BitMine Immersion Technologies Chairman Tom Lee said the company will stop accumulating Ethereum once its holdings reach 5% of the cryptocurrency's supply, capping the strategy that made it ETH's largest corporate holder. Speaking at TOKEN2049 in Singapore, Lee said BitMine was already close to that limit and would not pursue an open-ended accumulation campaign.
BitMine bought Ether every week for more than 15 months, building a treasury of about 6.02 million ETH.
Justin Drake urged holders to move funds to unused addresses, while Vitalik Buterin counseled against a scramble and several critics pushed back.
Ethereum's recovery faces mounting pressure as weakening institutional demand and emerging AI security concerns test investor confidence.
Ethereum researcher Justin Drake warns AI-driven math could threaten ECDSA and urges holders to move gradually to fresh addresses.
Crypto Bunker is Justin Drake's plan for gradual fund migration, not proof that AI has broken Bitcoin or Ethereum cryptography.
The 98,089 ETH positions face liquidation at $2,446.48 and $2,424.47, increasing pressure around key market levels.
Ethereum treasury company BitMine Immersion plans to end its weekly ETH purchases once it reaches its target of owning 5% of the cryptocurrency's circulating supply. Speaking at TOKEN2049 in Singapore, Chairman Thomas Lee said BitMine needs approximately another 100,000 ETH to complete its accumulation strategy. The announcement comes as Ethereum faces pressure from ETF withdrawals and a sharp price decline, raising questions about demand as one of its largest corporate buyers approaches its purchasing limit. BitMine nears its Ethereum accumulation target Lee said BitMine reached its current position considerably faster than anticipated, building its holdings in a little over a year rather than the five years initially expected.
Ethereum's latest selloff has prediction markets pulling in three different directions. Ether fell through $2,600 on Wednesday as U.S. spot ether ETFs logged a sixth straight day of outflows, yet Myriad traders still give ETH a 73.7% shot at hitting $3,000 before $1,500.
Ether traded near $2,566.47 as Binance's spot order book showed an $18.43 million buy-side advantage at 2:06 a.m. ET Thursday.
Investor reallocation from Ethereum to Bitcoin ETFs suggests shifting confidence and potential volatility amid changing macroeconomic conditions. BlackRock ETF clients pull $116.05 million from Ethereum fund.
HashKey Cloud and BitGo expanded their partnership into ETH and SOL staking, institutional trading, custody and real-world asset tokenization.