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Brand New Day' Pauses Production After Tom Holland Injury
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Brand New Day’ Pauses Production After Tom Holland Injury

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Tom Holland recently suffered a stunt-related injury, which left the fate of Spider-Man: Brand New Day temporarily hanging in the balance of a web’s thread. And now it’s official: the Destin Daniel Cretton-helmed film will be going on pause, according to the Hollywood Reporter.

The move comes as a way to give Holland seven days to recover from the injury while avoiding having to shoot without him. The trade described the injury as “a mild concussion,” and will be giving the franchise’s current Peter Parker a break from his Spider-Man commitments out of an abundance of caution. Holland was still able to attend a charity event on behalf of the Brother’s Trust, an organization the actor runs with his brothers.

While Spider-Man: Brand New Day shoot will be affected for a week, it’s not expected to impact the release of the film. As of now, the Sony Pictures and Marvel Studios feature is still on track to meet its release date. So we will be watching the continuation of a world where no one knows who Peter Parker is, let alone that he’s Spider-Man, come 2026.

Of course, even just under a year away, much of what Brand New Day is about is being kept under wraps. The film will bring back memory-wiped MJ (Zendaya) and Ned (Jacob Batalon) along with an extensive new ensemble of new and familiar Marvel Cinematic Universe players. Jon Bernthal will be featured as Frank Castle, aka the Punisher, alongside Avengers mainstay Mark Ruffalo as the Hulk. Better Call Saul actor Michael Mando will also reprise his role as the Scorpion from Spider-Man: Homecoming. Newcomers to the MCU include Stranger Things star Sadie Sink in a major undisclosed role, and Emmy-winning Severance star Trammell Tillman.

Spider-Man: Brand New Day is still slated to open in theaters on July 31, 2026.

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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Tom Lee's BitMine (BMNR) Raises $365M at $70 a Share to Expand Its Massive ETH Treasury
Crypto Trends

Tom Lee’s BitMine (BMNR) Raises $365M at $70 a Share to Expand Its Massive ETH Treasury

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BitMine Immersion Technologies (BMNR), chaired by Tom Lee, said Monday it now controls more than 2% of ether’s supply and raised $365 million to expand its holdings.

The company announced this morning that its treasury, valued at $11.4 billion as of Sept. 21, consists of 2,416,054 ETH at $4,497 per token, 192 bitcoin BTC$113,000.36, $345 million in cash and a $175 million equity stake in Eightco Holdings.

BitMine described itself as the world’s largest public holder of ether and the second-largest crypto treasury overall, trailing only Michael Saylor’s Strategy Inc. (MSTR).

BitMine is chaired by Tom Lee, who is also head of research at Fundstrat and chief investment officer at Fundstrat Capital.

Lee said the company is pursuing what he calls the “alchemy of 5%,” aiming to accumulate 5% of the total ETH supply. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum,” Lee said.

Raising funds to grow the treasury

A few hours later, BitMine announced a securities purchase agreement with an institutional investor covering 5.2 million shares of common stock at $70 per share — about 14% above its Sept. 19 close — along with warrants for up to 10.4 million additional shares at $87.50.

The offering is expected to raise $365 million in gross proceeds, with the warrants potentially adding another $913 million, bringing total potential proceeds to about $1.28 billion.

Lee said the primary use of funds would be to expand BitMine’s ether holdings, calling the premium pricing “materially accretive” to existing shareholders.

BitMine added that institutional demand reflected growing interest in ethereum as Wall Street integrates blockchain into financial infrastructure.

As of 11:13 a.m. ET, BMNR shares were trading around $55.79, down 9% on the day, according to Google Finance.



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Tom Lee: 'Bitcoin and Ethereum Are Friends'
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Tom Lee: ‘Bitcoin and Ethereum Are Friends’

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Fundstrat’s Tom Lee, who has emerged as the patron saint of the Ethereum community, has clarified that there is no rivalry between him and Strategy founder Michael Saylor.

