As the crypto market goes through a phase of uncertainty, BitMine, one of the largest institutional holders of Ethereum, has just made a massive purchase of 48,049 ETH, or around $140 million. This operation, confirmed by on-chain data, comes after a recent investment of $320 million in ETH and underlines a clear strategy: accumulate despite falling prices.
In brief
- BitMine strengthens its treasury with $140 million in ETH, despite a drastic drop in price.
- BlackRock is also moving $140 million in ETH, suggesting an institutional trend toward increased trust in Ethereum.
- ETH remains under pressure with key supports at $2,800 and $2,500, but moves from BitMine and BlackRock could indicate a future rebound.
BitMine adds $140 million worth of ETH to its treasury
BitMine does not hide its ambitions on Ethereum. After recently investing $320 million in ETH, Tom Lee's company has just added 48,049 ETH to its crypto treasury, for an estimated amount of $140 million, bringing its treasury to $11.6 billion. This purchase, made via FalconX, was confirmed by sources like Arkham Intelligence and relayed by accounts on X (formerly Twitter).
This accumulation strategy is part of a long-term vision. Tom Lee, president of BitMine, has often reiterated that ETH is a strategic asset, particularly for its role in decentralized finance and emerging technologies like artificial intelligence. Despite the current decline in the crypto market, BitMine seems more convinced than ever of the potential of Ethereum. A conviction that could inspire other institutional actors to follow suit.
BlackRock transfers $140 million in ETH: coincidence or a trend?
While BitMine accumulates $140 million more ETHanother giant, BlackRock, recently transferred $140 million from Ethereum to Coinbase Prime, according to recent reports. This movement raises questions: is it simple portfolio management or an anticipation of a rebound in the crypto market?
BlackRock, a global leader in asset management, is known for its strategic investments. This transfer could therefore be linked to the preparation of its crypto ETFs or to anticipation of the growing adoption of Ethereum by institutions. Like BitMine, BlackRock seems to see ETH as a promising asset, despite current fluctuations. These simultaneous moves could indicate a broader trend: crypto whales are betting on Ethereum, even in times of doubt.
Crypto: Ethereum down -25% from its peak, how much further can it fall?
Ethereum is currently going through a difficult time. Indeed, with a drop of 25% compared to its last peak and a slight fall of 0.87% over the last 24 hours, crypto investors are wondering: how much further can ETH go? According to the data, key supports are at $2,800 and then $2,500. A break below these levels could result in a fall towards $2,200.
Analysts are divided. Some predict a rebound to $7,500 in 2026, while others fear a difficult end to the year if institutional volumes do not follow. Macroeconomic factors, like the recent Fed rate cut, could play a key role. One thing is certain: Ethereum remains under surveillance, between hopes of a rebound and fears of a further decline.
BitMine and BlackRock, despite their different profiles, send a clear message: Ethereum remains an attractive asset, even in periods of decline. Their massive purchases raise a question: is this a “buy the dip” opportunistic or a deep conviction in the Ethereum crypto ecosystem? The answer, certainly in the coming days. But in your opinion, will ETH manage to rebound, or does this massive accumulation precede a further fall?
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