U.S. Bitmain bought 740,000 Ethereum in a month… "There was no panic sell"

JOON HYOUNG LEE

Summary

Bitmain said it added 744,600 Ethereum in the past month.
Bitmain holds about 3,400,000 Ethereum, equivalent to 2.81% of total Ethereum supply, and said there were no panic sells.
The average purchase price is 4037 dollars, and the current unrealized loss is reported to be 2.4 billion dollars.

The world's largest Ethereum (ETH) reserve firm Bitmain has been reported to have purchased as many as 745,000 Ethereum in the past month.

According to the Strategic Ethereum Reserve on the 9th, Bitmain added about 744,600 Ethereum from early last month to recently. U.S. crypto media Cointelegraph reported, "(Bitmain's) panic sell was non-existent."

Bitmain's Ethereum holdings are estimated at about 3,400,000 as of the day. This represents 2.81% of total Ethereum supply and, when converted at current value, amounts to 11.45 billion dollars (about 16.7 trillion won).

However, as the Ethereum price has continued to decline recently, Bitmain's unrealized losses are also steadily increasing. Specifically, Bitmain's average purchase price for Ethereum is 4037 dollars, and the unrealized loss is reported to be 2.4 billion dollars (about 3.5 trillion won).

Meanwhile, Ethereum is trading at 3402.92 dollars on CoinMarketCap as of 2:52 p.m., down 0.97% from the previous day. Compared to a week ago, it is down 12.7%.

ETH