Lee has posted a selfie with Saylor, stressing that Ethereum and Bitcoin are “friends.”

As reported by U.Today, Lee previously attracted criticism from members of the Bitcoin community for aggressively pivoting to Ethereum promotion with BitMine Technologies.

Lee became the chairman of BitMine, which specializes in immersive cooling technologies, in June and quickly turned the company into the leading Ethereum treasury vehicle.

Recently, Lee made some controversial statements, which have ruffled the feathers of the Bitcoin community. In particular, Lee predicted that the leading cryptocurrency could surpass Ethereum by market cap, forecasting that the latter could be a better macro trade over the next decade.

As reported by U.Today, the BitMine chairman has also attracted some criticism for fundraising off of Bitcoin’s logo, which some critics thought was rather misleading.

That said, the Bitmain chairman also remains bullish on Bitcoin, recently predicting that the price of the leading cryptocurrency could reach $200,000. 

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BitMin’e holdings nearing $10 billion 

In the meantime, BitMine has now approached a total of $9.3 billion in total holdings after the company recently purchased another $200 million worth of the flagship altcoin. 

This puts it well above Joe Lubin’s SharpLink, which has surpassed $3 billion. 

Meanwhile, Saylor’s Strategy remains the biggest Ethereum treasury company by an enormous margin, currently holding a total of $3 billion worth of assets. 



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Ether can flip Bitcoin, BitMine chairman Tom Lee says
Crypto Trends

Ether can flip Bitcoin, BitMine chairman Tom Lee says

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The Ethereum/Bitcoin rivalry is real, according to Tom Lee, chairman of BitMine and co-founder of Fundstrat.

Lee, a key Ethereum stakeholder whose market influence stems from his institutional investments and public advocacy, claims that ETH can reach $60,000 in five years and has a 50% chance of flipping Bitcoin.

However, while Ether has been performing undoubtedly well this past summer, topping Bitcoin is a hot take.

Summary

  • After the immensely bullish summer for Ether, the “ETH will flip BTC” narrative is back.
  • Ethereum flipped Bitcoin in spot ETF inflows and demonstrates consistent growth.
  • Despite Ether’s success, it must reckon with Bitcoin’s status and so-called “Ethereum killers.”

Crypto influencers tend to argue, on X, that Ethereum earns extra praise when Bitcoin is down. A closer comparison between the two cryptocurrencies show that, in the long run, Ethereum is gradually going down against Bitcoin. 

Ether was at its peak price against BTC in February 2018 at 0.13 BTC per Ether. In the spring and the fall of 2021, when Bitcoin was trending higher, the peak Ether prices were in the 0.08–0.09 BTC range.

Fast-forward to 2025: at 0.04 BTC per ETH, one Ether is worth 4 million sats — fewer than before. In other words, after the spring of 2021, Ether’s price saw no serious spikes against Bitcoin. 

The ETH/BTC price chart | Source: TradingView

While Ether has gained price against Bitcoin since April — its price rising from 0.019 to 0.04 — in BTC terms, each unit of ETH is cheaper than it was in 2021 or 2017. 

Therefore, despite Ether’s current price of $4,280 (a 92.5% rally from last year), Bitcoin maintains its position as the dominant cryptocurrency. As Jeff Embry of Globe 3 Capital put it:

“ETH has too high a hill to climb to surpass BTC, and the drivers of what creates value for both should keep BTC in the lead.”

Ether competition

Spot ETFs for Ether rivals are on the horizon, and treasury holdings in other digital assets could challenge Ether’s dominance. For example, Tron’s low-cost transactions may gain traction as stablecoins expand.

While Ether could outpace Bitcoin, it remains far below its 2017 highs, and its uncapped supply limits its potential to surpass Bitcoin.

Lee’s bold predictions come as BitMine Immersion Technology (BMNR) strategically shifts its focus to building a large Ethereum treasury.

Meanwhile, Michael Saylor’s Bitcoin-focused Strategy is facing challenges, having been recently sued by investors and snubbed from the S&P 500.

