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Analysis: Ethereum Surge Driven by Skyrocketing Structural Demand
BlockBeats News, July 23rd. Bitwise Chief Investment Officer Matt Hougan stated in an internal memo on July 22nd that Ethereum is currently experiencing a "demand shock." Since May 15th, ETFs and newly established corporate treasuries have purchased approximately 2.83 million ETH, with a total value of about $10 billion—32 times the Ethereum network's output during this period. This supply-demand gap may continue to widen.
Hougan said that Ethereum has risen by over 65% in the past month and more than 160% since April. He believes this growth is mainly driven by a supply-demand imbalance rather than a shift in market sentiment. Hougan compared this situation to Bitcoin's market in 2024. Since the launch of the US spot Bitcoin ETF in January 2024, Wall Street funds, publicly traded companies (such as Strategy and Trump Media), and even some national governments have collectively purchased over 1.5 million BTC, while only about 300,000 BTC were mined during the same period, showing a fivefold excess demand.
Hougan stated that this fivefold demand advantage drove Bitcoin's price up by 155%, making it the best-performing major asset during that period. "Demand is five times supply. Sometimes things really are that simple," he wrote.
However, he also pointed out that Ethereum initially did not enjoy a similar advantage. In the first ten months since the ETF launch in July 2024, ETH ETFs purchased only about 660,000 ETH, with inflows totaling about $2.5 billion. During the same period, few publicly traded companies bought in, and the total ETH supply was 543,000. Therefore, Ethereum's performance lagged behind Bitcoin at one point.
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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins
On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.
Revenue: Expected to be between $39 million and $41 million, reaching a new company high.
Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.
Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.
Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.
In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.
In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.
As of December 31, 2025: The company holds 1,183 BTC.
As of February 28, 2026: Holdings increased to 2,118 BTC
Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC
DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation
DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.
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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins
On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.
Revenue: Expected to be between $39 million and $41 million, reaching a new company high.
Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.
Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.
Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.
In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.
In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.
As of December 31, 2025: The company holds 1,183 BTC.
As of February 28, 2026: Holdings increased to 2,118 BTC
Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC
DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation
DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.
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