Ethereum Aggressive Buying Spree From Bitmine – Here’s How Much They’ve Bought This Month

The broader cryptocurrency market has sprung back to life again, with Ethereum rising back above the $4,600 price mark after a renewed bullish ￰0￱ the period of bullish action, Bitmine Immersion has gone on a significant buying spree, acquiring thousands of ETH in the month of September alone. Bitmine’s Unstoppable Ethereum Buying Spree Ethereum’s price is experiencing a newfound upward strength as the leading altcoin draws dangerously closer to the $4,700 ￰1￱ ETH is gaining bullish traction, Bitmine Immersion Technology Inc., a leading treasury company, is doubling down on the asset with its steady, significant ￰2￱ a post from Crypto Patel on the social media platform X, the expert revealed that the treasury company has been buying ETH at a massive scale this month ￰3￱ company’s frequent and substantial ETH acquisitions demonstrate its robust belief in the asset’s potential for long-term ￰4￱ as market fluctuations continue to test investor confidence, Bitmine appears to be unshaken by the previous price ￰5￱ substantial acquisition fuels the argument that ETH’s place in the future of smart contracts and decentralized finance is still far from fully priced ￰6￱ shared by Crypto Patel shows that the company has scooped up over 276,800 ETH in just 14 days, valued at roughly $1.3 ￰7￱ is worth noting that this 276,800 ETH was acquired in just 2 weeks, particularly on September 7 and ￰8￱ the first week of this month, Bitmine accumulated 74,300 ETH, while the second week saw 202,500 ￰9￱ a massive purchase reinforces Bitmine’s leading role in ETH treasury strategy and strengthens its position in the general crypto ￰10￱ an aggressive accumulation by any standard, Crypto Patel stated that the buying spree is a strong signal of institutional conviction in ETH’s long-term ￰11￱ Investors Are Sharply Scooping Up ETH During this renewed bullish action, ETH ‘s largest investors are making their presence felt once again in the ￰12￱ Patel has outlined a growing positive sentiment among these large investors, also known as whales, as they continued to accumulate the ￰13￱ to Crypto Patel, big money players on Ethereum are stacking more than ever before.

On-chain data shows that Ethereum whales holding between 10,000 ETH and 100,000 ETH have just climbed to a new all-time high. Presently, a significant portion of the supply is controlled by these wallets, indicating increasing ￰14￱ addition to indicating a notable growing pattern of accumulation, this recent spike in whale balances also suggests a strong belief in the altcoin’s ￰15￱ Patel noted that whale confidence at this scale typically precedes large market ￰16￱ large investors double down on the altcoin, the expert stated that strong on-chain support is forming.