BitMine Accumulates 319,000 ETH in One Week, Raising Supply Concerns
BitMine Immersion has acquired 319,000 ETH in one week, valued at over a billion dollars. This purchase represents 0.26% of Ethereum's total supply, indicating growing institutional confidence.
Potential Ethereum Supply Crunch
- At this acquisition rate, BitMine could demand an additional 4.1 million ETH by the end of 2025.
- The current liquid supply on exchanges is approximately 11 million ETH.
- If more institutions follow suit, a severe supply crisis could occur, surpassing that of 2021.
- The removal of 319,000 ETH from circulation adds deflationary pressure.
- Predictions suggest Ethereum could reach $15,000 by December if institutional interest continues.
Record Levels of ETH Staked
- The validator entry queue is currently at 787,085 ETH, indicating strong demand for staking.
- The validator exit queue has decreased to 616,898 ETH, suggesting fewer validators are leaving the network.
- Over 1.05 million active validators have staked 35.6 million ETH, or 29.4% of the total supply, with an APR of 2.89%.
- This situation could lead to a supply squeeze as liquidity tightens and more ETH is locked away.
