ETH trades at $1622, up 3.22% in 24 hours while still below $1,750 resistance. The $1,500 support zone remains the key level watched by traders after multiple successful defenses.
Ethereum has fallen harder than Bitcoin, down nearly 70% from its high while the ETH/BTC ratio sits near multi-year lows.
Ethereum co-founder Vitalik Buterin published a detailed technical breakdown on Monday, calling cryptographic obfuscation the “final boss of cryptography” and laying out why solving it would let developers build nearly any trustless protocol imaginable.
Bitmine Immersion Technologies purchased approximately $43 million in Ethereum and added the tokens to its balance sheet, maintaining its buying pace despite ETH falling 8% over the past week. The firm now holds more than 5.7 million ETH valued at approximately $9 billion, along with roughly 206 Bitcoin worth $12.3 million.
Bitmine now holds 5.70 million ETH, accounting for about 4.7% of ethereum's total supply, bringing it close to its stated goal of holding 5%. The company also joined the Russell 1000 and began trading its preferred stock on the NYSE under BMNP. Bitmine Stakes 4.
Tom Lee linked recent crypto weakness to quarter-end window dressing as Bitmine added another $43 million in Ethereum.
BitMine Immersion Technologies continued adding to its Ethereum stockpile, even as its Bitcoin counterpart Strategy stood pat.
Ethereum whales sold $880 million in ETH as buyers fought to defend the crucial $1,560 support level.
Bitmine has increased its Ethereum holdings to more than 5.7 million ETH, bringing the company within reach of its stated goal of controlling 5% of the cryptocurrency's circulating supply.
Blockchain analytics firm Chainalysis has published an in-depth examination of a sophisticated exploit that drained at least $7.5 million from JaredfromSubway.eth, widely regarded as Ethereum's most active sandwich-attack operator.
BitMine's aggressive Ethereum acquisition strategy highlights the growing institutional interest in crypto, potentially influencing market dynamics. BitMine acquires 27,084 Ethereum for $43M as Tom Lee's firm pushes toward 5% supply target.
Bitmine Immersion Technologies (BMNR) disclosed total holdings of $9.8 billion across cryptocurrency assets, cash reserves, marketable securities, and associated investments. Shares finished the session at $13.56, representing a 1.80% gain, following intraday fluctuations.