Ethereum: the bullish case

As of Sept. 6, Bitcoin’s market cap is over $2.2 trillion. Ether’s market cap is $515 billion. But, in April, the market cap of Ether was below $180 billion, so it grew considerably in the summer months.

Ethereum co-founder Joseph Lubin says it’s only a matter of time before his brand of crypto closes the gap.

“ETH will likely 100x from here,” he posted to X on Aug. 30. “Probably much more.”

Ethereum co-founder Joseph Lubin hinted on CNBC that he believes $ETH could flip $BTC within “the next year or so, especially with these treasury companies driving things.”

At bitcoin’s current market cap, ETH would need to be around $20,000 to flip it. pic.twitter.com/o3730nEmCY

— Satoshi Stacker (@StackerSatoshi) August 10, 2025

Before June, Ether struggled amid criticism of large sales by the Ethereum Foundation, which contributed to price declines.

Solana eventually surpassed Ethereum as a leading platform for memecoins. And this past spring, ETH was trading below $2,000.

By July, Ether gained over 60% while Bitcoin gained only around 10%. Ethereum dominance doubled between May and August, going from 7% to 14%.

The summer of 2025 saw a lot of factors contributing to Ether’s bull run:

  • BitMine’s Ether pivot.
  • Massive Ether ETF inflows and intensifying stablecoin race.
  • The European Union plans to use Ethereum for a digital euro.

    Under Lee, BitMine Immersion Technology turned into the second-biggest digital asset treasury in the world and the top corporate ETH holder. As of Aug. 25, it owns 1.71 million Ether units. The company aims to buy 5% of the Ether supply. At the current stage, it owns nearly a third of the needed amount. 

    Lee isn’t the only one who cares about BitMine’s success. Big-name investors like Peter Thiel, Cathie Wood, and Bill Miller III now hold large stakes in the company. The company announced its plans to issue $20 billion worth of BMNR stock to raise capital for further increase of ETH holdings.

    ETFs

    Spot Ethereum ETFs have outpaced Bitcoin ETFs, signaling strong institutional demand. In July, Ethereum ETFs saw $1.8 billion in inflows versus $70 million for Bitcoin ETFs. This surge in 2025 followed Circle’s successful IPO, the GENIUS Act enabling stablecoin issuance, and growing stablecoin competition, with Ethereum supporting roughly half of the stablecoin market.

    On Aug. 22, the European Central Bank reportedly considered using Ethereum and Solana to issue a digital euro, potentially placing Ethereum at the core of a major economy. That same day, Fed Chair Jerome Powell’s Jackson Hole remarks hinted at a possible September rate cut, boosting liquidity. Combined, these developments propelled Ether near $5,000 for the first time on Aug. 29.

    Institutional investors are draining the Ether supply while drastically increasing demand for it. The amount of ETH held on exchanges has reached the lowest point in around ten years. These factors may contribute to the ETH price ascension. 





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Fundstrat’s Tom Lee Reveals Why Investors Left Ethereum For Solana, But What Does Wall Street Want?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tom Lee, veteran trading analyst, Fundstrat co‑founder, and the strategist behind BitMine’s Ethereum treasury strategy, is once again championing Ethereum. 

During an interview with Mario Nawfal on X, Lee acknowledged how the broader crypto community appeared to abandon Ethereum in favor of faster alternatives like Solana and Sui. However, institutional investors, particularly Wall Street players, value something far more important, which only Ethereum can provide.

Retail Chases Speed, Wall Street Favors Reliability

In the interview, Lee challenges the belief that blockchain networks must prioritize transaction speed above all. Rather, he argues that institutional investors, particularly Wall Street investors, place much greater value on uptime and reliability, qualities that Ethereum has despite being slower at its base layer.

