BitMibe is almost done buying toward its stated 5% ETH target and that matters more than the headline 6.02 million total.
The company added 15,112 ETH last week, bringing holdings to 6,016,414 ETH, or 4.9% of the 122.1 million supply. It also says 5,067,309 ETH is staked.
The supply story looks bullish at first glance: one public company owns a huge treasury, and most of it is staked. But the next test is the flow, not the stock. #Bitmine is now less than 90,000 ETH from 5%. Once that target is reached, traders should watch whether weekly buying continues at the same pace, slows, or stops.
$ETH near $2.7K has not repriced aggressively on the update. That makes the post-target purchase pace more useful than another treasury headline.
The company added 15,112 ETH last week, bringing holdings to 6,016,414 ETH, or 4.9% of the 122.1 million supply. It also says 5,067,309 ETH is staked.
The supply story looks bullish at first glance: one public company owns a huge treasury, and most of it is staked. But the next test is the flow, not the stock. #Bitmine is now less than 90,000 ETH from 5%. Once that target is reached, traders should watch whether weekly buying continues at the same pace, slows, or stops.
$ETH near $2.7K has not repriced aggressively on the update. That makes the post-target purchase pace more useful than another treasury headline.
