BitMine Expands Ethereum Holdings as Staked ETH Surpasses Half of Total Supply
- BitMine acquired an additional 20,000 ETH from BitGo, valued at $39.8 million.
- The firm aims to hold 5% of Ethereum’s total supply, having reached 72% of this target.
- Ethereum’s price is currently at $1,972, up by 1% in the last day but down 38.54% over the past month.
- Ethereum’s proof-of-stake contract now holds over 50.18% of the total historical ETH issuance for the first time.
- Aggregate realized cap flows for BTC and ETH have turned negative, while stablecoin growth remains neutral.
- Ethereum spot ETFs recorded net inflows of $48.63 million, with no outflows reported among nine ETFs.
The increase in staked Ethereum indicates a significant shift in market dynamics, as more than half of ETH is now locked away, limiting active trading supply during bear cycles.
With BitMine’s recent acquisition bringing its holdings closer to its goal, it underscores a growing trend in Ethereum accumulation amidst changing liquidity conditions.(Source)