Lee said that retail investors abandoned Ethereum because they thought faster was better, leading them toward high-throughput networks like Solana and Sui with seemingly superior economics. But according to him, Wall Street thinks differently. Institutions prioritize “100 % uptime,” because they can always deploy on layer‑2 solutions to compensate for Ethereum’s base-layer speed limitations. 

Interestingly, Lee pointed to staking as another factor in which Ethereum is better than its counterparts. According to Lee, staking isn’t just about yield, but it’s about influence. “If Goldman stakes enough ETH, they have a positive voice on the Ethereum itself and how they upgrade,” he said. In short, institutional stakeholders like Goldman Sachs would care more about influencing Ethereum through staking, but this is not a weakness.

SOLUSD now trading at $202. Chart: TradingView

Lee noted that many veteran investors he recently spoke with still see Ethereum as underperforming, not because of any technological shortcomings, but because its price consistently lagged behind Bitcoin for months. However, this perception is now beginning to shift with Ethereum’s price action since July. 

After Ethereum broke past $4,800, the strength in price is improving confidence among crypto investors, and this momentum could set the stage for much larger growth for its price action in the near future.

Ethereum Price Action

Ethereum indeed has been on a remarkable upward arc since July. In late August 2025, the Ethereum price smashed through its previous all‑time high and traded above $4,880 for the first time since 2021, before finally peaking at $4,946. This, in turn, saw the Ethereum total market cap almost hitting the $600 billion mark

The rally wasn’t just price action. It echoed structural shifts in the institutional inflow dynamics into large cryptocurrencies, especially as seen in the performance of Spot Ethereum ETFs compared to Bitcoin.

Although Ethereum has since entered into a correction path down to the $4,400 level, the sentiment surrounding Ethereum is still bullish. Analysts have raised year‑end forecasts of Ethereum from between $6,000 and $12,000, based on increased institutional engagement and a positive influence from the US Genius Act. At the time of writing, Ethereum is trading at $4,390, up by 1.1% in the past 24 hours.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Tom Lee Destroys Ethereum Speed Myth, Wall Street Wants 100% Uptime
Crypto Trends

Tom Lee Destroys Ethereum Speed Myth, Wall Street Wants 100% Uptime

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Tom Lee, the cofounder of Fundstrat, has debunked an assumption that has floated around in the cryptocurrency space about Ethereum (ETH). Lee claims that institutional investors on Wall Street are more concerned about performance and reliability than speed.

Unusual advocacy for Ethereum

In an interview, Lee maintained that Ethereum’s uptime and decentralization make it attractive to large-scale finance. Hence, given that institutions care more about reliability and security than they do about raw speed, Ethereum has an edge among rival blockchains.

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The Fundstrat cofounder explained that even if Ethereum is slower on its base layer, this can be overcome with scaling solutions like layer-2 networks. This will compensate for the cost and speed issues.

EXCLUSIVE – “WALL STREET DOESN’T CARE ABOUT SPEED – THEY WANT ETH”@fundstrat:

“The crypto community abandoned Ethereum… they thought faster was better – that’s why Solana and Sui took off.

But Wall Street wants 100% uptime, not speed – they can build on layer twos.

ETH’s… https://t.co/SZmmg1lSum pic.twitter.com/5TAD5KQcCC

— Mario Nawfal (@MarioNawfal) August 29, 2025

Lee asserts that big institutional players are not prioritizing blockchain networks on the basis of speed. He acknowledged that Solana and Sui might process transactions faster than Ethereum, but “Wall Street doesn’t care about speed, they want ETH.”

He insisted that these institutional players are more concerned about Ethereum for its long track record, strong developer ecosystem and reliability. Lee believes that it was retail traders who made Solana and Sui relevant as they shifted attention to these chains due to lower fees and high throughput.

Ethereum price outlook shows signs of major cycle

Tom Lee pointed out that although Ethereum has not posted multiple new all-time highs (ATH) since the 2021 bull market, things are looking different now. The leading altcoin has gained over 14% in the last 30 days and managed to find stability above $4,000 for the greater part of this time period.

