Yes, the latest on-chain data confirms: BitMine (the Ethereum treasury company associated with Tom Lee) has once again increased its holdings by 13,412 ETH, worth approximately $40.61 million (current ETH price around $3027).

This transaction, moved from Kraken to a BitMine-related wallet, further pushes its total holdings close to 4 million ETH, accounting for over 3.2% of Ethereum's circulating supply, steadily moving towards the "5% of global supply" target.

While some in the market panic and others are confused, institutional investors like BitMine are building positions against the trend, reflecting long-term confidence. Everything is indeed the best arrangement — weak hands exit, strong hands take over. 🚀

Long-term outlook for ETH is positive, hold patiently! 🕵️‍♂️