#ETHRally

Who has the largest treasury of Ethereum?

The craze for cryptocurrency treasury continues to grow, and Ethereum is one of the main players. Last Monday, Bitmine Immersion Technologies announced on X that it has the largest cryptocurrency treasury, reaching 1.15 million ETH with an approximate value of 4.9 billion dollars.

The firm added that this total is 317,126 more than a week ago, and that the value of the treasury is approximately 2 billion dollars higher than in that same period.

According to Cryptopotato, with almost 5 billion dollars in holdings, it is also ranked as the third largest cryptocurrency treasury in the world, only behind Microstrategy and Mara Holdings.

The firm holds the largest share in the ETH treasury, with 34% of a total of 3.49 million ETH. It is followed by SharpLink, with just under 600,000 ETH, or about 17%.

The Ethereum treasury companies, of which there are only 12, now hold 2.9% of the total supply of the asset. Meanwhile, spot Ether ETFs represent about 5% of the total circulating supply.

“In just one week, Bitmine increased its ETH holdings by 2 billion dollars, reaching 4.96 billion dollars, a staggering figure in its quest for the 'alchemy of 5% of ETH,'” stated Tom Lee from Fundstrat and chairman of the Board of Directors of Bitmine.

Ethereum opens Wednesday's session up at 4,586 dollars. The 70 and 200-period moving averages remain below the price, the RSI is rising at 77 points, and the MACD lines are above the zero level.

The price has surpassed medium and long-term resistances. Meanwhile, the Ei indicators are mostly bullish.