$ETH Bitmine Doubles Down on $ETH: $213M Transfer from FalconX đł
Whale activity confirms that corporate treasury powerhouse Bitmine (likely BMNR) is continuing its aggressive accumulation, pulling 51,255 $ETHâworth approximately $213 millionâfrom the FalconX institutional platform over the past 10 hours. The massive haul was split across two newly created destination wallets.
The transactions, facilitated by the institutional prime broker #FalconX, underscore a deliberate strategy to acquire large amounts of $ETH with minimal market impact. Bitmine, which publicly aims for the "alchemy of 5%" of the Ethereum supply, is cementing its position as the largest corporate holder of Ethereum globally.
This persistent accumulation signals extraordinary institutional conviction in Ethereum's long-term value, with figures like Bitmine Chairman Tom Lee forecasting price targets as high as $15,000. By constantly removing supply from exchanges, whales are creating a significant supply shock dynamic in the $ETH market, setting the stage for future price rallies.
With over $213M now moved off-exchange, is this the final stage of institutional accumulation before Ethereum's next major leg up?
