Markets· ★★★· bearish·

BitMine Nears 5% Ethereum Supply Target With 6.02M ETH Holdings

  • —BitMine holds 6,016,414 ETH, about 4.9% of the 122.1 million supply
  • —The company bought another 15,112 ETH last week
  • —It needs roughly 88,586 ETH more to reach 5%, about six weeks of buying
  • —About 5.07 million ETH of its holdings are staked
Why it matters: The end of BitMine's recurring purchases would remove a steady source of ETH demand and could amplify selling pressure in a weak market.
#ETH
Source: Crypto Economy
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