Bitmine and SharpLink Increase Ethereum Holdings Amid Price Surge
- Bitmine Immersion purchased a total of 56,575 ETH for approximately $245 million recently, raising its total holdings to over $9.27 billion.
- SharpLink Gaming transferred $379 million USDC to Galaxy Digital, indicating potential plans to increase its Ethereum treasury of $3.6 billion.
- The price of ETH rose by over 2% in the last day, reaching $4,411 after U.S. PPI inflation data showed a decrease to 2.6%.
- Trading volume for ETH surged by approximately 36% within the same period, reflecting heightened market interest.
The recent purchases by major treasury firms like Bitmine and SharpLink come as Ethereum’s price gains momentum following positive inflation data in the U.S., which has encouraged institutional investment.
With Bitmine acquiring over $200 million in ETH and SharpLink hinting at further investments, the market is witnessing significant activity that could influence future trends in Ethereum trading.(Source)
