Ether accumulation heats up: $882M in ETH snapped up by Bitmine, whale
BitMine and an unknown whale have acquired nearly $882 million in Ether through major OTC desks and exchange withdrawals in a show of growing institutional demand.
Institutional appetite for Ether shows no sign of slowing, with blockchain data revealing nearly $882 million in ETH purchases by two entities as of late.
Public Bitcoin mining firm BitMine Immersion Technology led the charge, scooping up 106,485 Ether (ETH) worth roughly $470.5 million over the past 10 hours. The miner’s latest haul brings its total holdings to 1,297,093 ETH, valued at about $5.75 billion, according to transactions tracked by Lookonchain.
The transactions reveal that BitMine acquired much of the ETH through large over-the-counter (OTC) deals and direct transfers from well-known institutional intermediaries, including Galaxy Digital, FalconX and BitGo.
Source: Cointelegraph →Related News
- 1 hour ago
S&P Dow Jones in talks to bring tokenized indexes to exchanges, DeFi: Exec
- 6 hours ago
Winklevoss’ Gemini files for Nasdaq listing after strong Bullish debut
- 6 hours ago
Spot Ether ETFs post outflows after 8-day $3.7B inflow streak
- 8 hours ago
Ether has ‘slightly more bullish path’ than Bitcoin: Santiment
- 11 hours ago
Bitcoin and Ether ETFs post $40B volume in ‘biggest week ever’