Ethereum is trading at $1,880, down 3.3% after slipping from recent highs, as crypto treasury firm BitMine Immersion Technologies approaches a milestone in its accumulation strategy. BitMine's Ethereum holdings have reached 5.79 million ETH, nearing its stated goal of owning 5% of the circulating supply, according to the firm's latest disclosure. The company's combined holdings across crypto assets, cash, marketable securities, and strategic investments now total $11.8 billion. Chairman Tom Lee cited the ETH/BTC ratio reaching a three-month high as validation of the firm's strategy, while identifying $2,000 and $2,500 as the next key price levels for Ethereum. The large-scale accumulation is tightening available supply, though price momentum remains constrained by technical resistance and broader macro conditions.
BitMine Holds 5.79 Million ETH With $11.8 Billion Total Portfolio
BitMine Immersion Technologies disclosed its Ethereum holdings have reached 5.79 million ETH. The firm's combined portfolio across crypto holdings, cash, marketable securities, and strategic investments totals $11.8 billion. About 4.92 million ETH is staked through BitMine's MAVAN platform, with projected annualized staking rewards of $299 million once fully deployed.
Chairman Tom Lee pointed to the ETH/BTC ratio reaching a three-month high as support for the firm's accumulation strategy. Lee identified $2,000 and $2,500 as the next key levels for Ethereum.
Ethereum Tests $1,880 Resistance With $1,800 Support Zone
At $1,880, ETH is testing a key resistance area after slipping from recent price highs. The $1,800 to $1,850 zone has turned into nearby support. Key support remains around $1,650 to $1,680. A close below that range on strong volume would increase the risk of revisiting $1,600.
Funding rates remain balanced, and leverage is relatively low. If Ethereum holds above $1,850 and reclaims the recent price high near $1,950, the path toward $2,000 becomes more realistic. A clean break below $1,800, especially alongside rising Bitcoin dominance, would shift attention back to $1,650.
ETH Market Cap at $226.5 Billion Amid Consolidation Phase
Ethereum's market capitalization stands near $226.5 billion. ETH has posted a solid weekly gain despite cooling on-chain activity. Unstaking queues and lower gas fees suggest network demand has eased after the latest rally. Technical indicators remain cautious.
FAQ
How much Ethereum does BitMine hold?
BitMine Immersion Technologies holds 5.79 million ETH, approaching its goal of owning 5% of the circulating supply. The firm's total portfolio across crypto, cash, marketable securities, and strategic investments totals $11.8 billion.
What are the key price levels for Ethereum according to BitMine's Chairman?
Chairman Tom Lee identified $2,000 and $2,500 as the next key levels for Ethereum. He cited the ETH/BTC ratio reaching a three-month high as validation of BitMine's accumulation strategy.