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However, Ethereum recently hit an ATH of $4,885, as reported by U.Today. Lee maintains that if ETH stays above $4,800, then the market could witness a really big bullish cycle.

As of press time, the Ethereum price was changing hands at $4,353.06, representing a 5.49% decline in the last 24 hours. It previously hit an intraday peak of $4,613.78 before the decline. Volume remains up by 0.07% at $40.48 billion.





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Uptober? Ethereum Savior Tom Lee Sees Crypto Outperforming in Q4
Crypto Trends

Uptober? Ethereum Savior Tom Lee Sees Crypto Outperforming in Q4

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Fundstrat’s Tom Lee has predicted that crypto (particularly Ethereum) could outperform in the fourth quarter of the year. 

His market research firm expects the U.S. Federal Reserve to follow through and start cutting rates. 

Lee’s price targets for ETH

Lee believes that Ethereum (ETH) will be able to hit $5,500 within the next couple of weeks.  

By the end of the year, ETH would be able to approach $10,000 or $12,000, Lee says. 

Lee has noted that crypto tends to show more volatility in the fourth quarter of the year. 

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“September is the month everyone’s gonna be worried about, so that’s the month you might get a pullback, but you need to be buying the dip,” Lee noted. 

Earlier today, Ethereum managed to reclaim the $4,600 level while Bitcoin seemingly continues its anemic price action, which shows that there is strong bullish momentum. 

Massive ETH holdings

According to data provided by analytics firm Arkham, Lee holds nearly $7 billion worth of ETH tokens, rapidly outpacing some of the other top corporate treasury tokens. 

World’s most important company 

Lee believes that Nvidia is currently one of the most “important” companies in the world. 

“So, I think Nvidia still is a great story. It really wouldn’t change our thesis if the stock reacted poorly, Lee said. 

The Fundstrat pundit insists that Nvidia is “a great story.”  

Bevy of IPOs

Lee has also predicted that there would be a “bevy of IPO” over the 12 months. “And I think, you know, if we look at the next 12 months, there’ll be a bevy of IPOs, some really big companies that are later stage,” Lee said. 



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Fundstrat’s Tom Lee Predicts Ethereum Bottom and Rally Above $5,000

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In brief

  • Ethereum sank below $4,350 early Tuesday before gaining ground.
  • Fundstrat managing partner Thomas Lee predicted that ETH would not fall below $4,000.
  • Lee expects ETH to surpass $5,000 in the near future.

Fundstrat Head of Research Tom Lee predicted that Ethereum would hit a temporary bottom Tuesday before beginning a climb beyond $5,000, shortly before the token began inching upward. 

Citing a message sent to him by Fundstrat Global Head of Technical Strategy Mark Newton, Lee, who also serves as chair of ETH treasury BitMine Immersion, endorsed the view that Ethereum will not fall lower than $4,000 in the near term.

Newtown suggested in his message that the altcoin will “bottom out sometime in (the) next 12 hours near $4,300,” although it was not precisely clear when he sent the message to Lee.

Ethereum currently dipped as low as $4,341 early Monday before rallying to its current level above $4,550. It is down about 1% over the past 24 hours and roughly 8% since reaching an all-time high of $4,946 on Sunday.



A Myriad Linea market found that 80% of the respondents believe that Ethereum will breach $5,000 this year.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

Newton and Lee suggested that the cryptocurrency could climb as high as $5,450, with an accompanying chart indicating that it could return to around $4,800 by the middle of September.

Not everyone agreed that Ethereum will rally in the immediate future, with TradeNation Senior Market Analyst David Morrison telling Decrypt that further declines may be coming in the near term.

“While I would agree that there could certainly be more upside as we head towards year-end, it remains significantly ‘overbought’ when considering its daily MACD [moving average convergence divergence],” he said. “To me, that suggests that it may pull back further from current levels before it can go appreciably higher, or, at the very least, there’s a period of sideways consolidation which could help blow some froth off it, similarly to the major US stock indices.”

