#ETHETFsApproved #binanacesquare Bitmine Stakes 3.5 Million ETH While Price Stays Stable 📊
Recently, a crypto analytics platform called Lookonchain shared that Bitmine has staked more than 3.5 million Ethereum (ETH). This is about 72% of all the ETH they own.
This shows that Bitmine is not just holding ETH anymore — they are now using it to earn passive income through staking. This is interesting because the price of Ethereum is not moving much these days and is staying in a range.
Bitmine’s Big Move in Ethereum 🚀
Bitmine has staked around 3.5M ETH, which is worth about $8.35 billion. This is a huge amount and shows strong trust in Ethereum for the long term.
Right now, Bitmine controls about 4.1% of the total ETH supply. They have also said they want to reach 5% in the future.
This can be seen in two ways:
✅ Positive: Big investors believe in Ethereum’s future
⚠️ Concern: One company holding too much supply could affect the market
Ethereum Price is Moving Sideways 📉📈
At the moment, ETH price is not going up or down strongly. It is moving between:
$2,310 – $2,330 (current range)
It came up from around $2,150 recently
For ETH to go higher, it needs to break $2,400 resistance. If that happens, the price could go near $2,900.
On the downside:
Support levels are around $2,255 – $2,300
If price drops below this, it could fall back to $2,150
Market Signals Look Weak Right Now ⚠️
Some technical indicators are showing weakness:
MACD is negative → showing selling pressure
RSI is around 39 → showing weak momentum
Bears (sellers) are currently stronger than buyers
So, in short, the market is a bit bearish right now.
Long-Term Strategy by Bitmine 💡
Even though the price is not moving much, Bitmine is still staking more ETH. This shows they are thinking long-term.
Staking means:
They earn rewards
They are not planning to sell soon
They trust Ethereum’s future
This also shows that big investors now see crypto not just for trading, but also as a way to earn regular income.
Final Thoughts 🧠
Bitmine’s move is a big signal for the crypto market:
👉 Big players are still confident in Ethereum
👉 Staking is becoming more popular
👉 Price may be slow now, but long-term belief is strong