BitMine adds 27,180 ETH, Canaan sells all 3,952 ETH
- —BitMine raised its reserve to 5.95 million ETH — about 4.9% of circulating supply
- —5.067 million ETH staked via MAVAN with expected annual income of $334 million
- —Canaan sold 3,952 ETH and 54 BTC for $13.9 million at average prices of $2,400 and $79,000
- —ETH ETF inflows of $197.1 million for the week versus $462.7 million of outflows from BTC ETFs
Why it matters: Diverging treasury strategies and ETH ETF inflows against BTC ETF outflows strengthen the narrative of Ethereum's outperformance, though Bitfinex analysts attribute the demand to cash-and-carry rather than spot buying.
Source: FXStreet Crypto