Odaily Planet Daily reports, according to on-chain analyst Yujin, five hours ago, Bitmine continued purchasing 20,000 ETH through FalconX, valued at $35.85 million. Bitmine still needs approximately 380,000 ETH, worth $680 million, to reach its target of holding 5% of ETH.
Bitmine purchases 20,000 ETH via FalconX, still requires 380,000 ETH to reach its 5% holding target
KuCoinFlashShare
Summary
Bitmine executed a $35.85 million ETH purchase through FalconX, acquiring 20,000 ETH. The firm still requires 380,000 ETH, valued at $680 million, to reach its 5% ETH supply target. This move aligns with crypto trading strategies that prioritize risk-to-reward ratios. The purchase occurred five hours ago amid sustained demand for ETH.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.