Bitmine (BMNR), the world's largest corporate holder of Ethereum, purchased an additional 9,946 ETH worth approximately $19.4 million last week, increasing its total holdings to 5,787,414 ETH. Valued at around $11.2 billion, the company's treasury now represents roughly 4.8% of Ethereum’s total supply, bringing it closer to its long-term goal of owning 5% of the circulating supply.
Bitmine Chairman Tom Lee said the ETH/BTC ratio remains a key indicator of investor sentiment. According to Lee, the ratio has climbed to 0.3000, its highest level in the past three months. He added that the continued strength of the ratio, despite ongoing uncertainty surrounding the expected CLARITY Act, suggests the broader crypto market is entering a stronger phase.
Ethereum has gained about 24% over the past month, outperforming Bitcoin’s 8% increase and reaching its highest level in ten weeks. Analysts continue to watch the $2,000 and $2,500 levels as major resistance zones, while sustained institutional buying and the strengthening ETH/BTC ratio reinforce Ethereum’s growing influence across the crypto market.
