Key takeaways
Why did Bitmine buy another $389 million worth of Ethereum?
Bitmine accumulates ETH during price drops.
How do tokenized assets impact the market value of Ethereum?
The rise of tokenized assets and stablecoins on Ethereum strengthens its price floor and long-term valuation base.
Tom Lee’s Bitmine Immersion Technologies (BMNR) added over 110,000 Ethereum (ETH) (worth almost $389 million) in just one week, bringing his Ethereum total to $12.4 billion.
The move comes as tokenized assets and stablecoins continue to grow on Ethereum.
Massive accumulation of ETH by Bitmine
Bitmine added 110,288 ETH last week, worth $389.3 million at current prices. The entity now holds a staggering $12.4 billion in Ethereum, cementing its position as one of the largest holders of ETH.
Source:
Arkham wallet data shows continued accumulation since August, with steady inflows from major counterparties like FalconX, Coinbase Prime, and Galaxy Digital.
The latest purchases come alongside the recent decline in the ETH market, indicating institutional confidence.
Bitmine accumulates strategically during lower price phases.
Tokenized Assets Set Ethereum Floor
The market capitalization of assets tokenized on Ethereum (including stablecoins and RWA) has become the structural floor for the valuation of ETH.
The data shows a strong correlation between Ethereum’s fully diluted market capitalization and the size of tokenized assets, which now anchor a significant portion of the network’s value.
Source:
As tokenization grows, the base demand for Ethereum increases in parallel. Each increase in tokenized assets has consistently preceded or supported the recovery in ETH’s market cap, so real-world adoption now directly shapes Ethereum’s price basis.
Short-term resistance at $3.6K
At press time, Ethereum was trading near $3,540, facing resistance at the $3,600 level. The RSI showed weak momentum, placing ETH in a neutral to bearish zone.
Although there was a brief recovery at the start of the week, low trading volumes suggest limited buyer confidence.
Source: TradingView
The stable movement of the OBV line confirms the weakness of inflows, signaling limited buying interest. If Ethereum does not reclaim the $3,600-$3,650 resistance zone soon, it could fall back to the $3,400 support level.
However, a decisive break above this resistance would shift the near-term outlook towards a recovery.
