Ethereum is hovering around $2,940, but its value does not even begin to tell the bigger story, it’s all about the way institutions are starting to get on board with ETH. BitMine (BMNR), now officially the world’s largest Ethereum treasury firm, has just made a major move by staking 74,880 ETH worth roughly $219 million into Ethereum’s proof-of-stake network.
This is a big deal because, to date, it’s the first time BitMine has staked any of its holdings, it marks a move away from simply holding onto ETH to now actively seeking to earn some return.
According to on-chain data from Arkham, BitMine now has about 4.07 million ETH on its books. If it were to fully stake that amount at current yields of 3.12% APY, then that would generate an additional 126,800 ETH every year, a whopping $371 million a year at current prices.
A return that’s going to start making people look at Ethereum not just as an asset that could grow in value, but as a genuine source of steady income.
Institutional Investment in ETH is Steadily Climbing
This staking move comes hot on the heels of fresh accumulation by BitMine – last week alone, they added 98,852 ETH at an average price near $2,976 – a purchase valued at about $294 million. Meanwhile, Bitcoin treasury firms like Strategy were largely sitting on their hands during the same time, but the Ethereum-focused treasuries are stepping up to the plate.
A few key things have been happening in the recent treasury activity that are worth noting:
- BitMine now holds over 4 million ETH – the largest known stash of its kind held by a corporate firm.
- The fact that BitMine is staking ETH for the first time is a clear vote of confidence in the network’s overall stability.
- By staking ETH, BitMine is introducing a regular return into its treasury models, which will be a major change in how it uses ETH.
For anyone investing at the institutional level, this is all about big picture thinking – not about short-term price moves but about getting your long-term positioning right.
Ethereum’s Price Holds Firm Despite Wider Market Caution
From a market perspective, Ethereum’s fundamentals are looking healthy. It remains one of the top 2 assets by market cap, with a valuation of roughly $355 billion and daily trading volumes exceeding $7.4 billion. Despite a general air of caution across the wider crypto market, ETH has held its ground above key support levels.
Ethereum (ETH/USD) Price Chart: Hanging fire
On the 4-hour chart, Ethereum price prediction seems bearish as ETH is bumping up against resistance around the $3,300- $3,350 region. At the moment, its price is stuck in a consolidation phase rather than being in a full-blown free fall. Each time the price approaches the $2,775 support zone, buyers step in and absorb that supply, which is a good sign.
Just now, the price is trading slightly beneath the 50-day EMA ($2,954) and the 100-day EMA ($2,982), and the narrowing gap between the two lines suggests the downward momentum is starting to slow. The RSI (a measure of overbought/oversold conditions) is in the 50 zone, which is another sign of balance, neither extreme nor orderly, showing neither excessive buying pressure nor a total collapse in demand.
If the price breaks above $3,000, we can see an acceleration towards $3,170 – the next technical target would be the $3,300-$3,320 zone. But if the price were to break down below $2,775, it would leave it at risk of falling to $2,620. At the moment, all the signs point towards stabilization of current price levels rather than a breakdown.
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