Abraxas Capital purchased 73,872 ETH worth $173.17 million from Binance.
The tokens represent shares held by regulated custodian Alpaca and can be traded or used in decentralized finance applications on Base.
Tom Lee's BitMine buys $81 million in Ethereum as ETH breaks $2,500. The company now holds 5.85 million ETH, nearing its 5% supply target.
Ethereum has gained about 31% in seven days, reviving expectations of a broader altcoin rotation. Yet BlockchainCenter's index remains at 43, below the 75 threshold needed for altseason. Bitcoin still controls more than 59% of total market value, showing that capital has not fully rotated.
BMNR gains as Bitmine expands its Ethereum treasury and staking position
EIP-8130 could streamline Ethereum's account abstraction, enhancing cross-chain compatibility and reducing transaction costs significantly. EIP-8130 proposed as simpler model for Ethereum account abstraction.
Bitmine is about 187,000 Ethereum short of its 5% of supply target.
Over the past seven days, Ethereum has seen its fortunes take a turn for the better as it has risen by nearly 31% and currently trades around $2,495. However, despite this seven-day run, two of the most watched altcoin-season trackers have not been convinced to call it an altseason.
Bitmine Immersion Technologies (BMNR), the worlds largest Ethereum treasury company, accelerated its ETH accumulation last week, purchasing 32,447 ether as cryptocurrency prices rebounded. The latest Ethereum purchase is valued at roughly $81 million based on ETH trading near $2,500 on Monday.
ETH Accumulation: Bitmine increased its weekly buying pace with a 32,447 ETH purchase worth $81 million, pushing its treasury to 5.85 million tokens and reinforcing its long-running accumulation strategy. Market Momentum: Bitmine's holdings now equal 4.
Bitmine's near-completion of its Ethereum target highlights the growing institutional interest and potential shifts in crypto market dynamics. Bitmine hits 97% of its Ethereum target after latest buy.
A veteran Bitcoin miner has reversed his bearish view on Ethereum as ETH gains strength against BTC and institutional demand returns.