BitMine's Ethereum holdings have climbed to 5.79 million coins, edging dangerously close to their target of controlling 5% of the total circulating supply. This accumulation is unfolding at a time when Ethereum's price remains stuck in a narrow range, showing little momentum either way.
Such a concentration of supply raises questions about potential market impacts, especially as large holders can influence liquidity and price movements. While the broader Ethereum market waits for a breakout, BitMine’s steady buying highlights an intriguing power shift within the network’s token distribution.