Morrison argued that Bitcoin currently looks more attractive in itsupside potential, given that its daily MACD has now returned to neutral levels.

Other analysts also contended that Ethereum’s price could fall further in the near term, including eToro’s Simon Peters.

He told Decrypt, “Seasonality could play a part as September is historically one of the worst performing months for cryptoasset prices and with the price having rallied 250% since April, hitting a new all-time high, and looking a little technically overbought, it may present an opportunity for some long standing holders to realize gains.”

Peters also noted that Ethereum’s path could depend on the U.S. central bank’s decision on interest rates at its next monetary policy meeting on September 16 and 17. 

“If the Federal Reserve holds interest rates at their upcoming meeting in September, where currently the market is suggesting a cut, this may spark a further downside move in the short-term,” he added.

As for the medium term, Peters was confident that Ethereum is positioned nicely for “a strong run” at the end of the year, citing several factors.

“Firstly, the favorable regulatory environment for crypto, particularly in the U.S.,” he said. “This will lead more institutions to build on Ethereum serving as the base layer for stablecoins and real-world asset tokenisation.”

Peters also expects demand for Ethereum to remain strong, both from spot ETFs and  the growing number of public companies who have been steadily accumulating the token in recent months.

“At the same time, interest rates globally are falling and the money supply is going up,” Peters added, suggesting that a growth in disposable liquidity may lead more retail investors towards crypto.

While David Morrison acknowledged ongoing upgrades and institutional interest as factors in Ethereum’s favor, he remains cautious against expecting it to do something spectacular too soon.

“But at current levels, and considering their charts, it looks to me as if Bitcoin has more upside potential over the rest of the year,” he said. “I feel that Ethereum may need to work off existing frothiness before it can find a base from which to launch the next leg of its push higher.”

On the other hand, some analysts actually believe that Bitcoin is a risk for Ethereum in another way, in that BTC’s recent declines could impact ETH negatively.

This is the view of analyst and author Glen Goodman, who tells Decrypt that, while institutional interest in Ethereum ETFs could continue to help the altcoin, Bitcoin could drag down ETH if it continues to fall.

“ETH can probably defy a lackluster BTC, it could rise even while Bitcoin languishes,” he said. “But if BTC seriously nosedives, it’s unlikely ETH will be able to resist the downward pull of a crashing Bitcoin.”

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Crypto Bull Cycle Just Getting Started, Tom Lee Says
NFT Gaming

Crypto Bull Cycle Just Getting Started, Tom Lee Says

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Fundstart’s Tom Lee believes that the current cryptocurrency bull market is only in its early innings despite the fact that the biggest coins by market cap have recorded some impressive gains. 

His reasoning is based on the fact that traditional finance is still seemingly reluctant to embrace cryptocurrencies. 

According to the Morgan Stanley survey, did not own crypto:

– 2024: 69%
– 2025: 82%

This actually went up in 2025. This is a sign that it is still early in this crypto cycle

Tickers: $BMNR $GRNY https://t.co/04wgUNFHTX

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) August 24, 2025

Morgan Stanley sounding on crypto? 

Lee has pointed to the fact that the percentage of European Morgan Stanley interns who own crypto actually went down dramatically 

As reported by U.Today, the interns of the prominent bank have ditched both Bitcoin and Ethereum at a rapid pace over the past few years. For instance, 63% of them owned the largest cryptocurrency by market capitalization as of 2022. However, this percentage has now shrunk to only 12% in a dramatic reversal. 

In fact, XRP is the only token that has seen its ownership rates go up over the past two years (from zero to 5%). 

Prominent investor Dan Tapiero previously predicted that 2026 would be “a boom year” for cryptocurrencies. 

Bitmine’s vast ETH holdings 

As reported by U.Today, Lee previously opined that Ethereum (ETH) is supposed to be trading at $6,000 as of now. 

Lee’s Bitmine, the biggest corporate owner of the flagship atlcoin, has now surpassed a whopping $7 billion in total holdings, according to data provided by Arkham Intelligence. 

