BitMine Invests $70M in Ethereum Despite Market Crash
In just three days, BitMine injected nearly 70 million dollars into Ethereum. According to crypto analysts, this aggressive move contrasts with the atmosphere of doubt currently weighing on the market. More details below !
In brief
- BitMine buys $70M of Ethereum to reach 5% of the global token supply.
- Despite a bear market, BitMine anticipates an Ethereum supercycle similar to bitcoin’s.
BitMine targets 5% of the global Ethereum supply
BitMine acquired 23,773 ETH between Saturday and Monday. This represents about 70 million dollars according to the current Ethereum price .
The data shows two blockchain transactions :
- 16,693 ETH valued at $50.1 million ;
- 7,080 ETH worth approximately $19.8 million.
BitMine currently holds 3.7 million tokens in reserve . This makes it the undisputed leader in crypto treasury dedicated to Ethereum. Indeed, the company remains committed to its clear ambition: to control 5% of the global supply of ETH. Goal already reached at 62%.
Towards an Ethereum supercycle? Tom Lee believes so
According to BitMine president Tom Lee, Ethereum seems to be following the same trajectory as bitcoin in 2017. He thus mentions a crypto supercycle comparable to x100 growth of BTC since its inception.
To benefit from such a cycle, one must endure existential moments. In other words, the idea is to absorb the pain to reap later. BitMine exemplifies this principle. The company is increasing its exposure to Ethereum while the crypto market falters.
This bet is set in a moment of transition. It refers to the Ethereum blockchain which continues to attract smart contract projects. However, the lack of regulatory clarity blocks large funds. Result: institutional liquidity remains paralyzed despite overall bullish fundamentals.
In any case, one thing is certain: BitMine dares what others wait for. This massive accumulation of Ethereum could mark a turning point. If the market follows, the company will indeed establish itself as a central player in DeFi. Story to watch…
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.
You may also like
Trust Wallet Token (TWT) Price Forecast: Governance Enhancements and Growing Institutional Interest Transform Value Proposition
- TWT's 2026 growth stems from governance upgrades enhancing transparency and institutional partnerships like DWF Labs & PYUSD, boosting utility and institutional trust. - Price surged to $1.6 by October 2025 via Trust Premium incentives and stable liquidity infrastructure, with technical indicators suggesting potential upward movement. - Regulatory clarity under MiCA and IOSCO standards reduced compliance risks, positioning TWT as a "stable, utility-focused token" with clear governance and use cases. - Fu
Solana Sees Fresh Growth as x402 Daily Transactions Top 600K
Quick Take Summary is AI generated, newsroom reviewed. Solana's x402 transactions, an open protocol for internet-native payments (AI/API calls), surged back above $600,000 daily. This recovery indicates renewed demand and shows that developers and users did not abandon the network after a short dip in late November. x402 activity now represents 1% of all non-voting Solana transactions, confirming it as a visible and sustained part of the network's usage. Solana's low fees and high throughput are proving id
Cardano Slips Further as December Losses Deepen
Quick Take Summary is AI generated, newsroom reviewed. Cardano trades near $0.38, falling over 7% this week amid market-wide declines. A December 1 network outage and $7.98M in outflows have weakened confidence. Technicals show oversold RSI (35) and bottoming MACD, hinting at rebound potential. A bounce to $0.50 becomes likely if support holds and market sentiment improves.References X Post Reference
XRP ETFs Pull 756M in Inflows as Grayscale Boosts GXRP Holdings
Quick Take Summary is AI generated, newsroom reviewed. XRP ETFs have pulled in a total of nearly $756 million in net inflows since their launch in late November. Grayscale significantly increased its GXRP trust holdings by adding nearly $30 million XRP, now holding $64 million XRP. Vanguard officially began allowing its brokerage clients to access third-party crypto ETFs, including those tracking XRP. The steady inflow of institutional capital is absorbing supply without causing wild price swings, strength
Trending news
MoreCrypto prices
More
