From hoarding to forced price increases: BitMine’s 35-day blitz and the shift in ETH pricing powerRecommended Articles | Bee Network
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Author: Azuma ( @azuma_eth ) ETH has become the biggest focus in this round of market recovery, and ETH treasury reserve companies represented by BitMine (BMNR) and Sharplink Gaming (SBET) are undoubtedly the biggest driving force behind this round of ETH surge. Data from the Strategic ETH Reserve shows that as of July 29th (Beijing time), BitMine and Sharplink Gaming held 566,800 and 368,000 ETH, respectively, valued at $2.14 billion and $1.36 billion, making them the only two entities with holdings exceeding that of the Ethereum Foundation. It’s no exaggeration to say that BitMine and Sharplink Gaming now have a greater influence on ETH prices than the Ethereum Foundation, and their respective leaders, Tom Lee and Joseph Rubin, can be considered the true voices in the current ETH price trend.…# Analysis# bitcoin# crypto# defi# ethereum# Market# Token# ToolPre
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- BitMine, the company behind the project represented by Tom Lee, did it: this small company, which was once unknown on the Nasdaq, increased its ETH holdings from zero to 830,000 through a PIPE fina...