Bitmine Immersion Technologies, chaired by Tom Lee, purchased an additional 52,203 ETH worth about $92 million, increasing its total holdings to 5.67 million ETH. Despite the current Ethereum price near $1,733 being well below Bitmine's average cost of $3,440 per ETH, resulting in a $9.5 billion unrealized loss, the company continues to buy more, betting on future price recovery. Bitmine funds these purchases partly through issuing preferred stock with a 9.5% dividend, a risky move given the depreciated asset value. Holding 4.7% of Ethereum's total supply, Bitmine's large position could significantly influence the market, making it a key factor for investors to watch.
Bitcoin held steady around $65,500 while Ethereum surpassed $1,900 for the first time since February, amid softer-than-expected inflation data that boosted stock markets. Despite geopolitical tensions with Iran, investors showed cautious optimism, wi...
Bitcoin is recovering after a long downtrend, stabilizing around $65,000 and aiming to break key resistance levels at $68,500 and $74,500. Ethereum is performing better, approaching its 100-day EMA resistance near $1,944 with strong buying momentum. ...
Ethereum's new 'Strawmap' draft roadmap outlines seven major upgrades by 2029 aiming to reduce transaction finality from 16 minutes to as little as 6 seconds and increase Layer 1 throughput to 10,000 transactions per second. The plan includes advance...
Ethereum rose following a U.S. inflation report showing slower CPI growth, which weakened the dollar and boosted risk assets. Binance saw over $1.2 billion in Ethereum buy volume, pushing prices near $1,895. However, the rally lost steam as Bitcoin a...
SPX6900 surged over 12% in 24 hours driven by a 62% volume increase and strong buying from Solana whales, who raised holdings by 65%. Ethereum network activity also picked up, with transfers nearly quadrupling and transactions doubling, supporting th...
