Summary
- Ethereum investment firm Bitmine led by Tom Lee said it made a large-scale purchase of Ethereum (ETH) in a single day.
- Bitmine said it bought an additional 20,000 Ethereum (about $42.3 million) from BitGo, bringing the day’s total to 40,000 Ethereum (about $83.4 million).
- Bitmine previously withdrew 20,000 Ethereum from FalconX, and some see the firm as engaging in aggressive accumulation amid recent weakness in Ethereum prices.
Bitmine, an Ethereum investment firm led by Tom Lee, made a large-scale purchase of Ethereum (ETH) in a single day.
According to Lookonchain, an on-chain data analytics firm, on the 9th (local time) Bitmine bought an additional 20,000 Ethereum from BitGo seven hours earlier, worth about $42.3 million.
The total amount of Ethereum purchased that day came to 40,000, valued at about $83.4 million. Bitmine had previously withdrawn 20,000 Ethereum from FalconX, a digital-asset brokerage. With Ethereum prices recently under pressure, some interpret Bitmine’s move as aggressive accumulation.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
