Ethereum outperforms Bitcoin as Bitmine buys 9,946 ETH
- Ethereum gained 24% in the past month, beating Bitcoin's 8% rise.
- BitMine increased its holdings with a purchase of 9,946 ETH.
- Spot Ethereum ETF inflows continue to support ETH demand.
Ethereum has extended its recent rally, outperforming Bitcoin over the past month as institutional demand continues to strengthen.
The latest boost came after BitMine Immersion Technologies announced another large Ethereum purchase, adding more ETH to its treasury and bringing its total holdings to 5,787,414 ETH.
Ethereum gains strength against Bitcoin
Ethereum has continued to outperform Bitcoin over the past month, highlighting renewed investor interest in the second-largest cryptocurrency.
The ETH/BTC ratio recently climbed to 0.03, marking its highest level in around three months.
The hike reflects Ethereum's stronger performance relative to Bitcoin rather than a decline in Bitcoin's price.
During the past 30 days, Ethereum gained approximately 24%, compared with Bitcoin's increase of around 8% over the same period.
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