🚨 BITMINE CAPS ITS ETH STACK AT 5% 🛑
Tom Lee just drew a hard line at Token2049 Singapore: BitMine will stop buying $ETH once it holds 5% of supply, and the company only needs about 100,000 more ETH to hit that ceiling. One of the biggest corporate dip buyers is about to retire from the bid side.
The timing stings: US spot ETFs dumped $487M in a single day earlier this week, so corporate treasuries were the one steady source of demand. A capped BitMine means the market loses a buyer exactly when it needs one most.
Does another treasury step in to fill the gap, or does this put a lid on ETH's rebound? 👇
Not financial advice. DYOR.
#crypto #ethereum #ETH
Tom Lee just drew a hard line at Token2049 Singapore: BitMine will stop buying $ETH once it holds 5% of supply, and the company only needs about 100,000 more ETH to hit that ceiling. One of the biggest corporate dip buyers is about to retire from the bid side.
The timing stings: US spot ETFs dumped $487M in a single day earlier this week, so corporate treasuries were the one steady source of demand. A capped BitMine means the market loses a buyer exactly when it needs one most.
Does another treasury step in to fill the gap, or does this put a lid on ETH's rebound? 👇
Not financial advice. DYOR.
#crypto #ethereum #ETH