Bitmine Technologies announced the purchase of an additional 9,946 ETH over the past week, demonstrating institutional conviction. The Ethereum validator exit queue is currently at zero, while it now takes nearly 44 days to enter the queue with over 2.5 million ETH waiting. Bitmine Immersion Technologies holds a total of 5,787,414 ETH, representing 4.8% of the total supply, valued at $11.8 billion. Approximately 34% of the total ETH supply is now locked in staking, with yields declining to 2.62% from 3.05% a year ago. ETH’s current market price around $1,938 remains below the average cost basis of approximately $2,305, suggesting a potential bargain for long-term investors.
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