- BitMine bought 744,600 ETH since early October
- Market shows no signs of panic selling
- Investors remain confident despite large-scale accumulation
Massive ETH Accumulation by BitMine
BitMine, a major player in the crypto space, has quietly purchased more than 744,600 Ethereum ( ETH ) since October 5th. The move represents a significant accumulation, potentially worth over $1.5 billion, depending on market rates during that period. What stands out even more is the market’s calm reaction — there has been no wave of panic selling.
This strategic accumulation suggests that BitMine sees long-term value in Ethereum. Their purchases have not only gone under the radar for weeks but also show confidence in ETH’s stability and future growth potential.
No Panic, Only Confidence
Despite the sheer size of the acquisition, there has been no major sell-off or price crash. This could indicate that Ethereum holders are not easily shaken — they likely recognize that institutional players like BitMine entering the scene is a bullish signal, not a threat.
In past crypto cycles, large movements of ETH often led to fear-driven reactions. But in this case, the opposite is happening: investors are holding, and the market remains stable.
What This Means for Ethereum
BitMine’s aggressive ETH buying spree could be a signal of accumulation before a major market move. Institutions often build positions quietly ahead of broader announcements or product launches. If BitMine continues its accumulation trend, it might even impact ETH’s supply dynamics.
This event also highlights a shift in market psychology. Retail and institutional investors are increasingly viewing Ethereum as a long-term asset, not just a short-term trade.
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