BitMine disclosed that it added 17,362 $ETH last week, pushing its total holdings to 6,001,302 ETH, worth roughly $16.1B at recent prices. That represents more than 4.9% of Ethereum’s circulating supply.
Meanwhile, Binance currently shows $ETH around $2,670, with traders watching the $2,700 resistance area.
INTERPRETATION: Large corporate accumulation reduces liquid supply held outside long-term treasuries, but it does not guarantee an immediate breakout.
🟢 Bull: ETH reclaims $2,700 while institutional accumulation continues.
🔴 Bear: Another rejection at $2,700 keeps ETH range-bound despite treasury demand.
Can institutional accumulation finally help ETH turn $2,700 into support?
BTC
83,116.04
-1.01%
ETH
2,676.06
-1.07%