Bitmine Makes Major ETH Purchase, Signaling Institutional Faith in Ethereum

A significant purchase by a suspected Bitmine wallet has sent ripples through the cryptocurrency world. Blockchain analytics platform Lookonchain reports that the wallet bought approximately $130.8 million worth of ETH (Ethereum) – more than 42,000 coins – marking a major sign of institutional confidence in Ethereum’s long-term value. This transaction is seen as more than just a trade; it reflects a strategic investment by a large entity with deep convictions about the cryptocurrency’s future.