Ethereum Updates: BitMine’s $13.7 Billion Reserves Stand Strong Amid Market Downturn, Aiming for 5% Share in ETH
- BitMine Immersion (BMNR) holds $13.7B in crypto, leading Ethereum treasury size with 2.8% supply control. - Aggressive ETH accumulation (662,169 tokens in 30 days) supports "5% strategy," backed by Ark Invest and Galaxy Digital. - Ethereum's $3,714 price lags technical indicators, while BitMine's $1.5B daily trading volume amplifies market influence. - Institutional partners anticipate post-Fusaka upgrade buying, but bearish macro trends cap retail price targets at $5,000.
BitMine Immersion (BMNR) has established itself as the leading public
The company’s most recent purchase, acquiring 7,660 ETH for $29.28 million through Galaxy Digital’s OTC desk, highlights its assertive acquisition approach, as reported by a
Ethereum’s price trends are currently mixed. While BitMine’s acquisitions have lent some short-term support, overall market indicators remain bearish. Ethereum is trading at $3,714, which is below its 30-day average of $3,847, and the Relative Strength Index (RSI) sits at 26.45, signaling oversold conditions, according to a
BitMine’s treasury also contains 192
Despite strong institutional backing, retail investors remain wary. Year-end price forecasts for Ethereum have dropped to $5,000, influenced by Federal Reserve policy and broader economic headwinds, Coinotag reported. Nevertheless, on-chain data reveals that over 60% of Ethereum’s supply is locked in illiquid wallets, which could help stabilize prices even as retail activity lags, the Coinotag article added.
BitMine’s stock liquidity further enhances its market impact. The company is the 60th most traded U.S. stock, with an average daily trading volume of $1.5 billion over the past five days, according to the Marketscreener announcement. Together with MSTR’s Bitcoin-centric approach, BitMine is responsible for 88% of global digital asset trading volume, showcasing its rapid growth in crypto net asset value per share, as reported by Crypto Economy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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