Summary
- According to the on-chain analytics account EmberCN, BitMine said it purchased an additional 20,000 Ether via an OTC trade.
- BitMine’s additional Ether purchase was said to total about $46.04 million (about 66.6 billion won).
- EmberCN said that during the recent correction, BitMine has been increasing its holdings to lower its average cost basis.
Speculation is growing that BitMine, a company holding a large amount of Ether (ETH), has moved to buy more even amid a correction.
According to EmberCN, an on-chain analytics account, BitMine purchased an additional 20,000 Ether via an over-the-counter (OTC) trade about 20 minutes ago. The purchase totaled about $46.04 million (about 66.6 billion won).
EmberCN said the transaction was carried out through FalconX, a digital-asset (cryptocurrency) brokerage platform. With prices continuing to correct, BitMine is seen as increasing its holdings to lower its average cost basis.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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