Ethereum News Update: "Institutional Surge in Ethereum Contrasts with Vitalik's Cautions on Decentralization"
- Ethereum sees renewed whale activity as a major address buys 1,110 ETH at $3,250, signaling institutional/whale accumulation amid market volatility. - BitMine (BMNR) adds $83M in ETH to its treasury, now holding 3.6M ETH (3% of supply), leveraging low costs and staking rewards to support its "dip buying" strategy. - Grayscale launches first U.S. Dogecoin ETF (GDOG), reflecting growing institutional crypto legitimacy, while Vitalik Buterin warns of decentralization risks from rising institutional control.
Ethereum (ETH) has experienced a resurgence in activity, as a significant whale wallet returned to the market after a three-month hiatus, acquiring 1,110 ETH at an average rate of $3,250,
BitMine’s approach highlights a wider pattern of “buying the dip,” as the company recently picked up 21,000 ETH and 82,353 ETH in November alone. Although BMNR’s ETH holdings are currently below its average purchase price of $3,120, the company’s treasury strategy depends on minimal operating costs and staking returns to endure the downturn. Tom Lee, the company’s chairman,
Institutional momentum is also being fueled by regulatory progress.
Yet, Ethereum’s swift embrace by institutions has sparked worries about its decentralization.
At the same time, whale movements present a mixed picture. While some large holders are accumulating, others are selling off.
Market indicators point to ongoing turbulence. Event contract data suggests there is a 70% probability that ETH could fall to $2,750 by year’s end, though technical analysts such as Mark Newton from Fundstrat believe a rebound to $3,700 is possible if the $3,000 support level is maintained. Longer-term projections differ, with some analysts expecting ETH to reach between $7,000 and $8,000 by late 2025, depending on ETF inflows and a planned network upgrade in December.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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