ETH’s new record high

In the meantime, Ethereum (ETH) recently hit yet another all-time high of $4,945, according to CoinGecko data. 

The flagship altcoin is enjoying a massive rally due to strong corporate adoption as well as extremely impressive ETF flows. 





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Tom Lee Buys $45M In Ethereum As Bitmine Expands Treasury To $7B ETH
Crypto Trends

Tom Lee Buys $45M In Ethereum As Bitmine Expands Treasury To $7B ETH

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum is once again in the spotlight after smashing through its previous all-time high, reaching $4,886 on Friday with an explosive 14% daily surge. This breakout underscores the strength of ETH’s ongoing bullish trend and highlights its growing dominance in the crypto market. While Bitcoin has been consolidating around familiar levels, Ethereum has become the focal point of institutional interest, with large players increasingly allocating capital to the asset.

Fundamentals remain robust, as both on-chain and market data confirm that Ethereum demand is accelerating. Institutions, funds, and whales are not only holding but also aggressively adding to their positions, signaling conviction in Ethereum’s long-term value. According to Arkham Intelligence, Tom Lee’s Bitmine has just bought $45 million worth of ETH, further cementing the narrative of large-scale accumulation. This move aligns with a broader trend of influential investors and organizations betting on Ethereum as the backbone of decentralized finance and the leading smart contract platform.

The combination of new highs, institutional adoption, and growing market confidence places Ethereum at the center of attention heading into the next phase of the cycle. Bulls now expect price discovery to unfold, potentially pushing ETH toward uncharted territory.

Institutional Accumulation Signals Bullish Upside

Ethereum’s rally is increasingly being fueled by deep-pocketed institutional players, with Arkham reporting that BitMine now holds $7 billion worth of ETH. This staggering position makes BitMine the largest corporate holder of Ethereum, with 1.518 million ETH under its control—equivalent to roughly 1.3% of the total supply. Far from slowing down, BitMine continues to accumulate, reinforcing the narrative that institutions see Ethereum as a cornerstone asset for the future of digital finance.

Bitmine’s Ethereum Holdings | Source: Arkham Intelligence

Close behind is SharpLink Gaming, the second-largest corporate holder, which has amassed 729,000 ETH valued at approximately $3.2 billion. Together, these two players represent a significant concentration of Ethereum in corporate treasuries, underscoring the scale of institutional conviction. Analysts point out that such accumulation not only locks away massive amounts of ETH from circulation but also shifts market dynamics by tightening available supply.

When large entities consistently buy and hold, it often signals confidence in both the asset’s utility and long-term price appreciation. Many market participants view Ethereum’s latest breakout above its 2021 all-time high as only the beginning, with corporate demand providing a strong foundation for further gains. If this pace of accumulation continues, Ethereum could be entering the kind of supercycle many investors have long anticipated.

Weekly Outlook: Key Resistance In Play

Ethereum’s weekly chart shows a powerful rebound that has carried the asset to new highs not seen since late 2021. After finding strong support near the $2,400 region earlier this year, ETH has staged a decisive rally, surging past its long-term moving averages (50, 100, and 200-week SMAs) and breaking through resistance levels that previously capped momentum. This breakout has culminated in a fresh push toward $4,779, putting Ethereum firmly back into price discovery territory.

ETH testing ATH resistance | Source: ETHUSDT chart on TradingView

The structure of the chart highlights how bulls have regained control. ETH has posted consecutive bullish candles, with strong buying momentum following institutional accumulation trends reported on-chain. The alignment of the moving averages — with the 50-week SMA turning upward above the 100 and 200-week SMAs — signals a strengthening long-term bullish trend.

However, the rapid pace of this climb also raises the risk of short-term exhaustion. ETH is now trading near historically significant resistance levels that align with prior cycle peaks, which could spark profit-taking among traders. If a retracement occurs, $4,300 and $3,800 emerge as key support zones to watch.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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