CoinVoice has recently learned that BitMine currently reports holding over 1.7 million ETH. To achieve the reserve target of 5% of the Ethereum supply, an additional purchase of approximately 4.3 million ETH is needed. At the current price (4,534 USD), this transaction would cost about 19.5 billion USD. When the ETH price approaches 4,200 USD, this cost will decrease to about 18.2 billion USD. The estimated daily trading volume of ETH is between 30 billion and 50 billion USD. Analysis indicates that compared to Michael Saylor, who has often made large purchases of 500 million to 1 billion USD that instantly push Bitcoin prices up by more than 2%, Tom Lee is clearly more seasoned. However, this also means that after the low point of 4,060, ETH is likely to have an 'invisible floor' in the range of 4,200 to 4,400. [Original link]

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