise pointed out that mNAV continues to decline, purchasing power is weakening, and smaller treasuries are falling into a death spiral due to their inability to secure funding. Bitwise warns that if buying pressure continues to drop, Ethereum's structural demand will disappear—'the tide has already started to recede.' (DL News) http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=52852