The fluctuations in the crypto currency market reshape companies’ purchase strategies. Finally, Tom Lee’s finishing, Ethereum $4,644.03During the sudden price drop in the sudden purchase. Bitmine’s expansion of Ethereum portfolio is a remarkable development.
Ethereum took the decline
Bitmine’s new acquisition significantly increased the Ethereum assets, which were large without him. The company received 28,650 Ethereum during the price drop. This process is worth 130 million dollars in total and despite the risk of continuing the decline, almost like challenging. Following the last purchases, Bitmine’s total Ethereum presence was 1,174 million.
According to market data, the total value of the amount of Ethereum in the hands of Bitmine increased to approximately $ 5.26 billion after this last purchase. Since the company focuses on long -term targets in the investment strategy, it seems to have considered the decline in ETH price as an opportunity.
Bitmine’s decision to make Ethereum is important in terms of showing that investors can make large -scale moves despite significant price fluctuations in the crypto market. Currently, many ETH reserve companies have exceeded 10 billion dollars, and the total asset is aimed to overcome $ 70 billion in a few months, including ETF wallets.
The information provided by the data analysis company Arkham revealed the details of Bitmine’s last purchase. According to Arkham’s data shared by Lookonchain, he added a total of $ 130 million Ethereum to his end.
“Market conditions always change, we shape our strategic investments accordingly. Our confidence in Ethereum is based on long -term perspective,” he said.
Future of Ethereum
The positive passing of the meeting between Trump and Putin is supportive for ETH in the short term. Investors who reduce their risks with the concern that interest rate cuts can be postponed after the latest PPI data focused on future data and news next week. Both the Fed minutes will be announced and we will see comprehensive assessments of Jackson Hole and Fed’s monetary policy. This meeting, which brings volatility every year, includes Powell’s comprehensive evaluations.
The weekend will pass without volume as expected, of course, if there is no big surprise development. However, if ETH can continue to close over $ 4,150, AC can continue to re -ath targeted trials.
In summary, this process, which was performed by Bitmine, brought the institutional interest to Ethereum again. However, the conditions in the short term are not great and some of the investors start to escape the risk, so the retreat seems to bring horizontal and down movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
