Ethereum is trading around the $2,670 area after breaking above the $2,661.52 resistance level earlier this week. Reuters noted that ETH had already gained more than 30% during its late-August rally, while the latest market pullback has brought renewed volatility.
Bitmine, one of the largest Ethereum-focused treasury firms, also bought approximately $75 million worth of ETH, adding to the institutional accumulation narrative around Ethereum.
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