BitMine Acquired Another 12,500 $ETH From BitGo — Whales Are Building Up 🐋 Whales do not go for the pumps.
They go for the fear. Just now on-chain analysts detected yet another whale accumulation from Tom Lee's BitMine.
Within a period of about 4 hours wallets belonging to BitMine have accumulated ∼12,000 and 23,000 ETH respectively from BitGo and Kraken hot wallets.
The latter move was verified to be 12,500 $ETH transferred straight from BitGo custody. d05e It is spot accumulation.
ETH is being taken off of the exchange right into cold wallet holding. d05e Why is that important? It is conviction, not hedging.
This kind of institutional spot buy is a known signal. d05e BitMine already has over 3.6M $ETH with value of ∼$10.9B — nearly 3% of total supply — and plans to get 5%.
These new accumulations are made on the backdrop of Tom Lee’s forecast for the ETH price bottoming out near $2,500 then rising to $7K-$9K. 5a32 The whales start moving when BitGo vaults open.
Who are you going with?
#Ethereum #ETH #BitMine
They go for the fear. Just now on-chain analysts detected yet another whale accumulation from Tom Lee's BitMine.
Within a period of about 4 hours wallets belonging to BitMine have accumulated ∼12,000 and 23,000 ETH respectively from BitGo and Kraken hot wallets.
The latter move was verified to be 12,500 $ETH transferred straight from BitGo custody. d05e It is spot accumulation.
ETH is being taken off of the exchange right into cold wallet holding. d05e Why is that important? It is conviction, not hedging.
This kind of institutional spot buy is a known signal. d05e BitMine already has over 3.6M $ETH with value of ∼$10.9B — nearly 3% of total supply — and plans to get 5%.
These new accumulations are made on the backdrop of Tom Lee’s forecast for the ETH price bottoming out near $2,500 then rising to $7K-$9K. 5a32 The whales start moving when BitGo vaults open.
Who are you going with?
#Ethereum #ETH #BitMine
