💥Bitmine has acquired an additional 96,798 ETH (~$271M) last week, bringing total holdings to over 3.7 million $ETH (~$10.5B) - equivalent to more than 3% of Ethereum's supply.
Tom Lee explains the additional 39% increase in weekly purchases comes from:
1️⃣ The Fukasa upgrade of Ethereum, activated on 3/12, will bring a series of improvements in scalability, security, and experience.
2️⃣ The Fed ends quantitative tightening (QT) and is expected to continue cutting rates on 10/12.
3️⃣ The market is gradually stabilizing again after more than 7 weeks since the liquidation shock on 10/10.
