Abraxas Capital purchased 13,000 ETH worth about $32.39 million to hedge a large short position of 141,180 ETH valued at $353.27 million on Hyperliquid. The firm is maintaining both the short and spot positions simultaneously as part of a market-neutral strategy to earn from the spread rather than price direction. This approach carries risks such as price divergence and funding rate changes but aims to profit in stable market conditions. The position has grown since August, reflecting a deliberate hedge rather than a bearish bet on Ethereum.
Bitmine Immersion Technologies purchased 28,086 ETH last week, worth about $69.4 million, bringing its total holdings to 5,929,198 ETH. The company aims to own 5% of Ethereum's total supply and needs around 171,000 more ETH to reach this goal. Despit...
Wintermute reports that despite recent volatility, Bitcoin's rally toward $80,000 is ongoing, driven by institutional investors and AI miners entering the market early. Unlike past cycles with steep crashes, this cycle shows a smaller drawdown, sugge...
BitMine Immersion Technologies has purchased an additional $70 million worth of Ethereum, acquiring 28,086 ETH in the past week. This brings BitMine's total Ethereum holdings close to 5% of the entire ETH supply, currently at 4.9%. Chairman Tom Lee r...
Ethereum traded near $2,475 on September 8, dropping about 0.7% as it remained stuck in a narrow range between $2,450 and $2,550. The market is cautious due to uncertainty over the Federal Reserve's potential interest rate hike, following stronger-th...
Ethereum's supply on all cryptocurrency exchanges has dropped to a multi-year low of about 14.88 million ETH as of September 8, 2026, down from over 21.3 million ETH in July 2025. This decline coincides with increased institutional demand, including ...
