Ethereum News: BitMine Added 7,500 ETH as ETF Inflows Kept ETH Price Hopes Alive
Key Insights:
- BitMine bought another 7,500 ETH worth about $14.61 million, adding to its growing Ethereum reserve.
- Spot Ethereum ETFs recorded a net inflow of $9.31 million, led by BlackRock’s ETHA fund.
- ETH Price fell 3.88%, but steady institutional buying has kept market attention on Ethereum.
Ethereum news is back in focus after BitMine bought another 7,500 ETH worth about $14.61 million. The purchase came as spot Ethereum ETFs posted another day of net inflows. Even with ETH trading lower, the latest buying has kept attention on the market and what could come next.
Ethereum News: BitMine Added More ETH to Growing Reserve
BitMine has increased its Ethereum holdings with the purchase of another 7,500 ETH valued at about $14.61 million. Onchain data shared by Onchain Lens showed the coins were moved from BitGo to a fresh wallet believed to be linked to the company. The wallet address used is 0x95dE268E950E582A239E350A800C050882612c44.
Per the Ethereum news, the latest purchase adds to BitMine’s growing Ethereum reserve. The company is led by Tom Lee and has become well known for buying large amounts of ETH. Because of that approach, many people in the crypto market now call BitMine the “Michael Saylor of Ethereum.”
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