Ethereum 23% Rally Boosts BitMine’s ETH Holdings to $13.4 Billion
Ethereum (ETH) is approaching a key resistance level that could lead to a breakout. The cryptocurrency has seen a 23% increase from its September low, reaching $4,718 during the recent market rally.
Key Highlights:
- ETH is trading within the $3,600-$4,800 range and recently closed at around $4,514, attempting to establish $4,700 as support.
- Analysts suggest breaking the $4,500 resistance could lead ETH toward a $6,900 target.
- Crypto Jelle forecasts a potential rise to $10,000 after ETH broke out of a multi-year bullish pattern.
BitMine's Ethereum Holdings:
- BitMine's ETH treasury surpassed $13 billion, holding 2,830,151 ETH among other assets.
- The company aims to own 5% of Ethereum's total supply.
- BitMine is a significant player in the US stock market, with an average daily volume of $2.5 billion.
- Following discussions at the TOKEN2049 conference, BitMine remains confident in AI and crypto as major investment narratives.
As of now, ETH is trading at $4,710, marking a 13% weekly increase.
