Ethereum Sees Diverging Moves as Institutions Sell While Bitmine Builds a $5.2B ETH Treasury
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- Bitmine’s $5.26B Ethereum purchase signals major corporate pivot from Bitcoin.
- Whale wallets add 400K ETH as traditional funds reduce holdings amid volatility.
- Strong support at $3,700–$4,000 could fuel Ethereum’s rally toward $4,800.
Ethereum is witnessing a striking divergence in market behavior. While major funds like Fidelity, Grayscale, and Bitwise trimmed their Ethereum holdings, new data from Arkham reveals that Tom Lee and Bitmine Immersion Technologies have taken the opposite route.
Instead of reducing exposure, Lee’s company has aggressively accumulated ETH, transforming itself into one of the largest corporate holders of the asset. This growing divide highlights a broader debate among investors about Ethereum’s long-term role in the digital economy.
Bitmine’s Bold Bet on Ethereum
Bitmine, once focused primarily on Bitcoin mining, has dramatically shifted its strategy. Backed by investor Peter Thiel, the firm paused Bitcoin operations and allocated capital into Ethereum.
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The post Ethereum Sees Diverging Moves as Institutions Sell While Bitmine Builds a $5.2B ETH Treasury appeared first on Coin Edition.
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