While many retail traders are still debating whether Bitcoin at $94,000 is “too high,” one major player isn’t waiting.
Bitmine Immersion Technologies just released its latest treasury update. The company now holds over 4.16 million Ethereum, around 3.5% of ETH’s total supply, with a stated goal of reaching 5%. At first glance, 5% may not sound like much. In reality, it’s a massive deal.
Here’s why:
A large portion of Ethereum’s supply is staked, locked, or held long-term. That means only a small part of ETH is actually available to trade on the open market. When one company accumulates 5% of the total supply, it represents a much larger share of the "liquid" ETH that people are actively buying and selling.
A Simple Example: The Concert Tickets 🎫
Imagine there are 100 concert tickets in total.
70 are already owned by fans who aren’t selling.
Only 30 are available on the market.
If one buyer grabs 5 tickets, they now control 1 out of every 6 tickets still for sale. That’s how a small percentage starts to move the needle. That’s exactly what Bitmine is doing with Ethereum.
Trader’s Honest Take:
This is how institutional money moves. They don’t chase green candles; they accumulate quietly while attention is elsewhere. The key signal isn’t just price, it’s supply. When large holders keep ETH off exchangs, selling pressure drops and tension builds underneath.
For ETH, the $3,200 level remains the line in the sand. If it holds, this accumnulation strategy continues to make sense.
Watch the supply first. Price usually follows.
Follow me. Charts talk louder than influencers.
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